NzdJpy has 2 selling scenario's based on last weeks bearish reversal candle. If we enter short at the todays open, we would have atleast a 1:1 risk to reward ratio. I've entered medium size short because I'm confortable with a large stoploss. If you want to wait, you can enter at much better price right by 82.8-83.0 which will give you a 2:1 ratio and even more since I'm expecting a little larger move to the downside.
Technicals: Go to the weekly chart and you will see a monthly resistance trendline and a double top
Fundamentals: uummm we dont do that here :) but perhaps people will buy less risky currencies over new years and new president of United States which equals to buying safe (USD and JPY) currencies.
評論
jojofang0901
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Thank you for sharing your idea, nice trade setup. I have similar view as well.