BULLISH MOVE AFTER RETRACEMENT ON NZDJPY
We have seen price show continuous bearish momentum on this pair. Price reached a critical point of support before it started it's bullish ascend. i will be looking for price to pullback around the price level where it currently is and retrace at least potentially 50% of the bullish move before price continues to move bullish . I will looking out for bullish divergence aswell.
Red line - SL
Green line - TP
Grey line - Entry
Risk exposure - 1%
Risk to reward - 1:2
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Red line - SL
Green line - TP
Grey line - Entry
Risk exposure - 1%
Risk to reward - 1:2
If you want to learn how to trade and pick profitable set ups on a consistent basis. Send a message and don't forget to hit that follow button!
Happy trading
Comment:
As you can see, price consolidated sideways before breaking out higher.
