Hi guys! This is my analysis of NZDJPY, For me, it's still in the correction wave, and it's probably shaping a Flat correction, the wave B seems to be completed, there is a pinbar at the 78% Fibo ret wave A, and we are also in the overbought area in RSI, waiting for the proper signal to enter sell position! Hope it helps!
Hi, each time i see selling ideas i am reassured to hold my sell trade at 82.8 since last friday. It had been 1 week and price keep going up.. i am really concerned. Should i close my trade in great loss now? or practice alittle more patience hoping price come down.
2 weeks time its BOJ interest rate announcement.. if again rates unchanged, i bet price will shot up higher then previous high.
Any recommendation to hold or close trade?? i really dont know as of now.. :(
hoomanhme
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@CY010101, Hi. since we are in a Flat correction it is not guaranteed that the wave B completed at 78% of fibo Ret wave A and it might go higher levels, But in my opinion, this is the place where price will fall down, I can not recommend you to do anything cause its just a analysis based on my thoughts, but can say wait a little more to see the next 4h candle!
2 weeks time its BOJ interest rate announcement.. if again rates unchanged, i bet price will shot up higher then previous high.
Any recommendation to hold or close trade?? i really dont know as of now.. :(