Evening traders,
Second analysis – NZDJPY – rejection from Daily S/R currently trading in a small equilibrium with the dynamic support being the immediate target,
Points to consider,
- Macro Trend Bearish
- Daily S/R Resistance
- Dynamic Support Confluence (200 MA)
- Oscillators Divergence
- Volume Declining
The macro trend is bearish with consecutive lower highs, price is currently establishing a probable bearish retest. This allows us to have a bearish bias on the market.
The Dynamic support is the immediate target as this area has technical confluence with the 200 MA & EMA. Price is likely to test for liquidity in this region before a probable impulse up.
Both oscillators are diverging, technical bearish divergence; this shows weakness in the market as price fails to break daily S/R.
Overall, in my opinion, NZDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion.
Hope this analysis helps!
Thank you for following my work!
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
Second analysis – NZDJPY – rejection from Daily S/R currently trading in a small equilibrium with the dynamic support being the immediate target,
Points to consider,
- Macro Trend Bearish
- Daily S/R Resistance
- Dynamic Support Confluence (200 MA)
- Oscillators Divergence
- Volume Declining
The macro trend is bearish with consecutive lower highs, price is currently establishing a probable bearish retest. This allows us to have a bearish bias on the market.
The Dynamic support is the immediate target as this area has technical confluence with the 200 MA & EMA. Price is likely to test for liquidity in this region before a probable impulse up.
Both oscillators are diverging, technical bearish divergence; this shows weakness in the market as price fails to break daily S/R.
Overall, in my opinion, NZDJPY is a valid short with defined risk. Price action is to be used upon management/ discretion.
Hope this analysis helps!
Thank you for following my work!
And remember,
“The expectation that you bring with you in trading is often the greatest obstacle you will encounter.”
― Yvan Byeajee
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Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Claim $1000 Deposit Bonus 🎁
Trade with perks & support the community!
partner.blofin.com/d/TheAlchemist
Stay sharp, trade smart.
— Team The Alchemist ⚔️
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน