Why am I looking to trade NZDCHF LONG?
Why am I looking to trade NZDCHF LONG?
Reason:
We have an extreme peirce candle outside of the Bollinger band.
Looking left on the daily chart we are in a solid area of support and resistance (blue and red boxes) price has respected these areas before.
Some traders may consider the Bollinger break candle on the 60 min chart as a valid double bottom reversal
Entry:
5 pips buy stop above the current pin bar
Stops:
5 pips below the previous extreme candle
Targets:
Target 1:
1:1 – 0.6544
Target 2:
4 pips below daily high
As always good luck in the markets,
TradeEasy.
Reason:
We have an extreme peirce candle outside of the Bollinger band.
Looking left on the daily chart we are in a solid area of support and resistance (blue and red boxes) price has respected these areas before.
Some traders may consider the Bollinger break candle on the 60 min chart as a valid double bottom reversal
Entry:
5 pips buy stop above the current pin bar
Stops:
5 pips below the previous extreme candle
Targets:
Target 1:
1:1 – 0.6544
Target 2:
4 pips below daily high
As always good luck in the markets,
TradeEasy.
Trade closed: stop reached