NZDJPY - 21/07/2020 - Short Idea
Hi! Welcome to my page! If you're new here, my analysis is primarily based on 'Smart Money' concepts. I search for where the liquidity is, where imbalances/gaps in price are and institutional candle sticks.
Looking at two possible entry opportunities for NJ. Price has been consolidating for a while now which means a lot of liquidity has built up above and below which market movers will look to tap into before moving the markets in their intended direction. SL above previous highs, TP targeting equal lows. Before entering I will be waiting to see a reaction from my identified zones, then drop to a lower time frame before entering.
If you intend to take this idea, remember correct risk management. 1-3% risk per trade. Let me know if you do choose to take this idea forward and feel free to comment below.
Harry
Looking at two possible entry opportunities for NJ. Price has been consolidating for a while now which means a lot of liquidity has built up above and below which market movers will look to tap into before moving the markets in their intended direction. SL above previous highs, TP targeting equal lows. Before entering I will be waiting to see a reaction from my identified zones, then drop to a lower time frame before entering.
If you intend to take this idea, remember correct risk management. 1-3% risk per trade. Let me know if you do choose to take this idea forward and feel free to comment below.
Harry
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