NZDJPY reversed off its resistance at 71.289 where it could potentially drop further to 70.307.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This pair is currently trading at a major daily support (red zone) and is forming a Harmonic Bat Pattern . We are predicting the Harmonic Bat Pattern will be completed and we are looking for price action to move towards the upside from this point. We expect price action to complete the pattern between 70.00 - 69.900 before bouncing to the target (green zone). FX:NZDJPY
NZDJPY has shown great bearish momentum and currently retraced into a continuation pattern. We may see price continue to our take profit level.
Stop loss - Red price level
Take profit - Green price level
Remember you must manage risk, only risk 1% or 2% depending on your risk tolerance. There is no such thing as a guaranteed win in trading. What you have is...
We have seen price show continuous bearish momentum on this pair. Price reached a critical point of support before it started it's bullish ascend. i will be looking for price to pullback around the price level where it currently is and retrace at least potentially 50% of the bullish move before price continues to move bullish . I will looking out for bullish...
NZD/JPY is failling to make a push up on the 1H chart.
It has broken under the 50 EMA of the 1H chart.
As long as it holds as support, the sell is active.
We can expect the pair to drop to the last low to find it's support for another push back up.
This is a day trade. Wait for good confirmation of the move and enter.
Trade safe.
Right now the pair is below the Weakly Support point
Overall the trend is in downtrend but it is on a consolidation
fase. The pair might retrace around 0.5 to 0.6 fib point
Before it decide it's new trend.
I will go long around 72.400
I will go for a short position if it cross
71.390
>>Take profit point if it goes long is around 0.5 to 0.6 fib point
>> Take...
Anticipating shift in trend downwards as price action demonstrates a strong momentum swing down. Additionally, MACD + Triple Time Frame RSI provide additional support for my idea
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 !!
Short term sell on NZD/JPY - Shorting the pullback of the bullish trend as it hasn't yet found the foundation to make the push higher up.
*This is a day trade and a Risk:Reward ratio of 1:1.
