NZDJPYTwo possibilities:
1: We could see price come into the green zone and react downwards from there since we have a break of structure and rejection signs.
2: The liquidity sat above the highs could be taken and then we could see price start to distribute, once we see a clear rejection and break of structure pattern forming we can take a sell entry from there.
Nzdjpysell
NzdJpy can fall from resistanceSince October's high, NzdJpy has started a downtrend, at least in the medium term and after finding support in the 76 zone, the pair rebounded and has started to trade in a range.
Now we are in the resistance zone of this range, and a fall could follow.
A rise above 78.70 would negate this scenario and bears can have as target 75 zone
Also, a drop under 76 would confirm an H&S, and the long term target for this pattern is 70
nzdjpyNZDJPY - SHORT
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further NZD weakness & JPY strength = NZDJPY SHORT
What are we waiting for to happen?
- waiting for the next correction to enter NZDJPY shorts
- possible retest of EMA
What is our confirmation?
- Retest of 4H EMA
- break of WFB once created
Entry
SAFE Entry: Rejection of 4H EMA and WFB once created
Risk Entry 1: Rejection of 4H EMA
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 79
- Second TP: 77.4
- Third TP: 75
NZD/JPY SELL IDEAHey tradomaniacs,
NASDAQ100: Daytrade-Preparation
Market-Sell: 77.140
Stop-Loss: 76.860
Point of Risk-Reduction: 76.660
Take-Profit: 75.800
Stop-Loss: 27 pips
Risk: 0,5% -1%
Risk-Reward: 4,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me
NZD/JPY SELL IDEAHey tradomaniacs,
welcome to another free trading-setup.
NZD/JPY: Daytrade-Preparationn
Market-Sell: 78.070
Stop-Loss: 78.310
Point of Risk-Reduction: 77.810
Take-Profit: 76.880
Stop-Loss: 24 pips
Risk: 0,5% -1%
Risk-Reward: 5,0
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me