NZDUSD is in a clear downtrend, but has now snapped back to a resistance level that coincides with the 50 SMA. At the same time, we're seeing price action stall and reversal candlestick patterns form. I've got my stop just above the recent swing high, and my target profit is the support based on the weekly chart. This gives me a reward/risk of about 3.5.
Learn more about trading: www.informedtrades.com
Learn more about trading: www.informedtrades.com
