The downtrend in the daily timeframe. So gone for sell after the retracement in lower timeframe.
The market has provided a nice impulse move towards the upside and came down for a retracement at a 50% of fib retracement on a weekly time frame. Going down to the lower time frame the market has shifted from a 4 hr bearish market to a bullish market. So we took this trade with a good 1:2 risk to reward
The daily and weekly shows that the NZDJPY is in a strong uptrend. Going down to a lower time frame the market is in a correction of the uptrend and also using fib retracement the market has exactly taken 61.8% retracement and started to move up.
EURUSD is in a strong uptrend in the daily timeframe and came down for a deeper correction. Going down to the lower timeframe the market has shifted from a bearish market to a bullish market. That is the reason we are in this trade.
The market has provided a nice impulse move towards the upside and came down for a minimum retracement at a 38.2% of fib retracement on a weekly time frame. Going down to the lower time frame the market has shifted from a 4 hr bearish market to a bullish market. So we took this trade with a good 1:2.5 risk to reward