Technician
Short

(J) Trade 1 : Counter Bias Short

FX:EURNZD   Euro Fx/New Zealand Dollar
7405 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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For Trades rules and guidelines follow this link
Journey to 100 Trades: Rules and Guidelines #forex


My best regards
Technician
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What if it does not touch that level 1.5850 ?
Reply
Technician TOP One_Trade_A_Day_777
2 years ago
6. If 90 percent of first target is reached without triggering entry I cancel the trade (Unless I state otherwise in my updates for the trade).

Journey to 100 Trades: Rules and Guidelines #forex
+5 Reply
MrQHTWinWin
2 years ago
Great stuff as usual, simple and useful. Been learning from you! Thanks! Keep at it.
+2 Reply
Technician TOP MrQHTWinWin
2 years ago
Thanks man, what matters is the profits now :)
+2 Reply
Delusion
2 years ago
I don't completely agree. This stop is too tight for taking advantage of the main long term somehow. I believe in this style it's better to go with the shorter term trend which is a strong up. I am completely new to your trading ideas though. Wish you luck :)
Reply
Technician TOP Delusion
2 years ago
Sure, one should trade what he sees.
+4 Reply
jetmac88 PRO Delusion
2 years ago
Hmmm...a 105 pip SL, 40 pips above recent highs. Seems reasonable to me. But I don't care about P/L ratios I just place stops in reasonable places. Try a smaller trade size, see if this trade works, then you can have confidence in Technician for future trade ideas. ATR is .0077
+1 Reply
Delusion jetmac88
2 years ago
Done! :D
Reply
No_more_Post jetmac88
2 years ago
i agreed.
+1 Reply
No_more_Post jetmac88
2 years ago
agreed .
Reply
Gigu
2 years ago
Good luck man :)
Reply
Technician TOP Gigu
2 years ago
Thanks
+1 Reply
mac_abra
2 years ago
As they say...when the sun rise, always do in the morning....
Best luck to all...!!! and thanks for sharing!
Reply
bharatest
2 years ago
Thank you technician
Reply
YuzukiChan
2 years ago
Maybe you should also warn the traders about adjusting the prices according to their spreads.
Reply
Technician TOP YuzukiChan
2 years ago
I think this intuitive.
+2 Reply
Looks viable, everyone expects a rate cut by the RBNZ this week.
I'm worried though, because everyone's also seeing rising wedges in gbpaud and gbpnzd, and that strong trendline in your chart in this pair.
The contrarian in me trembles a bit, but it does look good.
Reply
Technician TOP IvanLabrie
2 years ago
Yep mate, whats worrying is the strong bullish bias, we might get a reactive bounce though.
Many are expecting a rate cut as u mentioned, and the RBNZ might dissapoint
+2 Reply
IvanLabrie PRO Technician
2 years ago
You know what would be beautiful? If they cut rates and price falls anyway...Would be a very nice short.
Reply
Update 1: Entry was triggered .. Trade is active
+2 Reply
IvanLabrie PRO Technician
2 years ago
Good luck!
Reply
Technician TOP IvanLabrie
2 years ago
Thanks..
+1 Reply
Qaiser Butt
2 years ago
good luck all.trade is triggered and thanks Technician for your kind views.
+1 Reply
Technician TOP Qaiser Butt
2 years ago
Ur welcome. Hope it will be a successful one, however, if not its always fine , as it's just one trade.
+1 Reply
Qaiser Butt Technician
2 years ago
Hope so its going to successful.we all followers going to win this trade. But i do not mind if some how i lose it because Win and lose is part of Forex.
Reply
No_more_Post
2 years ago
SL 105Pips , Too far for me,
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DigitalMan PRO No_more_Post
2 years ago
take smaller trade position?
+1 Reply
No_more_Post No_more_Post
2 years ago
I meant, SL 105Pips , risk 2 % for 2 trades, and Profit 160 Pips for 1.52% and 370 Pips for 3.52%. SL too far TP also too far.
Reply
For 30,000 Capital, and 2% risk per trade, Position size = 0.8 lot ( 0.4+0.4)
+3 Reply
IvanLabrie PRO Technician
2 years ago
Technician, same exposure here but on GBPNZD.

