NZDJPY Range Market Sells
Another range bound market making a nice setup to continue down. We can see here that price has created a range between 66.131 and 63.474. We would anticipate that when price will sell at this resistance after creating a nice bearish pin-bar. Although there was indecision in the market, sellers have managed to enter at a decent price.
Now, for us to change our bias to Longs we would expect to see price break above the resistance (66.131), retests and initially create a new support at 66.131 and continue higher. But for now, we will continue trading this range down. Let's see how this plays out.
NZDJPY SELL
Price: 65.905
SL: 66.449
TP: 63.881
Now, for us to change our bias to Longs we would expect to see price break above the resistance (66.131), retests and initially create a new support at 66.131 and continue higher. But for now, we will continue trading this range down. Let's see how this plays out.
NZDJPY SELL
Price: 65.905
SL: 66.449
TP: 63.881
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.