Setup:
It was noted that NZDJPY could be dropping to 73.878
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
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: 77.225
SL: 78.120
TP: 75.628
Trade 2:
Entry: 77.225
SL: 78.120
TP: 75.628
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 180 PIPS
Total Reward:
5.5 % or 493 PIPS
Good Luck :-)
It was noted that NZDJPY could be dropping to 73.878
Our setup is complemented by the following:
1. Multiple timeframe analysis
2. Divergence
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: 77.225
SL: 78.120
TP: 75.628
Trade 2:
Entry: 77.225
SL: 78.120
TP: 75.628
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
Total Risk:
2% or 180 PIPS
Total Reward:
5.5 % or 493 PIPS
Good Luck :-)