ChaosTrader63
Long

NZD vs JPY Long Trade 8-19-13

FX:NZDJPY   New Zealand Dollar/Japanese Yen
152 0 0
Looking at the NZD vs JPY on the 4 hour time frame we see price extending after a pullback. Currently price is sitting right at the most previous fractal resistance level at 79.426. With a break and close above this level we would be expecting price to continue trending upwards. Our immediate level of concern would be the Daily Kumo resistance level @ 79.666 Once price violates the daily Kumo resistance we would look to the next immediate fractal resistance level @ 80.435. At this level I expect price to honor this level before eventually breaking out and extending upward for a nice long term trade. Our more short term trade listed shows entry @ 79.387 with a stop @ 78.959 and profit target @ 80.306
With price above the Kumo and all Ichimoku signals bullish we have no reason to be thinking about short trades at this moment. Have a great trading day and God bless!
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out