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
