NZDJPY possible reversal, Easy 200 pips.

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NZDJPY D1 has now dropped to a critical support/demand zone, which has been held by two day candles that indicate a potential reversal.
BUT
it is still possible for it to continue dropping to 76.861. UNLESS you want to SL below that(100+ pips), don't trade yet.
A MUCH MUCH better way to catch this potential reversal is to either
1) wait for it to break 78.412.
2) wait for it to drop to 76.861 and if Price Action would indicate a reversal, then GO long.

Aiming for 80.35(~200 pips).

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ملاحظة

Price reached 78.402, slowly. IF you have longed this at 77.83, take 50 pips and wait. Given the current price action, IMO, bears still have some strength. Watching(on 4H) closely for a good breakout. Or as likely, further drop to 76.861.
P.S.:The price action must also support long; not all kinds of breakouts would indicate long.

٣ أبريل ٢٠١٧

ملاحظة

Bears indeed have not lost momentum. STILL NOT a good time to SHORT.
Will STILL BE WATCHING.