Note
-NZDJPY showing signs of reversal after buyers pushed price up to 74.2 but sellers rejected higher price at a level of resistance.
-This price action resulted in a 4H pinbar candle AT RESISTANCE which is a bearish sign meaning sellers may be stepping in and players long in the market may be taking profits.
-Stochastic is also overbought with bearish price action at resistance
Entry
-Keep enough distance below the low of the reversal candle to confirm a transition of power from bulls to bears
Stops and Targets
-Set stop above the high of the reversal candle with some buffer
-Set target 2 times your stop
*Always practice good risk management by risking a maximum of 1% to 2% of your capital on any given trade
-NZDJPY showing signs of reversal after buyers pushed price up to 74.2 but sellers rejected higher price at a level of resistance.
-This price action resulted in a 4H pinbar candle AT RESISTANCE which is a bearish sign meaning sellers may be stepping in and players long in the market may be taking profits.
-Stochastic is also overbought with bearish price action at resistance
Entry
-Keep enough distance below the low of the reversal candle to confirm a transition of power from bulls to bears
Stops and Targets
-Set stop above the high of the reversal candle with some buffer
-Set target 2 times your stop
*Always practice good risk management by risking a maximum of 1% to 2% of your capital on any given trade
交易結束：目標達成
Price quickly reached targets!
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