NZDJPY descending wedge formation
A descending wedge formation, have formed.
The price have been in a down trend, since end of January.
The price have hit a support level from december 2017.
and can be signalling a short term revers in the trend.
If the price breaks the wedge. Point ((c)) will be the reversal level, where
The resistance line in the wedge will be the TP
For now its a long setup, with entry at this level and SL at 74.961.
_____
1. descending wedge formation, with correlated Wave´s
2. Bullish divergence. ( the the green line in the RSI and Chart)
3. Supportlevel have been hit.
4. Bullish morning star formation.
The price have been in a down trend, since end of January.
The price have hit a support level from december 2017.
and can be signalling a short term revers in the trend.
If the price breaks the wedge. Point ((c)) will be the reversal level, where
The resistance line in the wedge will be the TP
For now its a long setup, with entry at this level and SL at 74.961.
_____
1. descending wedge formation, with correlated Wave´s
2. Bullish divergence. ( the the green line in the RSI and Chart)
3. Supportlevel have been hit.
4. Bullish morning star formation.