We can see a triangle pattern forming on the H1 chart in NZDUSD
We can enter in this trade two ways in a short position
1. Entry at Reversal from the trend resistance and see if it breaks downside, if it breaks downside there is a minor support which can push the price up from there, then we will exit the trade with 3% profit and if it breaks the support also then we will exit the trade in Target 2 with 7.50% profit.
Stop Loss : 2%
Profit Target : 3% < 7.50%
2. This trade will be possible if the price breaks downside the triangle and supported by the Minor support then a retest to the trend support but couldn't break it, then we can enter a short position and exit with 6% profit, in this trade the Stop-Loss should be 0.80%
Stop Loss : 0.80%
Profit Target : 6%
👍
We can enter in this trade two ways in a short position
1. Entry at Reversal from the trend resistance and see if it breaks downside, if it breaks downside there is a minor support which can push the price up from there, then we will exit the trade with 3% profit and if it breaks the support also then we will exit the trade in Target 2 with 7.50% profit.
Stop Loss : 2%
Profit Target : 3% < 7.50%
2. This trade will be possible if the price breaks downside the triangle and supported by the Minor support then a retest to the trend support but couldn't break it, then we can enter a short position and exit with 6% profit, in this trade the Stop-Loss should be 0.80%
Stop Loss : 0.80%
Profit Target : 6%
👍
Trade closed manually:
Closed when price came near buy price because the pattern became Invalidated
and Many more...
👍 Stay Tuned.