NZDUSD
The pair is bullish. In the short term, the pair is in another retracement.
We have our entry signal. 3 signals convergence:
1. The pair U-turned ay a Fibonacci retracement level,
2. We have a bullish engulfing candle, and
3. The pair had broken the counter trendline drawn across bearish candles of retracement.
Swing traders can enter Long position with a 1:3 % Risk to Reward ratio. With a potential risk of 55 pips, using the 1:3 Risk Reward ratio, we will be netting about 165 pips in profit.
To position traders, enter Long, place Stop 10 pips below A - 0.6541, and Limit at the Fibonacci D extension level - 0.7075.
To your trading success, Fx-Kalapanzy
No comments:
Post a Comment