Hi Guys
We have interesting scenario on NZDJPY. Price is in the middle of two strong multiple daily levels. Upper LCS which is resistance now, and lower almost triple HCR which price broke and closed above last week.
Lets assume that price will first hit resistance. How You will manage this potential trade? Wait for PA and see if profit taking starts or enter short as touch trade trying to catch high? Or even wait for 1hr or 4hr signature which is something in between.
I'm asking because I think that if I was in long trade right now I would like to take full profit on that former LCS It looks strong.
We have interesting scenario on NZDJPY. Price is in the middle of two strong multiple daily levels. Upper LCS which is resistance now, and lower almost triple HCR which price broke and closed above last week.
Lets assume that price will first hit resistance. How You will manage this potential trade? Wait for PA and see if profit taking starts or enter short as touch trade trying to catch high? Or even wait for 1hr or 4hr signature which is something in between.
I'm asking because I think that if I was in long trade right now I would like to take full profit on that former LCS It looks strong.