Potential Long NZDJPY after bullish flag, trendline break
NZDJPY has just broken out of a flag and trhu a longer TF bearish trendline.
There is also a case to be made for an inverted H&S
I am waiting for the retest of the trendline and neckline before entering a long position.
Main level that could throw a spanner in this trade is the 82.50 level which has been decent resistance in the past.
The chart shows in pinkish the inverted H&S and dark blue the flag pattern and longer TF trendline.
My targets for the long go @ the clone tip of the flagpole, and stops just under the right shoulder.
Do you own analyis before following this please,
I do appreciate your feedback, comments or thumbs up on this if you agree!
There is also a case to be made for an inverted H&S
I am waiting for the retest of the trendline and neckline before entering a long position.
Main level that could throw a spanner in this trade is the 82.50 level which has been decent resistance in the past.
The chart shows in pinkish the inverted H&S and dark blue the flag pattern and longer TF trendline.
My targets for the long go @ the clone tip of the flagpole, and stops just under the right shoulder.
Do you own analyis before following this please,
I do appreciate your feedback, comments or thumbs up on this if you agree!
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.