NZDJPY - Possible Long Term Trend Reversal

FX:NZDJPY   Neuseeländischer Dollar / Japanischer Yen
Hi guys,

I mentioned this trade in my Twitter feed last week, but forgot to post here. There are lots of trend lines to support a trend reversal here, but this post is for our Currency Barometer users. We can use the Short Term Barometer (use the 8 minute interval) to time an entry for the trade like this. Trend reversals are usually bouncy and give us more than one chance to enter. Today we got a nice impulse to the upside and the Short Term Barometer gave us a clean entry. Remember, similar to an RSI or CCI , the 80 & 20 levels indicate an over-extension.

I usually open a currency (in this example the NZD) and then cycle through the time frames to see where it is bouncing the 'cleanest' off of 80 and 20. Then I make a note for that currency because that interval will hold true for months at a time. Hopefully that makes sense?

I was a little slow posting this, but you see the 80 level reached and rejected on the chart below:

I've been told this type of trading will be covered in detail via the new 4X Global live trading sessions. Stay tuned :D
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