Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

NZDJPY analysis and buy trade explained - 25 April 2024 #forex fo #trading #shorts #fyp

25 Apr 2024 · 1 min

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Vladimir Ribakov analyzes NZD/JPY and finds a buy setup: the pair broke above falling trend lines on both daily and 4-hour charts, showing bullish MACD divergence and a rising ADX. He recommends buying dips as long as two support zones hold.

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Hello traders, Vladimir here from Home Trader Club, and here is why I believe NZDJPY could be providing a very interesting buy opportunity. Daily chart broke above the falling trend line after holding a strong support zone and making a bounce. 4-hour chart broke its own trend line on the red line, as you can see here on this chart. I love to call that a double time frame trend line breakout. After making a bullish divergence on the MACD while the market was making lower lows but MACD higher lows, the price flipped. Now the market is making— the price is making higher highs and the indicator higher highs. ADX indicator is bullish as well. Classical buy conditions. As long as these 2 support zones are holding, buy the dips is my trading plan.