nzdjpy if it rejected the closest resistance, we might be looking for sell entries
Second scenario , it breaks the resistance we go for long
BE aware if the price falls we might be getting HCH pattern
advise: first go for sell trade, now, the SL is very tie and TP is higher than SL, however if the price hits SL, wait for breakout and go for buy trade, with SL bellow the R-S only controle your Risk
remember, if your TP.SL ratio is 2-1 or 3-1, you can easily loose one trade or two, but the next one you willl recover the looses or even more in just one trade, only keep the proper lote size , do not exceed your risk more than 2% to 3 % of your balance
Second scenario , it breaks the resistance we go for long
BE aware if the price falls we might be getting HCH pattern
advise: first go for sell trade, now, the SL is very tie and TP is higher than SL, however if the price hits SL, wait for breakout and go for buy trade, with SL bellow the R-S only controle your Risk
remember, if your TP.SL ratio is 2-1 or 3-1, you can easily loose one trade or two, but the next one you willl recover the looses or even more in just one trade, only keep the proper lote size , do not exceed your risk more than 2% to 3 % of your balance