NZDJPY 60 min Cloud Breakout
Updated
The Monthly and Daily remain bullish
Have a text book cloud breakout
The only thing I don't like is the time
as it is 4 pm est and I prefer not to take trades
this late in the US Session, so I will wait for the Asian Session
which may provide for a pullback opportunity and/or a smaller stop
Entry = 77.95 above the Daily Tenken Sen (Red line)
Stop = 77.31
Risk = 64 pis
Profit Target = 80.23 (10 pips before the Daily D Ext.)
Reward = 228
RRR = 3.5 - 1
Have a text book cloud breakout
The only thing I don't like is the time
as it is 4 pm est and I prefer not to take trades
this late in the US Session, so I will wait for the Asian Session
which may provide for a pullback opportunity and/or a smaller stop
Entry = 77.95 above the Daily Tenken Sen (Red line)
Stop = 77.31
Risk = 64 pis
Profit Target = 80.23 (10 pips before the Daily D Ext.)
Reward = 228
RRR = 3.5 - 1
Note
The Breakout trade has not triggered yet and price is now fallingback. A great place for a pullback trade would be the confluence of
the Senkou B (top of cloud) and the 60 Kejun Sen (blue line) we need
a bullish bounce, ideally an engulfing or morning star formation, to enter.
Trade active
This trade is now live :)
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