Stethostrade

Rising From The Wedge - Good Long Opportunity; 1100 Pips Ahead!

Long
OANDA:NZDJPY   New Zealand Dollar / Japanese Yen
If you look at the chart at bigger picture, you would find this pair has been bearish since Dec 2014 where we can plot two trendlines forming a falling wedge pattern.

In March 2020 , this pair has bounced from it's major TL drawn from 2007.

Price has break major key level - SBR zone at 69.550 - 69.590 and it also break the upper TL of the falling wedge .

Now it moves in the bullish ascending triangle pending breakout.

The bullish momentum is expected to continue as Yen looses it's strength against other currencies.

Entry : 69.580
TP 1 : 71.58
TP 2 : 72.50
TP 3 : 73.30
SL : 69.00

This would be a beautiful long term setup as you can keep it for few months until it reaches it's next major TL.
Trade active
Comment: Expand your stop-loss (forgot to mention)
Trade active: Hit 1st TP

Comments

Love this !
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Stethostrade IlliaRashau
@IlliaRashau, thanks buddy!!
Reply
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