Dollar New Zealand / Yen JepangPenjualan
NZDJPY - Bearish Engulfing
Diupdate
NZDJPY has formed a 100 score bearish engulfing pattern on the daily time frame.
The significant bearish engulfing is in the direction of the long term down-trend.
A very strong Bollinger Band out-break confirms this setups.
A move down will confirm the start of impulse wave 5.
Strong support formed at 79.3. SL set above previous highs.
TP set at strong support. 1:6 risk to reward ratio.
I will close this trade upon the close of the first opposing significant engulfing.
The significant bearish engulfing is in the direction of the long term down-trend.
A very strong Bollinger Band out-break confirms this setups.
A move down will confirm the start of impulse wave 5.
Strong support formed at 79.3. SL set above previous highs.
TP set at strong support. 1:6 risk to reward ratio.
I will close this trade upon the close of the first opposing significant engulfing.
Catatan
Price was quickly rejected at the middle Bollinger Band (20SMA) on the weekly time frame.Catatan
For a very low risk entry you may set a sell limit (blind entry) at the 50% retracement level of the bearish engulfing candle when measuring the daily high of the entry candle to the low. (Half of the engulfing candle's total length)A confirmation candle will further confirm this setup.
Catatan
Here is the current elliot wave count. It appears wave 5 has started.Trading ditutup: stop tercapai
-83 pips loss. There is still a possibility to short this pair if another bearish engulfing pattern is formed with a strong Bollinger band outbreak.
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