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Open Sell after a pullback to 0,7687
Price broke down Mirror level
D1 close under it
NZDJPY is approaching our first resistance at 78.08 (50%, 61.8% fibonacci retracement, horizontal swing high resistance, 100% fiboancci extension, descending channel resistance) and a strong drop might occur below this level pushing price down to our major support at 75.60 (Horizontal pullback support, 61.8% fiboancci extension, 38.2% fibonacci retracement). ...
NZDJPY has completed its cycle going up, it will retest the retracement 38 to 50 in an attempt to form a double top. the goes short until 72.922
This is a simple analysis of trend following trade with proper risk management..
OANDA:NZDJPY : Selling the JPY against the NZD. Trend continuation, TP1 at 1:1 at the top of the structure. Let the rest run.
Potential gartley pattern setting up here!
Reasons to enter
1. Gartley about to form
2. Approaching a strong support zone 786-886
3. RSI oversold
1. TP1 382, SL 1.135
SHORT THE MARKET WHEN PRICE PULLS BACK TO THE 77.000 SUPPLY LEVEL WITH TARGET PRICE 75.500
SHORT IF CHANNEL GETS RESPECTED.
Still waiting for NZD to start climbing up.
NZDJPY will give us new bullish wave after correction. Looking to buy at the PRZ. Please use correc MM and proven strategy.
I added new long position at 76.500 stop below 76.200
Next support is at 75.550 i have bigger long order there.
Open - 76.642
TP1 - 74.470
TP2 - 72.647
TP3 - 72316
SL - 77.591
Please note that my setups are not signals to trade but my own personal analysis and predicted direction. To enter a trade it must be validated by multiple different indicators and confluence factors.
NZDJPY has gapped away from the mean so we expect a mean reversion here and market to sell off in the short term.
However overall the fact that price has broken back above the weekly level is a bullish sign so we will be looking to go long if we see a buy signal around the weekly support level.
NZD/JPY daily is showing a decent looking bearish crab. This is complemented with an actionable stochastic and deteriorating market sentiment
Wait for the breakout of the 15 minute flag and sell.