Good Morning,
Awaiting price action to retest historic resistance/support level thus creating a reversal and influencing my short position. NZD/JPY is heavily overbought via weekly chart; evidentially, this has happened on the three pinnacles that failed to break resistance level. Given the three failures, it's safe to say that this resistance level is very respected. Planning on entering the trade once price breaks the flag, illustrated above. Look for confirmation to enter, I also advise you to facilitate this trade on a lower time frame for a better entry. Please execute with your own due diligence.
Thanks,
Trade Wisely
Awaiting price action to retest historic resistance/support level thus creating a reversal and influencing my short position. NZD/JPY is heavily overbought via weekly chart; evidentially, this has happened on the three pinnacles that failed to break resistance level. Given the three failures, it's safe to say that this resistance level is very respected. Planning on entering the trade once price breaks the flag, illustrated above. Look for confirmation to enter, I also advise you to facilitate this trade on a lower time frame for a better entry. Please execute with your own due diligence.
Thanks,
Trade Wisely
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