NZDJPY - 15m - Double Bottom Retest inside consolidation
First of: I know i mixed up support and resistance on the chart. but i did want to get the chart out as quickly as possible.
Setup is pretty straight forward. We are sitting at a retest zone of the doublebottom neckline which also was strong support prior to that. A retest of the upper line of the current correction (blue dash) will already provide us with a nice 1.5:1. i will take 2/3 off there while with 1/3 i will hope for a break above and another potential impulse, which then might bring us all the way into the 78-79 area.
Setup is pretty straight forward. We are sitting at a retest zone of the doublebottom neckline which also was strong support prior to that. A retest of the upper line of the current correction (blue dash) will already provide us with a nice 1.5:1. i will take 2/3 off there while with 1/3 i will hope for a break above and another potential impulse, which then might bring us all the way into the 78-79 area.
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Related publications
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.