BULLISH MOVE AFTER RETRACEMENT ON NZDJPY

We have seen price show continuous bearish momentum on this pair. Price reached a critical point of support before it started it's bullish ascend. i will be looking for price to pullback around the price level where it currently is and retrace at least potentially 50% of the bullish move before price continues to move bullish . I will looking out for bullish divergence aswell.

Red line - SL
Green line - TP
Grey line - Entry
Risk exposure - 1%
Risk to reward - 1:2

If you want to learn how to trade and pick profitable set ups on a consistent basis. Send a message and don't forget to hit that follow button!

Happy trading

تعليق:

As you can see, price consolidated sideways before breaking out higher.