NZDJPY LONG TREND BASE TRADE
The market trend is bullish on daily charts, and we're currently at a key horizontal support. The daily candle shows rejection, and examining the one-hour chart reveals a formed double bottom pattern with a broken neckline above. An additional confirmation is a trend line that, when touched previously, caused downward movement; now it has broken above. So, with a double confirmation, we'll enter the trade at the neckline of the double bottom pattern on the retest.
Entry 90.13
Stop loss 89.75
Targets 90.74 & 90.95
Entry 90.13
Stop loss 89.75
Targets 90.74 & 90.95
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.