50% of the big bearish engulfing candle has been hit 3 times
Strong price reversal zone marked out at 50% of the bullish engulfing candle
So we could see a retest of that zone to break to the upside which would be an MA bounce and could give us 2 entries/stack zones
Anticipating shift in trend upwards as price action demonstrates a strong momentum swing up. Additionally, MACD + Stochastic + RSI provide additional support for my hypothesis
Anticipating breakout upwards are prices closes above Ichimoku base and conversion line. Also, base and conversion line have crossed demonstrating a shift in trend.
BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
NZDJPY is approaching our first resistance at 76.62 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 75.22 (horizontal swing low support, 50% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (89,5,3) is also approaching resistance...
NZDJPY is approaching our first resistance at 76.62 (horizontal swing high resistance, 100%, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 75.22 (c).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries...
Above is my verbal take on where market is headed. Market is following a channel which can be observed on the Daily and 4HR view. Prices are consolidating within the published view, so expecting a big move within a week or two.
DISCLAIMER;
Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is...
NZDJPY is approaching our first resistance at 76.62 (horizontal pullback resistance, 100%, 61.8% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level to our major support at 75.22 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a...
NZDJPY is approaching our first resistance at 76.62 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 77.22 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a...
NZDJPY is approaching our first resistance at 76.62 (horizontal pullback resistance, 61.8%, 100% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 77.22 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a...
NZDJPY looks to be in a quite healthy trend at the moment.
With the daily candles closing quite bullish, I believe we may still have a bit of an upside to see.
We may very well be in a current Elliot Wave with this wave being the corrective wave number 4.
A retracement to the .236 - .382 fib level would be nice to see & it could make for a nice R/R ratio,...
Hello good people.
NZDJPY already making a trendline breakout. I am expecting to go long this week with a tight Stop Loss. Lets hope for the best!
Regards. AK.
NZDJPY is approaching our first resistance at 76.66 (76.4% Fibonacci retracement, 61.8% Fibonacci extension, horizontal pullback resistance) where a strong drop might occur below this level pushing price down to our major support at 74.98 (horizontal swing low support, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might...
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