NZDJPY - EASY 400pip Trade Setup!
NZDJPY has recently completed its bullish wave and now we are in bearish territory.
We can see that we're in wave 2, which is an ABC correction. We have a leading diagonal for Wave A which we've almost completed. We're looking for one more move up to complete the leading diagonal and then we'll be looking for a big SHORT.
Trade Idea:
- Watch for price to move up once more to reach the 618 fib and leading diagonal resistance
- Risk entry on rejection of the above
- Safe entry on break of the red trendline
- Targets: 83 (250pips), 81.2 (420pips)
We may bounce off the structure level for a Wave C so do keep an eye out for the bounce!
Goodluck and as always, trade safe!
We can see that we're in wave 2, which is an ABC correction. We have a leading diagonal for Wave A which we've almost completed. We're looking for one more move up to complete the leading diagonal and then we'll be looking for a big SHORT.
Trade Idea:
- Watch for price to move up once more to reach the 618 fib and leading diagonal resistance
- Risk entry on rejection of the above
- Safe entry on break of the red trendline
- Targets: 83 (250pips), 81.2 (420pips)
We may bounce off the structure level for a Wave C so do keep an eye out for the bounce!
Goodluck and as always, trade safe!
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