NZDJPY Short opportunity with multiple confluences
1. Overall down-trend
2. Trendline going for a 3rd touch
3. AWR - Average weekly range HIGH is close to Fibonacci 0.618 AND the trendline
If the price respects the average weekly range it's lining up with the trendline and Fibonacci 0.618 at the same time.
These confluences line up perfectly and could mean a continuation of the down-trend. Good enough for me to take a short position.
2. Trendline going for a 3rd touch
3. AWR - Average weekly range HIGH is close to Fibonacci 0.618 AND the trendline
If the price respects the average weekly range it's lining up with the trendline and Fibonacci 0.618 at the same time.
These confluences line up perfectly and could mean a continuation of the down-trend. Good enough for me to take a short position.