NZDJPY: Possible Selling Opportunity
The price is moving sideways below the daily downtrend line. We don't have bullish signals as well as signals confirming the strength of buyers. If the price reverses from the daily downtrend line and breaks the support zone formed by SMAs and 70.00 support level, we will have a selling opportunity.
Here is an example of a possible short trade:
Sell below 69.650
Stop above 70.650
Profit target at 66.250
Risk per trade must be 1-2% from the deposit. The part of profit can be fixed at 68.500 support. Stop orders should be moved at the breakeven.
If the price breaks the daily downtrend line, it will be a bullish signal. It will be possible to search for entry points for long positions using the daily and hourly time frames.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Here is an example of a possible short trade:
Sell below 69.650
Stop above 70.650
Profit target at 66.250
Risk per trade must be 1-2% from the deposit. The part of profit can be fixed at 68.500 support. Stop orders should be moved at the breakeven.
If the price breaks the daily downtrend line, it will be a bullish signal. It will be possible to search for entry points for long positions using the daily and hourly time frames.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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