Nzdjpylong
NZDJPY is in uptrend and approaching Price action levelNZDJPY
After peaking the September month high around 72.00 which is a key psychological level its felled towards 68.640 which is a low volume area and find some buyers and making series of Higher high higher low patterns.
From Sep-09 to Sep-18 it was trading in a range and felled below the range. I have marked some levels are acting as accumulation and distribution phases after some consolidation phase its moved in a massive way.
The price is currently in a consolidation range at around 70.00 key psychological level. From this level we can expect bullish run towards 71.200 which is price action level where we can see a series of upper side rejection.This level is coordinated with 78.6% Fibonacci level
The price is currently trading within a.50 and .618 Fibonacci levels.As its reached the upper side of the .50 Fibonacci we can expect a minor correction towards .382 Fibonacci and from this level it will go bullish.
The 03 Exponential moving averages which is 50,100,200 are holding as support for the bull.
In Elliot wave theory the 4th impulse wave is completed and the 5th wave is underway. relative strength index has reached the 60 level and MACD histogram showing a starting of the bullish trend.
Ichimoku cloud is acting as support for the bull as its managed to float above the cloud.Buying NZDJPY around 69.900 with the target of 71.150 will give a nice risk reward ratio. Stop lose may placed below the 4th Elliot wave end point which is 69.600
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NZDJPY - Day trade by Keltner Channel 2-DEC-2020Number history bars testing: 20.000/Premium account.
Risk per trade: 1%.
Percent profitable: 55%.
Max drawdown ~ 20%.
---> The links below show the effecience and how to work of strategy
- First result is over 500%.
- Second result is over 600%.
NZDJPY - Day trade by Keltner 1-Dec-2020Risk per trade: 1%.
Percent Profitable: ~ 54%/20.000 history bars.
- commission: 4usd/trade.
- slipage: 2 ticks.
---> How to signal works is in links below.
NZD/JPY Technical Analysis.Currently, NZD/JPY is trading at 69.60. The pair is trading in a resistance and support channel from some time and now moving towards the support level at 69.00. It may rebound back after touching support level to again move towards resistance level at 72.00. Until it breaks resistance or support level, it will hover in this channel. So, do have this pair in your watch list and wait for the right price to enter.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
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Thank you,
Rishikesh Lilawat
Long Setup on RetracementLooking for a pullback to retest the respectable ascending trendline in confluence to the 0.618 fib retracement and previous area of support within the hourly structure.
NZD/JPY Technical Analysis
The zone of 71.100-200 proves to be a tough nut for the pair.
Despite multiple attempts, the price is unable to break above it.
Further, the price action has formed an evening action star pattern at the resistance zone.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY, 4hr tf, buy above the kumo as long legged doji appearsHello my friends,
Today another setup on JPY pairs. This time it is NZDJPY.
I found a good buy setup for this pair as there are some confirmations appeared which consist of:
1. Parabolic SAR now below the price indicating buying pressure
2. Price above the kumo cloud
3. Kumo cloud is green colored
4. Long legged doji which is a price action confirmation
Buy NZDJPY 71.15
Stop loss 70.80
Take profit 1 @71.50
Take profit 2 @71.85
Take profit 3 @72.20
RR ratio is 1 : 3
Use only 1-2% risk
Good luck
Disclaimer : I bought NZDJPY at 71.15 as per this writing
NZDJPY LONG until next weekI will go long on NZDJPY because it just bounced on the support zone. It is safe now to go long on NZDJPY.
This is the best time to buy NZDJPY for next week bullish move. I think it will go up next week.
Trade At Your Own Risk ;)
NZDJPY TO 71.600Here is a possible long for NZDJPY. This trade can be taken once price closes above 70.850 on the 4hr timeframe.
NZDJPY - Looks JuicyI expect another bearish move to continue the trend. Once we break out of this small bearish flag formation we can expect an aggressive sell-off into the 68 region. If price wants to continue rising we will have a bias change and look for buys into the 70 region after re-testing the structure marked.
According to COT Data Source, 57% are short.
NZD/JPY Wave Analysis
The counter is currently formed a flat ABC corrective wave.
It broke out from a bear flag pattern, tested the broken support, and is now coming down with strong momentum.
Hence, we expect the pair to be bearish in the near-term.
NZDJPY long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
