Setup:
It was noted that NZDJPY could be losing steam to fall to the 75.27
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 76.724
SL: 77.172
TP: 76.070
Trade 2:
Entry: 76.724
SL: 77.172
TP: 75.273
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1
TP2 - 1:2.5
Total Risk:
2% or 92 PIPS
Total Reward:
4.6 % or 209 PIPS
Good Luck :-)
It was noted that NZDJPY could be losing steam to fall to the 75.27
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 76.724
SL: 77.172
TP: 76.070
Trade 2:
Entry: 76.724
SL: 77.172
TP: 75.273
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:1
TP2 - 1:2.5
Total Risk:
2% or 92 PIPS
Total Reward:
4.6 % or 209 PIPS
Good Luck :-)
Note
Stop Loss Moved to 77.300
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.