Technician
Short

(J) Trade 1 : Counter Bias Short

FX:EURNZD   Euro Fx/New Zealand Dollar
7461 163 212
Update 3: Stopped out at break-even
Profit= 0.
Balance= $30,000
---------------------------------------------------------------------------
Update 2: Price reached more then 90% of first target, so i moved stop loss to break-even.
---------------------------------------------------------------------------
Update 1: Entry was triggered .. Trade is active
==================================================================
Trade 1: Pending Short EURNZD             @ 1.5850
S.L @ 1.5955
T1 1.5690
T2 1.5480

For 30,000 Capital, and 2% risk per trade=$600, Position size = 0.8 lot ( 0.4+0.4)

==================================================================

Reasoning:
A reactive bounce is likely from potential resistance:
  • Main long term descending resistance
  • Fibonacci retracement 0.786
  • Previous Swing High
  • Shooting Star Candle

Wish me luck and best of luck for everyone.
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Technician
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Uppppps What have happened on this pair at 23:00h?
Reply
Interest rate cut from RBNZ
+1 Reply
moneymaking Technician
Protecting your capital first, is the most important thing as a trader.
+1 Reply
Technician TOP moneymaking
True
Reply
Update 3: Stopped out at break-even
Profit= 0.
Balance= $30,000
+2 Reply
Technician TOP Technician
As you can see guys, I was unlucky on this trade as price stopped me out at break-even before hitting my first target. A through update to this trade is coming in the next post..
+4 Reply
kmk.msp Technician
best of luck Sir, it is part of trading.
Reply
sharadkumarp Technician
never mind Technician, Keep going, good luck for next one
Reply
like a handcrafted clockwork congrats !!!
Reply
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