Here is the Top-Down Analysis of NZDJPY (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 44 - 26 Oct
M > Market is moving in a downward channel, price tested resistance of channel and dropping after rejection. Price has already dropped till 0.382 Fib level on monthly bullish impulse.
W > Price tested resistance level thrice...
Forecasting a bear flag pattern to form before entering short.
Trade like the banks and financial institutions.
Do not aim for silly 20-30pips instead look for 90-100 pips and above.
Dont depend on Support/resistance lines because any line you draw with closed eyes will be a support/resistance in the past!
Dont depend on lagging...
Price is clearly formed a bear flag pattern. Hence looking to SHORT.
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Hope you have understood how simple it is to trade forex with out any support/resistance lines or lagging indicators.
And started to earn good profits as I have told you on what to do.
Just knowing the...
. There is a possibility of temporary retracement to suggested resistance line (69.55). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDJPY is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
Hello Trades,As per my previous analysis on NJ , Price has failed to push further downwards, there was bullish engulfing at current support level.Hence this would be a good buy opportunity once PRICE GETS RETEST AT CURRENT SUPPORT LEVEL.RISK REWARD RATIO 1:4.5 .Ensure that you use proper risk management with given StopLoss .Please feel free to Message me for your...