NZDJPY BEARISH MOMENTUM > SELL!
Updated
Hey Traders and Investors, I'll be sharing my perspective on how I anticipate the price of NZDJPY to perform once the market re-opens. Let us make wise management decisions and take advantage of the opportunities this new week; if you agree with this idea, hit the boost button and follow me for more ideas - I do appreciate it fr đź’Ż
- To begin, I've noticed that the price of NZDJPY has been influenced by the first resistance level of this recent week that led to it dropping -2.43% in three trading days because of these key factors
1st = The timing of this opportunity was accurate + the gap between the top and bottom of this resistance level was 25.5 pips from each other.
2nd = This resistance level #1 had ten bullish candle wicks touching it at the time, which had it gain the power and authority within itself to influence the price to drop 208.7 pips below the 10th bullish candlewick
3rd = It was officially the first resistance level of that week, which had kept the price below it for one day straight before dropping.
*The price of this resistance level #1 was set between $88.596 and $88.342
(The process behind this SELL TRADE) - August 5th, 2023
- While I was analyzing the current market trends, I discovered the third resistance level of this recent week with 12 bullish candle wicks touching it at the 13:00 chart time, which is more bullish candle wicks than the 3rd resistance level from last week. This has me fully convinced that this resistance level #3, with the combination of the 1st and 2nd resistance levels, has gained the potential power within itself to influence the price to drop 295.5 pips below the 12th bullish candlewick and prevent the price from hitting a 5.5 pip stop loss above the 12th bullish candlewick.
- The gap between the top of this resistance level #3 and the bottom of this resistance level #3 is 25.5 pips from each other, which is aligned with the gap of the previous resistance levels that were tested and effective
*The price of this resistance level #3 is set between $87.046 and $86.792
(GREATER CHARTVIEW 🌅)
(MY SELL POSITION OFF THIS THIRD RESISTANCE LEVEL) - 8.6.2023
MY ENTRY PRICE will be above $86.355 > the current price of NJ is $86.451
The price of my take profit will be set at $83.036 (237.5 pips)
The price of my stop loss will be set at $87.036 (67.5 pips)
- MY RISK MANAGEMENT RULES WILL BE APPLIED IN THIS POSITION
REMEMBER = Always apply proper risk management according to your trading plan
- IF YOU FOUND THIS BENEFICIAL IN ANY WAY - You can support me again by hitting the boost and following me for more ideas + opportunities
(Bk) Buomkuoth Nhial Reath đź’Ž
JESUS CHRIST IS LORD AMEN
- To begin, I've noticed that the price of NZDJPY has been influenced by the first resistance level of this recent week that led to it dropping -2.43% in three trading days because of these key factors
1st = The timing of this opportunity was accurate + the gap between the top and bottom of this resistance level was 25.5 pips from each other.
2nd = This resistance level #1 had ten bullish candle wicks touching it at the time, which had it gain the power and authority within itself to influence the price to drop 208.7 pips below the 10th bullish candlewick
3rd = It was officially the first resistance level of that week, which had kept the price below it for one day straight before dropping.
*The price of this resistance level #1 was set between $88.596 and $88.342
(The process behind this SELL TRADE) - August 5th, 2023
- While I was analyzing the current market trends, I discovered the third resistance level of this recent week with 12 bullish candle wicks touching it at the 13:00 chart time, which is more bullish candle wicks than the 3rd resistance level from last week. This has me fully convinced that this resistance level #3, with the combination of the 1st and 2nd resistance levels, has gained the potential power within itself to influence the price to drop 295.5 pips below the 12th bullish candlewick and prevent the price from hitting a 5.5 pip stop loss above the 12th bullish candlewick.
- The gap between the top of this resistance level #3 and the bottom of this resistance level #3 is 25.5 pips from each other, which is aligned with the gap of the previous resistance levels that were tested and effective
*The price of this resistance level #3 is set between $87.046 and $86.792
(GREATER CHARTVIEW 🌅)
(MY SELL POSITION OFF THIS THIRD RESISTANCE LEVEL) - 8.6.2023
MY ENTRY PRICE will be above $86.355 > the current price of NJ is $86.451
The price of my take profit will be set at $83.036 (237.5 pips)
The price of my stop loss will be set at $87.036 (67.5 pips)
- MY RISK MANAGEMENT RULES WILL BE APPLIED IN THIS POSITION
REMEMBER = Always apply proper risk management according to your trading plan
- IF YOU FOUND THIS BENEFICIAL IN ANY WAY - You can support me again by hitting the boost and following me for more ideas + opportunities
(Bk) Buomkuoth Nhial Reath đź’Ž
JESUS CHRIST IS LORD AMEN
Trade closed: stop reached
I'll go through this setup and make certain adjustments.Trade active
This recent trade idea + position above was too early of an entry, but now I've made the correct adjustments MY ENTRY PRICE is now at $87.275
The price of my take profit is now set at $85.176 (209.9 pips)
The price of my stop loss is now set at $87.540 (26.5 pips)
- proper risk management has been applied + this position has been executed
Trade closed: stop reached
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