Short NZDJPY – breakout down from a consolidation in a bigger do
Trading idea on 1h chart:
Short NZDJPY – breakout down from a consolidation in a bigger downtrend
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Trading idea: stop sell order at 90.15, Risk-Reward = 2.22
SL@ 90.60 (-45), TP@ 89.15 (+100)
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NZDJPY was rejected by 91.80-92.20 resistance area and is since then in a downtrend on 4h and 1h with 20EMA as dynamic resistance.
- currently consolidation between 90.20 and 90.50
- breakout under 90.20 should start the next move down till 89.00-89.15
- after the breakout and the first rejection of 90.20, one could use 20-EMA as trailing stop (more conservative risk-reward approach)
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Short NZDJPY – breakout down from a consolidation in a bigger downtrend
________
Trading idea: stop sell order at 90.15, Risk-Reward = 2.22
SL@ 90.60 (-45), TP@ 89.15 (+100)
________
NZDJPY was rejected by 91.80-92.20 resistance area and is since then in a downtrend on 4h and 1h with 20EMA as dynamic resistance.
- currently consolidation between 90.20 and 90.50
- breakout under 90.20 should start the next move down till 89.00-89.15
- after the breakout and the first rejection of 90.20, one could use 20-EMA as trailing stop (more conservative risk-reward approach)
__________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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