Pip Goal: 185.0 Pips (NZDCAD)Rejection Candlestick (Pin Bar) formed on the Daily Time Frame. Enter a short position.
Rejectioncandlestick
EMA 10 EMA 20 Pin Bar (Rejection Candlestick) StrategyEntry is 4013.39
Exit at 4065.64
Reward:Risk is 2.6R
Reward = 5225 USD
Risk = 2009 USD
Strategy is to enter at closing price of a pin bar (rejection candlestick) when the pin bar wick intersects the EMA 10 and EMA 20 in an uptrend.
How To Trade Support Resistance Levels
Price closed above EMA 10, EMA 20, Trend Line, and Horizontal Support & Resistance Level. Enter at close price of rejection candlestick. Close price of rejection candlestick is 0.73150. Set Stop Loss below EMA 20 Close Price and Low Price. Set Target at next support resistance level.
Support and Resistance Levels are:
EMA 10
EMA 20
Horizontal Line
Diagonal Line
High Price 0.73195
Close Price 0.73150
Open Price 0.73046
EMA 20 Price 0.72939
Low Price 0.72921
Close Price 0.73150
EMA 10 Close Price 0.73045
EMA 20 Close Price 0.72939
