Evening Traders,
Today’s analysis – NZDJPY- trading at a key trade location where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
VWAP & .618 Fib Confluence
- Swing High Objective
- Below Average Volume
NZDJPY’s immediate price action is corrective and it trading at a key trade location that has technical confluence with the VWA S/R, the .618 Fibonacci and the Local S/R, allowing for a valid entry.
The current volume profile is below average, am influx is imminent when testing a key trade location.
The current objective is the swing high, exceeding this level will lead to a trend continuation.
Overall, in my opinion, NZDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager
Today’s analysis – NZDJPY- trading at a key trade location where a bounce is probable,
Points to consider,
- Price Action Impulsive
- Local S/R Support
VWAP & .618 Fib Confluence
- Swing High Objective
- Below Average Volume
NZDJPY’s immediate price action is corrective and it trading at a key trade location that has technical confluence with the VWA S/R, the .618 Fibonacci and the Local S/R, allowing for a valid entry.
The current volume profile is below average, am influx is imminent when testing a key trade location.
The current objective is the swing high, exceeding this level will lead to a trend continuation.
Overall, in my opinion, NZDJPY is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
“Amateurs think about how much money they can make. Professionals think about how much money they could lose.” – Jack Schwager