I am looking to enter a buy position on NZD/JPY if the current 4-hour candle closes above the red descending trendline, confirming a breakout.
Trade Details:
Entry: 84.85, once a confirmed 4H candle closes above the trendline.
Stop Loss (SL): 84.19, placed below recent structure support to minimize risk.
Take Profit (TP) Levels:
TP1: 85.63
TP2: 87.18
TP3: 88.14
TP4: 89.11
Price has been in a downtrend, respecting the descending trendline (red).
A breakout and candle close above the trendline signals a potential trend reversal.
A recent higher low suggests bullish momentum is building.
Risk-to-reward is favorable, targeting multiple take-profit levels.
Trade Details:
Entry: 84.85, once a confirmed 4H candle closes above the trendline.
Stop Loss (SL): 84.19, placed below recent structure support to minimize risk.
Take Profit (TP) Levels:
TP1: 85.63
TP2: 87.18
TP3: 88.14
TP4: 89.11
Price has been in a downtrend, respecting the descending trendline (red).
A breakout and candle close above the trendline signals a potential trend reversal.
A recent higher low suggests bullish momentum is building.
Risk-to-reward is favorable, targeting multiple take-profit levels.
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.