EUR NZD long
both timeframe indicators are long
previous two daily candles indicate rejection of lower prices at this time (hammer type formations), off previous months resistance (potential support now)
price has retraced to 50% of the previous 4 hourly up swing and printed a hammer formation candle representing a 50% entry of the two daily candles
order placed long @ 1.59 35, stop 1.58 95 (risk -40pips), usual three targets
target 1 = R1 = +40pips @ 1.59 75
target 2 = prev swing high @ 1.60 60 (+125pips, R3)
target 3 = trailing stop behind 4 hour swing highs
If order is triggered and target 1 achieved, the stops on the remaining parts of the position will be moved to breakeven
both timeframe indicators are long
previous two daily candles indicate rejection of lower prices at this time (hammer type formations), off previous months resistance (potential support now)
price has retraced to 50% of the previous 4 hourly up swing and printed a hammer formation candle representing a 50% entry of the two daily candles
order placed long @ 1.59 35, stop 1.58 95 (risk -40pips), usual three targets
target 1 = R1 = +40pips @ 1.59 75
target 2 = prev swing high @ 1.60 60 (+125pips, R3)
target 3 = trailing stop behind 4 hour swing highs
If order is triggered and target 1 achieved, the stops on the remaining parts of the position will be moved to breakeven