NZDJPY has two lines here.
Purple presurre line and blue broken trendline .
The blue bear top zone is not a easy one to break.
So price of NZDJPY drop down again after pulling back to the neck position of last wave.
This is a possiblity of 620 pips totally.
But our signal is looking for part of it, 230 pips.
LESS IS MORE!
NZDJPY is at the top and struggling for more upside dont miss this fall.
How you can trade on this chart.
1. Watch top and look for sell before price fall and add more on Corrections.
2. Wait for the price to fall and look for sell on Correction.
BIG MONEY AHEAD
The weekly chart remained bullish on NZDJPY giving us further trading opportunities higher.
The daily chart offered us support at 75.50 and with price forming a double bottom pattern on the 1hr chart,
we can look for a re-test of the neckline before moving higher. Make sure stops are below lows and target
the range highs.
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
As per discussion from last week (youtube video), just took a sell on the daily.
Seller spiked approximately two hour ago and took out close by retail sellers.
Activated the trade before the spike and added another position after the spike.
Any pull back is potential sell opportunity. Work out risk reward ratio before entering the trade.
NZDJPY / H1 / Technical Chart
Formation: Gartley Pattern
Risk Management: Fixed Lot Size
Target and Stop: On the Chart
Wish you many pips
PS: Thank you very much that you support me with your likes and Comments
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.
nzdjpy is approaching a support level of a trading range.
the market is trading inside this range since February.
also, we have a completed bullish abcd pattern.
I will anticipate the retest of the main resistance level of the range.