NZDJPY With a Beautiful .786 Fib Retracement

Let's do some fib scalping today. Here on NZDJPY we can see a nice fib retracement going back all the way to the .786 level. When you trade a retracement here you'd want to go long on any of the major fib levels. The lower level you pick the better risk reward you're getting as the expected upside increases significantly relative to the expected downside.

We've seen a confirmation of the .786 level here with a beautiful bounce and now the price is hovering around the .618 level. The price has been here 3/4 times already before in the past day.

I am going to put a long position here with a stop loss directly below the .786.

Enjoy!

Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.

- Trading Guru

--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!