NZDJPY long trade ideaPlan: 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
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Nzdjpylong
NZDJPY H1 LONG PRICE ACTION FORECAST As price managed to break its previous consolidation from the Asian session, remaining in a bullish trend, with the smaller exponential moving averages about to cross in a golden move in H4 domain, a long entry is placed
The order:
Type: buy-stop
S/L: 52 pips - R:R | 1:2 -
T/P: aiming towards the resistance
NZD/JPY Technical Analysis
The counter has been declining steadily ever since it hit the high of 71.663.
However, it has now found support the levels of 68.226 amid testing it twice.
It has formed a bullish pinbar followed by three white soldiers, which is a powerful reversal signal.
Further, it has crossed the bearish trendline with a strong bullish candle.
Hence, we expect the pair to move to resistance placed around 70.000 level.
NZDJPY LONGI anticipate a formation of a triple bottom on the 4H chart and a double bottom formation on the daily chart.
Price has also reached the weekly support zone which has been tested before (blue zone). On the monthly chart the same zone has been a critical area of resistance, I anticipate this zone to be broken on the monthly chart to continue an upwards trajectory.
BUY LIMIT @ 68.321
SL: 67.778 (-54.3 pip risk)
TP1: 69.558
TP2 70.756
TP3: 71.624
NZDJPY TRENDLINE Abtin00Good morning guys
Whats up ? Everythings all right ?
We are in a sensitive are for nzdjpy if it can break the trendline with power candle ( like maribozu or ... ) we take short position until that the target we shown it below but if trendlline can support it , it can go up to the first target then second target
But dont forget stop loss , we are in sensitive area for suggestion
Good Luck
Abtin
NZDJPY H4 LONG PRICE ACTION FORECAST -UPDATE-Price action fund rejection from the strong level drawn from W1 timeframe, being able to manage a breakout from the trend line, and retest of the level changed the reading of the previous post from a short-entry to a renewed long position.
The pair bullishness is supported not only by the price structure but the MACD and smooth sloping up from the 200MA
The order:
Type: buy-limit
S/L: 68 pips - R:R | 1:2.4
T/P: aiming towards the resistance trendline