NZDJPY: Sell the retrace short
I'm considering placing two limit sell orders in this pair, at the 89.503 mark.
I'll cover one once the first target is reached and place a buy limit at break even on the second order.
The premise is that I expect to see a mild move up, before crashing down and reaching at least my 1:1 r/r target level.
Invalidation level is the yellow line, yet stops are placed at the 91.372 mark for now, to maximize risk/reward.
Good luck!
ps: Hat tip to jangseohee, who made me realize we had this formation in this pair.
I'll cover one once the first target is reached and place a buy limit at break even on the second order.
The premise is that I expect to see a mild move up, before crashing down and reaching at least my 1:1 r/r target level.
Invalidation level is the yellow line, yet stops are placed at the 91.372 mark for now, to maximize risk/reward.
Good luck!
ps: Hat tip to jangseohee, who made me realize we had this formation in this pair.
