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Kiwi

NZDJPY Short Opportunity - 60 pips aproxNZDJPY Short Opportunity Confluences: 1) Price has been rejected twice from a descending trendline (daily timeframe) 2) Is in the top half of a 20+ days range 3) In the 4H timeframe; 2 fully descending candles have closed under the 200 MA 4) In the 1H timeframe; 9 period EMA is crossing the 21 MA to the downside ------------------------------ I wish BIG profits to you ALL!!! ----- I am grateful to have been taught by God and myself on trading. My money grows every day in increasing quantities on a continuous basis.
Short
by Memo_Mountain
NZDCAD - Good R/R Set up - TRADE OPPORTUNITY Technical view of - NZDCAD - Whilst having fun doing my weekend analysis for the week ahead, I do this to plan my week ahead - I'd like to share a good trade opportunity for you for next week! Pattern - Head and shoulders / Bear Flag - Measuring the patterns both = to good Support areas. - If it goes above the areas of where the shoulder should be - the pattern of H&S is no longer validated - I would then concentrate more on the Bear flag formation building, for further confirmation you could wait for the break out and trade the pull back or get in where you think is appropriate following your trade plan. Within my analysis - I have clarified where I'd be taking profit - Profit 1 & 2, I tend to scale out of trading taking profits due to psychological reason, which there are great books out there and mentors to help you with this - if you're interested within learning more about this - message privately. Again, follow what your plan - I will be only taking 60-70% of my profits at profit 1 area (Depending on price action at that moment of time) and the rest at profit area 2. (You could even go through lower time frames for day trading set up opportunities - Higher time frame = Shorter time frame movement). Key tips: All alerts and don't forget to put an appropriate STOP. It's good R/R trade. Remember: Just a trade idea, not a recommendation. Have a great week ahead! All the best, Trade Journal
by Trade_Journal
NZD/JPY consolidation into 70.00 resistanceHello Fellow Trader! NZD/JPY advancing into the 70.00 resistance level for a possible distribution zone. Must wait for a solid bearish candle reversal signal for optimal entry, or a solid candle close below the yellow trend line for NZD/JPY supporting entry. Key Points: - Price hugging above the 200 EMA - Price holding above the 50 EMA - Approaching 70.00 which coincides with upper Bollinger band - RSI also moving into overbought territory - 61.85 Fibonacci retracement level cluster with 70.00 Key Levels: Support – 50 EMA, 200 EMA, 69.470, 69.870 Resistance – 70.00, 70.10 Entry Zone: Optimal entry provides the greatest reward to risk ratio while supporting entry is a zone for reversal signals. Optimal Entry – 69.900 Supporting Entry – 69.800 Candle Reversals for entry - Bearish Shooting Star - Bearish Engulfing - Bearish Dark Cloud Cover The Risk: As traders, it is your job to mitigate the risk and only trade structures that provide high probability and great reward to risk ratios. If you are not comfortable with defined exit levels, experiment with Moving Averages to help set solid exit rules to protect your capital. IF: Price breaks above 70.150 – this would suggest the structure is not in our favour and would be wise to reduce exposure or close the trade until a solid signal gives us reasons to re-enter. Reward / Reward Targets: Optimal Entry 69.900 – Target 1 69.470 = 2.8x Reward to Risk Supporting Entry 69.800 – Target 1 69.470 = 1.5 Reward to Risk
Short
by tradetheday