NZDJPY - daily

Aug 4

I'm a bit optimistic, obviously because of Yen bullishness and this bearish daily and weekly candle close, but the price has come all the way down into this buy zone. Now, that zone can easily get blown through because of the bearish momentum. However, I will only enter the trade if I see the price flipping the 15-minute structure. This can either happen in this demand zone or after the price takes it out, makes some manipulation, and then buyers enter the market. I like this setup because we have a few good targets.

Aug 5

Trade active

As you saw price did blow through the zone due to momentum. This is possible scenario I was waiting for. Let's see if buyers can get some liquidity into the market in Asian session.