LONG NZDUSD LONG, RR 1 : 2.3
NZDUSD currently ranging around fibs level 61.8%, gaining support at 0.7420 area. A potential LONG can be executed with reasonable risk reward ratio.
Reason :
- 4 hourly chart, support at 0.7420 holding firm.
- Price rejection at fibs level 61.8%, hammer formed.
- Possible upside target to -27.2% fibs level @ 0.7600 area.
- Simple textbook price action in play.
- Reasonable risk reward to long.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 0.7400~0.7385 area ; TP : 0.7600 (+180pips) ; SL below 78.6% fibs level
Risk Reward 1 : 2.3
Always remember to trade with stop-loss, market is crazy & cunning*
Reason :
- 4 hourly chart, support at 0.7420 holding firm.
- Price rejection at fibs level 61.8%, hammer formed.
- Possible upside target to -27.2% fibs level @ 0.7600 area.
- Simple textbook price action in play.
- Reasonable risk reward to long.
- Potential to reach next resistance points :
Entry point Long : CMP or any pullback at 0.7400~0.7385 area ; TP : 0.7600 (+180pips) ; SL below 78.6% fibs level
Risk Reward 1 : 2.3
Always remember to trade with stop-loss, market is crazy & cunning*
Trade closed: stop reached
SL hit, nice try.
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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.
Related publications
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.