Buyers proved weekly boom

NZDJPY – Buyers proved weekly boom

Trend: Strong Buy

Support/Resistance:

R1: 71.545

S1: 70.827

S2: 70.525

S3: 69.983

S4: 69.455

Price action:

Market did a good scarface show right after market open with gap. Because the price is very strong on buyers side for many hours from the gap, it might happen to get slowly filled. But don't look for potencial gap because trending is buyers, and to go contra trend would be stupid. Tehnically if the price can hold above S1 then we can see following buyers targets. If not, it is just better to wait. For those who are in profit, we recommend to set you safety risk management.

Potencial trade idea:

Bulls targets:

T1: 70.827

T2: 71.545

Bears targets:

T1: 69.455

NOTE – We are trading NZDJPY via the preferred trading setups

ELITEFXACADEMY


Disclaimer: Martin’s views on the Chart analysis is ment as a trading advice for education terms; Education terms include: trading consistency to everyone who is reading this blog; for every advance student and for every Elite student who is using this analysis for managing his equity by Elite strategy and custom indicator. This analysis is understandable and transparent for all Elite students. This is a free content which is based from Academy in term of transparency to support and following progress to everyone. We know that there is always possible way that market can pull you out even when you follow our analysis blog and advice for a trade. We don’t publish where you have to have your risk management – Stop Loss, because, it would not be fair to Elite members, who learned this techniques in our Elite course.


Keywords:
Elite strategy, Custom Indicator, Fundamental Analysis , Tehnical analysis, Price action, Advanced strategies, Trading Education