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Nzdjpybreakout

Flag Pattern on NZDJPYHi guys, i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here. As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again. With a break and close above trendline you can use two type of entries. 1- Wait for a candle close above and then enter at market 2- Wait for a candle close above and a little pullback in order to get a better risk to reward ratio Sometimes you can also use a buy stop order. It all depens on your style of trading. I'll keep you updated. If you want to ask questions or make remarks, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
Using Simple Patterns with Trending MarketsHi guys, i've already predicted this rally on this pair a while ago. Now i'm assuming price will continue in the upward direction till it will reach a major structure level. However, with such a trending market it's difficult to get a decent retracement in order to hop on the trend. That's why i'm using this kind of simple pattern formation (flags, triangles, wedges) to have my entry here. As you can see price is now having a brief period of consolidation, but since the previous move was so bullish i'm expecting a similar move again. With a break and close above trendline you can use two type of entries. 1- Wait for a candle close above TL and then enter at market 2- Wait for a candle close above TL and a little pullback in order to get a better risk to reward ratio Sometimes you can also use a buy stop order. It all depens on your style of trading. I'll keep you updated. If you want to ask questions or make remarks, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Is it the end of the downtrend on JPY pairs?Hey guys, i do not usually use trendlines in my analysis but sometimes they are useful in order to catch the early stage of a reversal, along with usual structure. The black line represents a strong daily structure that rejected price action as soon as it touched it. Therefore i'm assuming this could be a key point for a big reversal. Now, in this cases i wait for a break of structure to the upside in order to confirm my view: this time price broke both the trendline and the structure, giving us a strong clue on what it's going to do. Always remember that we don't want to chase price, instead we wait for it to come in our comfortable zones so that we can get a better risk to reward. As of now, i'm waiting to see what's price reaction to 618 level (together with some structure). I'll keep you updated. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
4
End of the downtrend on JPY?Hey guys, i do not usually use trendlines in my analysis but sometimes they are useful in order to catch the early stage of a reversal, along with usual structure. The black line represents a strong daily structure that rejected price action as soon as it touched it. Therefore i'm assuming this could be a key point for a big reversal. Now, in this cases i wait for a break of structure to the upside in order to confirm my view: this time price broke both the trendline and the structure, giving us a strong clue on what it's going to do. Always remember that we don't want to chase price, instead we wait for it to come in our comfortable zones so that we can get a better risk to reward. As of now, i'm waiting to see what's price reaction to 618 level (together with some structure). I'll keep you updated. If you want to share your view, or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
NZDJPY - Awaiting Breakout Bullish Flag PatternHi Guys, NZDJPY is forming a perfect bullish flag pattern and we are expecting a breakout soon, once that happens on valid breakout we will be initiating long positions in NZDJPY. Sometimes there may be false breakouts, so be careful..even while I'm typing this price is teasing the upper trendline. There are 2 ways by which breakout can happen 1) retest lower trendline take support move up or (2) Breakout happens directly in coming few hours. So lets check our risk-rewards and order entry with stops n exits to trade NZDJPY. Hit Likes if you agree... Thanks for your support... Happy Trading !!
Long
by InsiderB
2