NZDJPY LONG
Price was in consolidation from a downtrend but eventually got above the 50DMA.
Price action has risen above all MA on lower time frame 1hr & 4hr 50and 200Ma respectively.
Price formed a 3 candlestick pattern and an extra confirmation candle forming in the upwards momentum.
Stop loss set below market break of structure in the sense that if price breaks below the 50DMA then the trade set up becomes invalid.
Take profit set at 200DMA. short term profiot target at 65.93 where range resistance can be found.
Price action has risen above all MA on lower time frame 1hr & 4hr 50and 200Ma respectively.
Price formed a 3 candlestick pattern and an extra confirmation candle forming in the upwards momentum.
Stop loss set below market break of structure in the sense that if price breaks below the 50DMA then the trade set up becomes invalid.
Take profit set at 200DMA. short term profiot target at 65.93 where range resistance can be found.
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