NZDJPY Short
Daily Bias Bearish
Fundamental Analysis
NZD Bearish JPY Bullish
Price Action:
Price broke and close below Daily S/R Level respecting the bearish trendline. Price then break and close lower for H1&H4 TF below the H1 S/R level. Price broke both S/R level and short term bullish trendline, respecting H4/Daily Bearish trendline.
Confluence:
Higher TF (W/D/H4) - Bearish Trendline and Broken S/R level
Lower TF (H1/M30/M15) - broken H1 S/R level and H1 bullish trendline. Bearish Momentum Candle is closed and formed
Set up: Set short trade at broken support level with SL above the swing high of the last H1 high. TP is next Daily S/R level with R:R 1:3.5
Fundamental Analysis
NZD Bearish JPY Bullish
Price Action:
Price broke and close below Daily S/R Level respecting the bearish trendline. Price then break and close lower for H1&H4 TF below the H1 S/R level. Price broke both S/R level and short term bullish trendline, respecting H4/Daily Bearish trendline.
Confluence:
Higher TF (W/D/H4) - Bearish Trendline and Broken S/R level
Lower TF (H1/M30/M15) - broken H1 S/R level and H1 bullish trendline. Bearish Momentum Candle is closed and formed
Set up: Set short trade at broken support level with SL above the swing high of the last H1 high. TP is next Daily S/R level with R:R 1:3.5
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