Learn to trade by following my own personal trading blog.
The chart below illustrates a recent order I placed on GBPNZD. The reversal candlestick pattern at a resistance level is what I like to see, and with my stop loss placement relative to my target profit at support, the reward/risk was greater than 9:1.
The stop is a bit tight, though, and so there is a good chance this trade gets stopped out. If it does, I’ll consider shorting again if price reaches the next resistance level at the top of the range highlighted.