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ProjectSyndicate
Nov 16, 2020 8:27 AM

NZDJPY W2: 600 pips SWING / SHORT IT / IHS (NEW) Short

New Zealand Dollar/Japanese YenFXCM

Description

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NZDJPY W2: 600 pips SWING / SHORT IT / IHS (NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
Tagged as SHORT because I expect 600 pips
correction soon once we hit the neckline.


🔸 Summary and potential trade setup
::: NZDJPY 2weeks/candle chart review
::: ugly technicals and bad fundies
::: updated revised outlook
::: maxed out / rejected at neckline
::: 600 pips downside remains
::: short sell any rips/rallies
::: 73.00/73.10 BEST SHORT
::: Right shoulder at 67.00
::: Dollar losses overextended now
::: Inverted H&S setup
::: 73.00/73.10 neckline of IHS setups
::: strong downside next few months
::: TP BEARS is +600 pips
::: Recommended strategy: SHORT IT / SHORT RIPS
::: SWING trade setup / no fast results here
::: big moves in FX next few months
::: good luck traders
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment short-term: BEARS/LIMITED UPSIDE
::: Sentiment outlook mid-term: BEARS/REVERSAL
Comments
KlejdiCuni
This scenario could work very well if the resistance zone is going to hold. Great job!
InkyGrip
I agree with you thanks! 🦐👌🏻👀
Trading2ez
Yes JPY is very very strong due to hedges! :-)

Thanks for sharing been looking for the same plan!
XForceGlobal
Man, simple and to the point. Sometimes simplicity works in all cases! Might get in on this trade.
KlejdiCuni
Great forecast for the right shoulder. It can work. Thanks
VasilyTrader
Very good! Here is what price action shows:
ProjectSyndicate
@VasilyPonomarev, excellent setup, well done!
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