What's the only thing better than a doji? A DOUBLE DOJI! And that is exactly what we might be seeing today on NZDCHF
. Traders may recall NZD plunged last week when the RBNZ raised rates on NZD. Now, after price plummeted to a major support level
, we are seeing what looks like a double doji
. I'll take this as a sign that the bears may be exhausted, and that the primary uptrend on the daily chart
is ready to resume. I've entered at 7721, with my stop at 7691, and my target profit at 7871. This provides a risk/reward of 5.