A Confirmed Possible Buy Trade on NZDUSD
Yes, the major trend of this pair is bearish but I can see a possible short term retracement on this pair and that is what we are trying to capture.
Which means this has a room to go a little higher first before it can go down further on the longer time frame.
With a daily candle confirmation to the upside for a minor reversal and multiple price rejections to the downside, we can take this trade as well since the risk:reward ratio is more than 1.
And with the trendline break on the 4 hour chart, this adds more reason to go upside.
So, let's go and let me know what you think if you agree or not!
Thanks and good luck if you will follow this...
Don't forget to manage your risk!
BUY ENTRY: 0.66400
Tp1: 0.66900
Tp2: 0.67400
Tp3: 0.68000
SL: 0.65400
Which means this has a room to go a little higher first before it can go down further on the longer time frame.
With a daily candle confirmation to the upside for a minor reversal and multiple price rejections to the downside, we can take this trade as well since the risk:reward ratio is more than 1.
And with the trendline break on the 4 hour chart, this adds more reason to go upside.
So, let's go and let me know what you think if you agree or not!
Thanks and good luck if you will follow this...
Don't forget to manage your risk!
BUY ENTRY: 0.66400
Tp1: 0.66900
Tp2: 0.67400
Tp3: 0.68000
SL: 0.65400
Trade active
Trade now active!Finally hit our buy entry... Good luck and don't forget to manage your trade...
Note
Note
Another Target 1 reached...50 pips locked in.. Move your remaining orders 5 pips above buy entry..
Note
Trade closed: target reached
Trade already closed but was able to hit Target 1 only after closing trade on breakeven. Bagged 50 pips profits only... :)
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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.
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.