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 :-)
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.