NZDJPY bearish outlook!
Hey guys, on NZDJPY i am expecting bearish pressure to continue directing the market.
-Weekly descending trendline has been respected
-Lower high formed on Daily chart
-Now in bearish sequence on 4h chart
FOR THIS TRADE TO BE VALID WE MUST SEE A DAILY BREAK OF TRENDLINE, FOLLOWED BY A NEW LOW, AND THEN WAIT FOR PRICE TO CORRECT & REJECT A FIB LEVEL TO ADD CONFLUENCE TO THE TRADE. Currently this is just an overall analysis and forecast rather than a trade idea.
-Weekly descending trendline has been respected
-Lower high formed on Daily chart
-Now in bearish sequence on 4h chart
FOR THIS TRADE TO BE VALID WE MUST SEE A DAILY BREAK OF TRENDLINE, FOLLOWED BY A NEW LOW, AND THEN WAIT FOR PRICE TO CORRECT & REJECT A FIB LEVEL TO ADD CONFLUENCE TO THE TRADE. Currently this is just an overall analysis and forecast rather than a trade idea.
Trade closed: target reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.