NZJPY Forecast and Trade Setup for the week ending 19th August, 2014
Monthly Chart
Weekly Chart
- Could be a double top for the year
- RSI is loosing momentum
Daily Chart
- Bounced of support with 200SMA, however nearest term resistance is holding
Hourly Chart
- Selling momentum is still very strong (just look at the chart with the straight verticle bars down, but on retraces are very choppy and hesitant. - this tells me, sellers are still in control.
Outlook Trade opportunity
Last week we had a good opportunity to short the market and benefited from it, for now, we would watch closely until market tells us or short scalps opportunity on rallies.
Risk Level __
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
NZDJPY Bearish Cypher Scalp 15min Chart - 15th August, 2014
15 Min Chart
- Pattern is forming at resistance
- Also at a 87 number
Hourly Chart from yesterday's analysis setup
Outlook Trade opportunity
Sell limit at 78.6 fib retrace level
Risk Level LOW
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
NZDJPY Trade Setup for 14th August, 2014
1 Hr Chart
- If prices do get to the R2 Daily Pivot , it has very good confluence levels there
- 127.2 Inverted Fib
- 200 inverted fib
- 78.6 Fib Retrace level
- and Daily Range high (using average pip movement per day)
- We also have two harmonic patterns identified from my EA which usually is a good indication as well,
- If you switch to a 4hr chart, the downward slopping 100SMA is at this level,
- We also have a small 1hr shooting star during asian session
Outlook Trade opportunity
Perhaps short trade opportunity now or later depending how you see the market
Risk Level Low
Tips -
Always take note of any economical news event on our provided calender below
Résuméabuiyad
