NZDJPY Trading Plan: Bearish Shark Pattern RetestIn our NZDJPY analysis, we are observing a potential shorting opportunity on the 1-hourly chart. Here are the details:
1. Setup: Bearish Shark Pattern Retest
2. Timeframe: 1-Hourly Chart
3. Key Level:
- Entry Point: Bearish Shark Pattern Retest at 92.07
The Daily Chart reveals a Bearish Gartley Pattern at X with RSI Divergence, suggesting a potential bearish move. On the 1-hourly chart, the Bearish Shark Pattern provides an additional layer of confirmation for a shorting opportunity.
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Bearishdeepgartleyatx
Bearish Bat Confirmed, Shorting Opportunites AheadHave you observed the eclipse on the weekly chart of JPY pairs? It's a prevailing theme, reflecting a retest of structural support across all Yen pairs in my list.
This setup hints at a potential buying opportunity emerging in the upcoming week.
However, for those like me, eyeing the Bearish Fib-3 Bat Pattern on the weekly chart, there are two enticing opportunities on the 1-hourly chart.
Option 1 presents a Bearish Gartley Pattern at X, likely completing at 145.30.
Alternatively, Option 2 showcases a Bearish Fib-3 Bat Pattern, completing at 146.87.
Both scenarios necessitate a 3-bar reversal before considering trade engagement.
What's your strategy for USDJPY?
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