TGIF Traders,
I am always excited whenever it’s a Friday.
A friend of mine checked my Whatsapp status last week and he chatted me saying:
“What is there to be happy about this Friday, we are all at home doing nothing”
I responded…
“Well, I trade the market, and sometimes it could be emotionally and psychologically draining, so every Friday gets me excited because I mostly don’t trade”
His response was…
“Ooooooh” (lol)
Anyways, between you and I, on Fridays I manage trades I took during the week, and if I have non to manage, I don’t open my laptop on Friday’s.
That said, nothing is cast on stone. Once in a blue moon, I do place trades on Fridays, and when I do, it’s mostly because those trade hit all my trading rules and in most cases, such trades occur late Thursdays, leading into Fridays.
One of such Fridays could be tomorrow.
Without further ado, let’s hit the charts…
1. NZD/JPY
Overall, the NZD/JPY is bearish.
However, we can see that on the 4 hours time frame price is locked within a descending channel.
Price is gradually crawling to the next resistance level (65.302).
Personally I have a bearish bias towards the NZD/JPY, hence I will be looking out for a bearish entry if a reversal occurs.
That said if price smashes through the resistance level, then I will just enjoy my weekend and be back on Sunday for another weekly review of the market.
What are your views fam?
For those of you who haven’t subscribed, do have an awesome weekend fam.
