NZDJPY LONG TREND BASE TRADE

16 thg 1

The market trend is bullish on daily charts, and we're currently at a key horizontal support. The daily candle shows rejection, and examining the one-hour chart reveals a formed double bottom pattern with a broken neckline above. An additional confirmation is a trend line that, when touched previously, caused downward movement; now it has broken above. So, with a double confirmation, we'll enter the trade at the neckline of the double bottom pattern on the retest.

Entry 90.13
Stop loss 89.75
Targets 90.74 & 90.95