GBPNZD: Correction spotted


I'd join you here otherwise.
+1 Reply
Technician TOP IvanLabrie
2 years ago
Strong short term bearish divergence, and 5 up waves. Hope it will retrace as well.
+3 Reply
Technician TOP Technician
2 years ago
Maximum risk 2% of Capital = $600
+2 Reply
What do you think guys, trade is in negative territory, would succeed or fail?
+1 Reply
IvanLabrie PRO Technician
2 years ago
snapshot


Some potential upside left.
Reply
IvanLabrie PRO IvanLabrie
2 years ago
Possible double top.
Reply
Technician TOP IvanLabrie
2 years ago
Lets hope so :D
+1 Reply
Sniper Technician
2 years ago
Looks like and I hope it's going to make a double top then fall, 1.5920?
Reply
Tijmen_K Technician
2 years ago
double top i think it will go down now :D
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ashif030
2 years ago
Done....:-)
Reply
ajujohn
2 years ago
Hi... Since EUR is strong against most currencies and NZD is weak, is it a good idea to sell this at this point? Also there is a GDP report of EUR is coming in another 6 hrs!!!
Reply
Technician TOP ajujohn
2 years ago
True, but this is already the past... Maybe its time for a pullback.. I use technical analysis.
+2 Reply
LucyW
2 years ago
Done. :-)
Reply
Kalahari
2 years ago
Just woke up and EURNZD rate is 1.58968 and there appears to be a strong uptrend. I'm taking the trade but at a higher entry point though. Best of luck to us all.
+1 Reply
No_more_Post
2 years ago
EURNZD



I got zero risk trade now.
+1 Reply
FXMONA
2 years ago
It creates a doji after shooting star. what will you say about it?
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anish_206
2 years ago
Hopefully it retraces back.
Reply
URIFX
2 years ago
I sell the double tops. Price may form ABC pattern at least! RSI divergence and low interested volume all support for sellers.
Reply
iznogood
2 years ago
joined@1.5910 good luck guys
Reply
Tijmen_K
2 years ago
Thnx technician for your great views i think this trade is very nice. Im with you :)
Reply
YvonneWen
2 years ago
There is no EURNZD in my platform ...... :-(
Reply
thanks technician
+1 Reply
PhilippeDelvigne
2 years ago
retrace in progress ;)
+2 Reply
faiz16
2 years ago
You're a genius, I have been trading on and off with no luck but finally I am getting some quality tips and experience and I am pretty sure this will take me somewhere at last. Thank you so much and keep up the great work.
+4 Reply
DrZ
2 years ago
Thank you so much for this great work, I appreciate the "Reasoning" section particularly, it really makes a lot of sense for beginners.
+1 Reply
shotal
2 years ago
Technician, you are genius! My pending order was at level 1.5840...+ 100 pips at the moment ))) hopefully we will reach the target 1.5690!
Reply
with the Greek mess, the euro is hard to trade. I don't hold euro trades very long in this environment, moving BE stops when possible. Trade in our favor now.
Reply
oxojeck
2 years ago
goal half-done
+1 Reply
anish_206 oxojeck
2 years ago
I'd say still 90 pips left for half done. But yeah...
Reply
andrein
2 years ago
nice, great first trade so far.. :)
Reply
Tijmen_K
2 years ago
Going well :D:D
Reply
Sniper
2 years ago
Took the double top entry and just closed out for +200
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sharadkumarp
2 years ago
Hello Technician, your prediction is working, magic :)
Reply
URIFX
2 years ago
Hit the 1st target! Thank Technician! :) I am looking for sell at correction!
Reply
anish_206 URIFX
2 years ago
T1 is @ 1.5690 right ?
Reply
Tijmen_K anish_206
2 years ago
indeed target 1 is hitted yet.
Reply
URIFX anish_206
2 years ago
I target @ 1.5710. I think many traders will get small profit there and the price may correct a little bit before going down by impulse wave.
+1 Reply
Roncriss
2 years ago
I followed the idea and made 100pips ,Thanks
Reply
Tijmen_K
2 years ago
closed out @ 88% of T1 now looking for a reopening
Reply
fxfan
2 years ago
As the rules stated, we should move sl to be now....great first trade for the journey..keep it up Sir :)
+1 Reply
YuzukiChan
2 years ago
You nailed it!
+3 Reply
Qaiser Butt
2 years ago
appreciate your effort Technician trade still running in profit 130 Pips. Keep holding it to next target i moved stop loss 100 pip below from entry. Sharing is Caring so keep sharing.
+1 Reply
LucyW
2 years ago
Yay! O(∩_∩)O
Reply
JGU
2 years ago
Do we have to move our SL to BE?
Where must it be placed?

