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SergeantPringles

NZDJPY - 2H - Cyhper at major support area

Long
New Zealand Dollar / Japanese Yen (FX:NZDJPY)  
SergeantPringles Updated   
FX:NZDJPY   New Zealand Dollar / Japanese Yen
Cypher consolidation correction
9
0
cypherpattern consolidation correction
NZDJPY is retesting a major recent support level, so i was looking for buy signals. this cypher is far from nice (C a bit overextened) but on a daily timeframe its still a valid cypher. regardless, i wanted confirmation befor goin long, yesterday we saw the first atempt of a breakout from the downward channel, followed by downward consolidation. you can trade the breakout if you like, but my tradeplan is the blue dotted line - so break and retest.
Comment:
here the daily timefram
Comment:
Comment:
price is following the blue line nicely. i wanna stay a little bit more patient and wait for price to fall a little more so i can take easy 1:1 profits before retesting the highs we made after the breakout. tg2 will then aim for trendcontinuation following the dotted line further.

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