NZDJPY Long intraday 4/2/2014

Beginner Questions Candlesticks, Chart Patterns, and Price Action
1

NZDJPY M15

NZDJPY 4.2 M15.jpg700×425 31.3 KB

Descending channel pattern
Strong selling into a defined demand zone (Exhaustive in nature)
Increased presence of buyers (volatility increase - prime for reversals of trends)
Multiple stochastic divergence
Best of all - Triple Roll! :slight_smile:

Note: My intraday strategy includes using basic patterns + stochastics on M15 and below time-frames. I advocate the use of no indicators religiously, except as a secondary/thirdly confirmation on charts < M15.

Long @ 88.81
Target @ 89.15

HD Link to chart

2

Out of trade - 22pts and triple roll bagged.
There’s something to be said about finding a bullish opportunity, on a Wed, on a carry currency pair just over a few hours away from NY close… :slight_smile:

Final screenshot:

22 profit nzdjpy.jpg700×421 32.1 KB

HD Link to image