The Great NZDJPY 5-in-1 Confluence Signal
Follows up this post on SiMSCI.
Good signals look the same. Everything the same only different time frame and different chart pattern.
How to trade?
There are only 2 ways to trade:
- Jump at market.
- Wait for retracement.
If you decide to jump, your risk is based on point 4. Downsize your position until the level you can sleep at night. If you decide to wait for retracement, wait for price to go back to 1-3TL or ‘3 YL’ and then look for 1-2-3-4 setups again but at lower time frame. As usual, jumping breakout is dangerous but retracement is not guaranteed. Faith required.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.