Step by Step,
So eveyone can understand my idea, and read this chart.
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Feel free to leave your opinion on comments.
A - UPTREND
B - DOWNTREND
C - POSSIBLE UPTREND
QUICK BRIEF
We have here a general uptrend for the last couple of weeks, with multiple break throughs, I've marked the last ones ( B & C ).
During this weeks trading session, we had a break to the downside as you can see, breaking the UPTREND A, with a double top confirmation hours before the break through, and starting the DOWNTREND B during friday trading session.
On the last 3h of the trading week, we had the break through to the UPSIDE, with a possible UPTREND C.
I've marked the previous support with the light red line, setting an alarm on my green line ( because i might have to adjust my STOP LOSS to the dark red line, or either ENTER this position. )
This pair is crealy cruising through up and down channels, and according to the daily, 1H and 4h charts, all ods are in favor of this up channel.
I will keep a closer look when the pair approaches my TAKE PROFIT, because if it breaks through the RESISTANCE, it might keep its way up, maximizing the TAKE PROFIT PIPS.
This LONG position will be triggered by
- Re-testing the green/red lines,
- Breaking through the upper line on my bulish channel.
So,
NZDJPY
buy
SL 70.031 ( 47 PIPS )
TP 71.649 ( 115 PIPS )
So eveyone can understand my idea, and read this chart.
Don't forget to show me your love by FOLLOWING me, so you get nofitied everytime I POST .
Feel free to leave your opinion on comments.
A - UPTREND
B - DOWNTREND
C - POSSIBLE UPTREND
QUICK BRIEF
We have here a general uptrend for the last couple of weeks, with multiple break throughs, I've marked the last ones ( B & C ).
During this weeks trading session, we had a break to the downside as you can see, breaking the UPTREND A, with a double top confirmation hours before the break through, and starting the DOWNTREND B during friday trading session.
On the last 3h of the trading week, we had the break through to the UPSIDE, with a possible UPTREND C.
I've marked the previous support with the light red line, setting an alarm on my green line ( because i might have to adjust my STOP LOSS to the dark red line, or either ENTER this position. )
This pair is crealy cruising through up and down channels, and according to the daily, 1H and 4h charts, all ods are in favor of this up channel.
I will keep a closer look when the pair approaches my TAKE PROFIT, because if it breaks through the RESISTANCE, it might keep its way up, maximizing the TAKE PROFIT PIPS.
This LONG position will be triggered by
- Re-testing the green/red lines,
- Breaking through the upper line on my bulish channel.
So,
NZDJPY
buy
SL 70.031 ( 47 PIPS )
TP 71.649 ( 115 PIPS )
