NZDJPY Potential Reversal (Short)
Analysis at 4 hour
After making double top at 6Nov , 9Nov ,it indicate that there is possibilty of potential reversal i.e bearish trend because past repeat itself in future .
Further elaboration is that on 29 sep ,11 oct price touch its high then drop down and price now again touches 29 sep , 11 oct level therefore possibility is that price again drop down.
Short entry trigger if it move down ,retest horizontal support i.e 88.973 and make LH ,see bearish candles at 1 hr for confirmation
TP 88.081
SL 89.762
RR 1:1.5
If any rectification required in my idea , kindly let me know
Thanks
After making double top at 6Nov , 9Nov ,it indicate that there is possibilty of potential reversal i.e bearish trend because past repeat itself in future .
Further elaboration is that on 29 sep ,11 oct price touch its high then drop down and price now again touches 29 sep , 11 oct level therefore possibility is that price again drop down.
Short entry trigger if it move down ,retest horizontal support i.e 88.973 and make LH ,see bearish candles at 1 hr for confirmation
TP 88.081
SL 89.762
RR 1:1.5
If any rectification required in my idea , kindly let me know
Thanks
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