tommunt
Panjang

Possible long NZDJPY

OANDA:NZDJPY   Dolar New Zealand/Yen Jepun
27 5 2
There is a young uptrend on the 4hr and this nice deep pullback on the 15 minute chart. MA's are still suggesting an up move but will need to keep a tight stop as the 4hr does show a possible double top . I think that this might at least re-test most recent high which would allow a long entry to have it's stop moved to break even.

We will wait for an entry signal!
Closed at nearly 4-1 Reward-Risk
Balas
New high means that the new higher low is valid. As price is struggling at 83 level moved stop to break even.
Balas
Well we are in! Positive candle stick pattern off the 50EMA as well.
Balas
@tommunt, Great trade! I'm bearish on this now because of the supply zone above 83
Balas
tommunt CarnellTate
@CarnellTate, it is definitely struggling at that 83 zone so could go south from here. Tight stop and wait and see. Good luck!
Balas
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