In this video, we analyze a trading setup for NZD/JPY, highlighting a key support level that has influenced price action. The price bounced off this daily support level and began to rise, signaling potential bullish movement. Switching to the 4-hour chart, we identified an indecision candle, a strong indication that buyers may take control if price breaks above the high of that candle.
Currently, this trade is up 35 pips, and we’re monitoring for a potential pullback to retest support before resuming the uptrend. If price moves back up, we may adjust the take profit level to maximize gains.
🚀 Key Takeaways from This Trade:
• Daily support bounce leading to bullish movement
• 4-hour indecision candle confirming a potential breakout
• Trade currently up 35 pips with possible retest before continuation
• Strategy for managing risk and maximizing profits
Whether you’re a beginner or an experienced trader, this breakdown provides valuable insights into Forex technical analysis and trade management.
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