Hi guys,
here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today.
Now there are two levels where i'm going to pay attention to: previous resistance and previous support.
If price will give us a weakness sign i will be buying this.
If you have any question or you want to share your thoughts about this, feel free to comment below.
Otherwise, see you in the next chart!
here it's an Head&Shoulders pattern on NZDJPY. I'm very interested on this cross because i think we have a nice rally ahead. On the daily price has formed 3 consecutive candles with buying pressure and we also have a divergence on the RSI. I patiently waited for a break of structure as a confirmation and that happened today.
Now there are two levels where i'm going to pay attention to: previous resistance and previous support.
If price will give us a weakness sign i will be buying this.
If you have any question or you want to share your thoughts about this, feel free to comment below.
Otherwise, see you in the next chart!
Note
Daily Outlook:Note
Limit order:Trade active
Trade closed: target reached
Stop moved to break even:Note
Hey guys, that's what i would do for the second position: i'm going to heed the first level but hopefully i think we can reach the second structure that could give us a nicer risk to reward ratio.Let's wait and see.
Trade active
Long again:Trade closed: stop reached
Today the Yen didn't take our side.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.