NZDJPY Daily S/R| Dynamic Support|Liquidity|200MA|Price Action
Evening traders,
Second analysis – NZDJPY – rejection from Daily S/R currently trading in a small equilibrium with the dynamic support being the immediate target,
Points to consider,
- Macro Trend Bearish
- Daily S/R Resistance
- Dynamic Support Confluence (200 MA)
- Oscillators Divergence
- Volume Declining
The macro trend is bearish with consecutive lower highs, price is currently establishing a probable bearish retest. This allows us to have a bearish bias on the market.
The Dynamic support is the immediate target as this area has technical confluence with the 200 MA & EMA. Price is likely to test for liquidity in this region before a probable impulse up.
Both oscillators are diverging, technical bearish divergence; this shows weakness in the market as price fails to break daily S/R.
Overall, in my opinion, NZDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion.
Hope this analysis helps!
Thank you for following my work!
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
Second analysis – NZDJPY – rejection from Daily S/R currently trading in a small equilibrium with the dynamic support being the immediate target,
Points to consider,
- Macro Trend Bearish
- Daily S/R Resistance
- Dynamic Support Confluence (200 MA)
- Oscillators Divergence
- Volume Declining
The macro trend is bearish with consecutive lower highs, price is currently establishing a probable bearish retest. This allows us to have a bearish bias on the market.
The Dynamic support is the immediate target as this area has technical confluence with the 200 MA & EMA. Price is likely to test for liquidity in this region before a probable impulse up.
Both oscillators are diverging, technical bearish divergence; this shows weakness in the market as price fails to break daily S/R.
Overall, in my opinion, NZDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion.
Hope this analysis helps!
Thank you for following my work!
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
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Disclaimer
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.