NZDJPY
TRADE PARAMETERS
Pick Date : 06/11/18
Plan A
Entry : 76.83
Stop : 76.63
Target : 78.99
Plan B
Entry : 76.39
Stop : 76.19
Target : 78.99
TRADE STRATEGY
Income Type : Swing
ENTRY
Plan A is a fresh 1H demand zone RbR nested in a new 1D demand zone created on the last move up. Speculating a continuation of the bullish trend . Will be doing a set and forget limit order. One can enter in the zone at just use risk management and position size accordingly with the suggested stop. My entries are more conservative. Price will need to have a strong move into the zone for things to work accordingly. Plan B is also in place incase it blows the stop and hits the next zone. Plan A could be a bear trap.
STOP
20 PIPs right outside of the low for some protection.
TARGET
About 200+ PIPs up in a fresh 16H supply zone, that can be a headache.