Is YPP (S1) a turning point for a range break?
Updated
Unlike AUD, it is NZDUSD which is completely invisible to down trend when looking at the weekly stick.
weekly
The current position is a difficult place to hit the YPP (S1) and the trend line.
Because it is a range market, I'd like to think about long at the bottom of the range.
However, as far as EMA is seen, the closest direction is down.
Therefore, long entry is a difficult place.
Unfortunately, I have not been able to trade so much this week, but I will also check off this time.
I will wait for a chance of a short.
<< tactics >>
1-1) MPP (P) rose to 0.68568. It acted as a resistance line.
short.
The first limit is decided by referring to the WePP of the next week.
The second limit is on YPP (S1) 0.67273.
1-2) MPP (P) rose to 0.68568. It penetrated it.
If it functions as a support line, think of a long.
2-1) YPP (S1) 0.67273 penetrated downward. That worked as a support line.
short.
The first limit is MPP (S1) 0.66538
The second limit is above WePP in the next week above MPP (S2)0.65331.
2-2) penetrated below YPP (S1) 0.67273. It reached MPP (S2) as it was.
Wait for a short entry point.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
weekly
The current position is a difficult place to hit the YPP (S1) and the trend line.
Because it is a range market, I'd like to think about long at the bottom of the range.
However, as far as EMA is seen, the closest direction is down.
Therefore, long entry is a difficult place.
Unfortunately, I have not been able to trade so much this week, but I will also check off this time.
I will wait for a chance of a short.
<< tactics >>
1-1) MPP (P) rose to 0.68568. It acted as a resistance line.
short.
The first limit is decided by referring to the WePP of the next week.
The second limit is on YPP (S1) 0.67273.
1-2) MPP (P) rose to 0.68568. It penetrated it.
If it functions as a support line, think of a long.
2-1) YPP (S1) 0.67273 penetrated downward. That worked as a support line.
short.
The first limit is MPP (S1) 0.66538
The second limit is above WePP in the next week above MPP (S2)0.65331.
2-2) penetrated below YPP (S1) 0.67273. It reached MPP (S2) as it was.
Wait for a short entry point.
I would be grateful if you like it idea,give me follow or agrees!
------------------------- <Legend> --------------------------
Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thick line: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding round number.
Red thick line: Untrustworthy line for me
Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function
------------------------- <Legend> --------------------------
Note
That is a speculation conflict near WePP(P).
Trade closed: target reached
It was early after penetrating WePP(P).
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