NZDJPY 60 Cloud Pullback "homerun" trade
Although the Monthly and Daily are up, there is, imho, a
high probability, low risk pullback trade setting up
NZD which has been on a Great Bullish run is showing signs of weakeniing,
specifically, on the Daily charts of NZDCHF and NZDUSD both finished yesterday with Doji's
GBPNZD and EURNZD were both Spinning tops.
NZDJPY had a bearish decision candle, although not an engulfing certainly the strongest
of all the pairs against NZD.
Their has already been a bearish cloud breakout but with a retracement back into the cloud
Trade setup:
Entry = 78.14 (the 60 Kejun Sen)
Stop = 78.78 (10 pips + 2 for spread above the Senkou A)
Risk = 37 pips
Profit Target = 76.23 (the Daily Kejun Sen)
Reward = 218 pips
RRR = 5.8 - 1
high probability, low risk pullback trade setting up
NZD which has been on a Great Bullish run is showing signs of weakeniing,
specifically, on the Daily charts of NZDCHF and NZDUSD both finished yesterday with Doji's
GBPNZD and EURNZD were both Spinning tops.
NZDJPY had a bearish decision candle, although not an engulfing certainly the strongest
of all the pairs against NZD.
Their has already been a bearish cloud breakout but with a retracement back into the cloud
Trade setup:
Entry = 78.14 (the 60 Kejun Sen)
Stop = 78.78 (10 pips + 2 for spread above the Senkou A)
Risk = 37 pips
Profit Target = 76.23 (the Daily Kejun Sen)
Reward = 218 pips
RRR = 5.8 - 1
Order cancelled:
trade did not trigger and market in consolidation
Comment:
