NZDJPY, 4hr timeframe, Detailed analysis of SHS/Double Top
Hello my friends,
This is my more detailed analysis to NZDJPY of my previous post.
Previously i posted about NZDJPY making shoulders head pattern and today price finally closing below 70.00-69.90 support on 4hr timeframe basis.
I tried projecting NZDJPY downward movement using Elliott Wave theory and it is possible price could go down until 68.20-68.30 area
I've sold NZDJPY with 2 positions
1st sell from 70.25
2nd sell from 70.00
For those who haven't entered NZDJPY sell position, you could wait for price to retest around 69.90-70.00 and enter sell there
Sell NZDJPY 69.90
Stop loss 70.65
Take profit 1 @69.10
Take profit 2 @68.30
RR Ratio 1:2
Use proper risk management
Good Luck
This is my more detailed analysis to NZDJPY of my previous post.
Previously i posted about NZDJPY making shoulders head pattern and today price finally closing below 70.00-69.90 support on 4hr timeframe basis.
I tried projecting NZDJPY downward movement using Elliott Wave theory and it is possible price could go down until 68.20-68.30 area
I've sold NZDJPY with 2 positions
1st sell from 70.25
2nd sell from 70.00
For those who haven't entered NZDJPY sell position, you could wait for price to retest around 69.90-70.00 and enter sell there
Sell NZDJPY 69.90
Stop loss 70.65
Take profit 1 @69.10
Take profit 2 @68.30
RR Ratio 1:2
Use proper risk management
Good Luck
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