the price of nzdjpy created rising wedge and broke out and pullback.
now it continue its trend with engulfing as confirmation.
The price can be seen as head and shoulder breakout to downside.
The stoploss is above engulf candle (depend on position size and risk preference)
The target is defined by fibonacci projection.
The risk reward ratio in this trade is 7
now it continue its trend with engulfing as confirmation.
The price can be seen as head and shoulder breakout to downside.
The stoploss is above engulf candle (depend on position size and risk preference)
The target is defined by fibonacci projection.
The risk reward ratio in this trade is 7