NZDJPY Bullish Reversal off SUPPORT > BUY!
Hey Traders and Investors, Once again, I'll be sharing my perspective on how I anticipate the price of NZDJPY to perform once the market re-opens. Let us learn and improve from our losses, adjust, and take advantage of the opportunities awaiting us this coming week; if you agree with this idea, HIT the boost button and follow me for more ideas - I do appreciate it 💯
- To begin, I've noticed that the market cycles from last week have been shifted this week and possibly into the coming week. On Friday + Sunday, the first support level from that week led the price to go up +1.12% in three trading days because of these factors
1st = The timing of this opportunity was accurate, with the gap between the bottom and top of this support level being 32.6 pips from each other.
2nd = This support level #1 had 9 bearish candle wicks touching it at the time, which ultimately gained the power and authority within itself to influence the price to go up 96.9 pips above the 9th bearish candlewick.
3rd = This was officially the first support level of that week, which had kept the price above it for 2 days straight
*The price of this support level was set between $86.356 and $86.690
(The process behind this BUY TRADE) - August 12, 2023
*While studying the market trends, I discovered this 2nd support level of this week with 11 bearish candle wicks touching it at the 14th hour of the chart time (14:00), which is more bearish candle wicks than the previous support levels from both weeks. This fact has convinced me that this support level #2 has potentially gained the power to influence the price to up 95 pips above the 10th bearish candlewick while preventing the price from hitting a 7 pip stop loss below the 9th bearish candlewick.
*The gap between the bottom and top of this support level is 32.6 pips from each other, which is aligned with the gap of the previous support levels that were effective and tested.
* The price of this support level #2 is set between $86.597 and $86.927
(GREATER CHARTVIEW 🌅)
(MY BUY POSITION OFF THIS 2ND SUPPORT LEVEL) - 8.12.2023
MY ENTRY PRICE will be set below $86.810 > The current price of NJ is $86.762
The price of my take profit will be set at $87.747 (93.7 pips)
The price of my stop loss will be set at $86.536 (27.5 pips)
- My risk management rules will be applied in this position (minimize loss and maximum wins)
REMEMBER = ALWAYS APPLY PROPER RISK MANAGEMENT ACCORDING TO YOUR TRADING PLAN NO MATTER WHAT = MAINTAIN YOUR ACCOUNT
- IF YOU FOUND THIS BENEFICIAL IN ANY WAY - YOU CAN SUPPORT ME AGAIN BY HITTING THE BOOST 💛 AND FOLLOWING ME FOR MORE IDEAS + OPPORTUNITIES WEEKLY
(Bk) Buomkuoth Nhial Reath 💎
JESUS CHRIST IS LORD TO THE GLORY OF GOD THE FATHER AMEN
- To begin, I've noticed that the market cycles from last week have been shifted this week and possibly into the coming week. On Friday + Sunday, the first support level from that week led the price to go up +1.12% in three trading days because of these factors
1st = The timing of this opportunity was accurate, with the gap between the bottom and top of this support level being 32.6 pips from each other.
2nd = This support level #1 had 9 bearish candle wicks touching it at the time, which ultimately gained the power and authority within itself to influence the price to go up 96.9 pips above the 9th bearish candlewick.
3rd = This was officially the first support level of that week, which had kept the price above it for 2 days straight
*The price of this support level was set between $86.356 and $86.690
(The process behind this BUY TRADE) - August 12, 2023
*While studying the market trends, I discovered this 2nd support level of this week with 11 bearish candle wicks touching it at the 14th hour of the chart time (14:00), which is more bearish candle wicks than the previous support levels from both weeks. This fact has convinced me that this support level #2 has potentially gained the power to influence the price to up 95 pips above the 10th bearish candlewick while preventing the price from hitting a 7 pip stop loss below the 9th bearish candlewick.
*The gap between the bottom and top of this support level is 32.6 pips from each other, which is aligned with the gap of the previous support levels that were effective and tested.
* The price of this support level #2 is set between $86.597 and $86.927
(GREATER CHARTVIEW 🌅)
(MY BUY POSITION OFF THIS 2ND SUPPORT LEVEL) - 8.12.2023
MY ENTRY PRICE will be set below $86.810 > The current price of NJ is $86.762
The price of my take profit will be set at $87.747 (93.7 pips)
The price of my stop loss will be set at $86.536 (27.5 pips)
- My risk management rules will be applied in this position (minimize loss and maximum wins)
REMEMBER = ALWAYS APPLY PROPER RISK MANAGEMENT ACCORDING TO YOUR TRADING PLAN NO MATTER WHAT = MAINTAIN YOUR ACCOUNT
- IF YOU FOUND THIS BENEFICIAL IN ANY WAY - YOU CAN SUPPORT ME AGAIN BY HITTING THE BOOST 💛 AND FOLLOWING ME FOR MORE IDEAS + OPPORTUNITIES WEEKLY
(Bk) Buomkuoth Nhial Reath 💎
JESUS CHRIST IS LORD TO THE GLORY OF GOD THE FATHER AMEN
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