FX:NZDJPY   New Zealand Dollar / Japanese Yen
161 views
0
I truly don't remember when was the last time I traded this pair but today that might change as we have a beautiful Pennant here. Pennant has a measured move and the good part is that the RR with this pattern is always very good. So, short-term setup: looking for higher values. A conservative target on this case would a 50% of the measured move.

Comments

Price is will reach 50% of the measured move @ 89.163. It would be wise to rise the SL to breakeven when it happens.
Reply
Pattern is still valid but starting look fishy.
Reply
TradersClassroom capitalpropertiesfx
turning into a rectangle
Reply
capitalpropertiesfx TradersClassroom
:) indeed. difficult to say if this pennant is valid or not.
Reply
I really like this opportunity. Big risk reward ratio
Reply
capitalpropertiesfx TradersClassroom
Indeed RR is very good but be careful with this one as timing is not very good. London session is over and NY session is slowing down but this pattern needs volatility. But all in all - I also like the setup :)
Reply
TradersClassroom capitalpropertiesfx
Since it gapped up, I will be interested to see if it closed below Fridays close. Could signal a bearish tone... As with anything, stops and risk management are crucial.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out