Hello All,
I have identified a LONG swing trade on the NZD/JPY pair.
We have formed a reversing structure and launched off an hourly AVL.
Positive news on Japan's economic outlook just released at 6am UTC as well and price was immediately impacted.
As I expect this to be the beginning of a larger bullish trend on the daily time-frame, I have no exact target and instead am utilizing a trailing stop loss.
I have identified a key zone where I believe we might see some heavier resistance (illustrated by YELLOW PRICE TAG). This is a potential area to take some profit or exit the trade completely until new trade set-up occurs.
Updates to come.
Safe trading.
:)
I have identified a LONG swing trade on the NZD/JPY pair.
We have formed a reversing structure and launched off an hourly AVL.
Positive news on Japan's economic outlook just released at 6am UTC as well and price was immediately impacted.
As I expect this to be the beginning of a larger bullish trend on the daily time-frame, I have no exact target and instead am utilizing a trailing stop loss.
I have identified a key zone where I believe we might see some heavier resistance (illustrated by YELLOW PRICE TAG). This is a potential area to take some profit or exit the trade completely until new trade set-up occurs.
Updates to come.
Safe trading.
:)
Comment:
CORRECTION: "Postive news on Japan's economic outlook just released at 3am UTC..."
Comment:
first target reached.