NZDJPY LONG SETUP

NZDJPY DAIL

THE 55 ABOVE THE 21 INDICATES A BEARISH MARKET. PRICE IS CURRENTLY SIDEWAYS & AT MM4 RESISTANCE. STOCHASTICS IS OVERBOUGHT.

NZDJPY H4

THE 21 ABOVE THE 55 INDICATES A BULLISH MARKET. PRICE IS BULLISH AS INDICATED BY THE 5 BEING ABOVE THE 8. PRICE HAS ALSO PRINTED HIGHER HIGHS & HIGHER LOWS. RESISTANCE IDENTIFIED AT WR1 WHICH COINCIDES WITH MM4. STOCHASTICS OVERBOUGHT. SUPPORT IS IDENTIFIED BY THE GREEN BARS.

NZDJPY H1

MARKET IS BULLISH, 21 ABOVE THE 55. PRICE CURRENTLY AT ROLE REVERSAL SUPPORT. 21 EMA IS PLAYING DYNAMIC SUPPORT. MY PLAN IS TO LOOK FOR OPPORTUNITIES TO GO LONG @ 78.17 ROLE REVERSAL SUPPORT/21 DYNAMIC SUPPORT. IF PRICE BREAKS THROUGH THE 21 I WILL LOOK FOR OPPORTUNITIES @ WPP SUPPORT. LOWER TIME FRAMES WILL CONFIRM MY ENTRY.

NZDJPY H1 POST TRADE PLAN

THE PLAN WAS TO ENTER OFF THE 21 EMA WHICH PLAYED AS DYNAMIC SUPPORT OR ENTER AT DPP SUPPORT IF PRICE BROKE THROUGH THE 21. THE BOUNCE OFF DPP PLAYED OUT AFTER A BREAK OF THE 21 TO THE DOWNSIDE, BULLS WENT LONG AND PRICE GOT TO DR2/DM4 PROFIT TAKING ZONE.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.