NZD/JPY (Short-Term-Trade) - Market Update:
We've been in a -STRONG- down-trend. Strong enough that our overall bias on higher time-frames may change to a down-trend. Almost all of today we have seen this pair retrace; which is normal after a long session of bearish movement.
As of right now; we are in a interesting spot. If we see price closing above at the end of this hour we could go back to a bullish movement. However; if we see price end up closing as a -BEARISH- candle we could have another down-trend movement as we are close to a 38.2% + T.L. rejection.
You could place a AGGRESSIVE entry at the end of THIS hour if we still have a nice -Bearish- closing candle. If you are looking more for a conservative entry you can wait until the close of the NEXT 4H candle and see if it is also a bearish closing candle.
Overall we have to be patient and see what happens in this scenario. My overall bias is that we are going to drop more; however as always I am NOT excluding the fact of a possible up-trend.
*This is NOT a signal. We are NOT responsible for any types of losses you may encounter. For information on our Advance Training and Mentor-ship please email us at TheForexClubFX@gmail.com
NOTE: We are currently holding a end of the month promotion. For more information please email us.
As of right now; we are in a interesting spot. If we see price closing above at the end of this hour we could go back to a bullish movement. However; if we see price end up closing as a -BEARISH- candle we could have another down-trend movement as we are close to a 38.2% + T.L. rejection.
You could place a AGGRESSIVE entry at the end of THIS hour if we still have a nice -Bearish- closing candle. If you are looking more for a conservative entry you can wait until the close of the NEXT 4H candle and see if it is also a bearish closing candle.
Overall we have to be patient and see what happens in this scenario. My overall bias is that we are going to drop more; however as always I am NOT excluding the fact of a possible up-trend.
*This is NOT a signal. We are NOT responsible for any types of losses you may encounter. For information on our Advance Training and Mentor-ship please email us at TheForexClubFX@gmail.com
NOTE: We are currently holding a end of the month promotion. For more information please email us.