Kiwi Yen Walking Long
Towards the end of May 2022 the Kiwi Yen was in consolidation on the intraday chart. With all 4 moving averages short and long coalesce and be within 40 pips.
Price has since broken to the upside and is clearly walking (trending) up a channel defined by the 2SD Bollinger and the 20 MAV.
A long trade is suggested from a pullback to the 20 MAV.
The target would be the prior swing high.
The trade is invalidated with price closing beneath the Bollinger SD lower channel.
The risk reward is conservative at 2+ .
Price has since broken to the upside and is clearly walking (trending) up a channel defined by the 2SD Bollinger and the 20 MAV.
A long trade is suggested from a pullback to the 20 MAV.
The target would be the prior swing high.
The trade is invalidated with price closing beneath the Bollinger SD lower channel.
The risk reward is conservative at 2+ .
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.