Bullish Gartley I have my eye on, on the 4HR NZDJPY chart.
There are decent fib cluster levels at D leg completion and structure there too. Also there is a good chance to reach TP if it retraces due to fib cluster at TP level (0.382 with 0.618)
ENTRY: 74.446
TARGET: 75.719
STOPS: 73.752
What appear to be the 4th leg of an elliot wave is forming and might bounce off the resistance established 4 times since start of March, I'm setting a sell stop just above the last reversal and my stop loss between the last reversal and where I expect the 4th leg to bounce.
Edit : Plus the Resistance level is the same as level 0.382 of the Fibonacci retracement...
Hi all,
On the NZDJPY I am looking for a long entry around the 74.128 area. This is the top of the previous structure.
This structure is combined with a massive trendline that formed a long time ago, please check below.
Entry: 74.128
Stop: 72.724
Target 1: 76.383
Target 2: 78.420
Best of luck!
NZD/JPY edges lower on the day as BoJ holds policy rates unchanged and turned out surprisingly hawkish.
Downside in the pair is holding strong trendline support at 75.35, we see weakness only on breaks below.
Technicals on the 4 hourly charts indicates further downside, breaks below 75.35 could see test of 75 and then 74.40.
On the upside, the pair finds...
FX:NZDJPY
Potential ABCD pattern that can complete the weekly correction as a major ABC correction;
If so, I expect a bullish move ending around the weekly and monthly resistance @83.352$, forging an eventual Bearish Shark Pattern.
Taking the default ratios of a 5 waves impulse this is how it look. Just a guess.
For now, we have an ABCD pattern (cluster as...
Complex 3 year head and shoulder top forming in NZDJPY pair with a slightly downward sloping neckline and with near perfect symmetry across the shoulders. Strong resistance from previous support around the 83 area and a continued attempt to close below the 74.50 area suggest there's more downside in this pair. A strong break of that support area (74.50) with a...
Price have now pulled back to the MIDAS S1 Curve on the Daily time frame. Going down to the 4hr (chart above) a T.D price flip is about to occur as price approach wholesale prices (demand zone) in oversold conditions which is also creating a momentum divergence to the upside. Trade Setup can be seen to the right on the chart with a R:RR of 1:3.
An opportunity spotted on the New Zealand Dollar/Japanese Yen through the DCS-Report . Looking at the order flow we can see that the market have made an impulse or wave/leg 1 to the upside after being contained within the Foothill pattern. A MIDAS support channel have been launched from the initial take-off and are currently awaiting to be tested for further...
Extremely similar to the NZDJPY idea referenced below. A bit late on this one as well. Not the ideal set up but still a nice trade. 2-4 line has already been broken. High probability move to the upside.
Our last setup (check below) seems to be confirmed! Prices nicely crossed daily KS indicating bullish momentum
Resistance could be seen on Weekly KS as indicated in the chart then on the top of the KUMO but we have broken the minor downtrend.
Stop loss on KS, at around 76.30
Yesterday I highlighed a bullish setup on the pair. It has been confirmed since the price has broken the downtrend.
Next resistance will be seen on the top of the cloud at around 78.490.
Put a stop on Tenkan Sen.
check out our other strategies below!
Cheers
Jesse
Bullish momentum. Prices are about to cross up the downtrend.
If prices hold KS tonight I would buy the pair for a 2-figure movement - Target will be the top of KUMO at around 78.500.
Stop can be placed on Tenkan Sen at around 75.00
Good luck