Thanks.
+1 Reply
JGU
2 years ago
Following rules I understand we have to move our SL to 1.5858.
+1 Reply
Sniper JGU
2 years ago
Move your second position to BE after TP1 is hit.
+1 Reply
Kalahari
2 years ago
(J) Trade 1 is moving very nicely as predicted. Truly a great start to the 100 trades journey. Thanks!
+1 Reply
Update 2: Price reached more then 90% of first target, so i moved stop loss to break-even.
+6 Reply
mrkris Technician
2 years ago
The pair Is consolidating for about two hours now just above 1.57000. Think it will brake through considering the strong impulsive move earlier ;-)
Reply
ashif030 Technician
2 years ago
just awesome......
Reply
toninvestor
2 years ago
Good work! I think I missed it, but looking forward for the next one!
+1 Reply
TahirAli toninvestor
2 years ago
Don't worry as we still got 99 trades.hopefully after these 100 trade majority of us will be able to read the chart correctly and identify these trades by ourselves.I will always be indebted to this great guy "Technician".
+1 Reply
Technician TOP TahirAli
2 years ago
Thats too much, thanks :)
+1 Reply
Thanks ALL for your responses. Wish you a happy trade.
Trade is still active. stop loss at break-even (1.5853).
+8 Reply
anish_206 Technician
2 years ago
Thanks should be to you Technician for all your efforts. :)
+2 Reply
ashif030 anish_206
2 years ago
right anish :-)
+1 Reply
Forexer11
2 years ago
I think we, the followers helped to move the price towards south lol.
+2 Reply
LucyW Forexer11
2 years ago
lol.....I had the same thought with you! hahaha
Reply
alexfa Forexer11
2 years ago
hehehe... agreed!!
Reply
BTW, We didn't get any targets yet.
+1 Reply
Technician TOP Technician
2 years ago
Unfortunately missed first target by 10 pips
+2 Reply
Technician TOP Technician
2 years ago
Looks like we are heading to a break-even trade.
+2 Reply
Andrey.Ustinov Technician
2 years ago
1,5850 first then 1,56133 right near S2 and WW tgt
Reply
Technician TOP Andrey.Ustinov
2 years ago
You can start publishing your trades then
+1 Reply
Andrey.Ustinov Technician
2 years ago
snapshot
-1 Reply
Technician TOP Andrey.Ustinov
2 years ago
This is not a trade.
+8 Reply
Andrey.Ustinov Technician
2 years ago
1,5772 Sold lot size 150k units of currency
Reply
Andrey.Ustinov Andrey.Ustinov
2 years ago
average price cause have many enters on downfall
Reply
cal.vad0s Technician
2 years ago
in case of breakeven, if today high @ 1.5933 not violated, would you consider re-enter the market?
+1 Reply
Technician TOP cal.vad0s
2 years ago
True. Definitely i will look for new short signal.
+3 Reply
mac_abra Technician
2 years ago
But with this bullish euro...perhaps find an entry in E/U or G/U...?
(In case we are stopped out at BE...)
Reply
Technician TOP mac_abra
2 years ago
Lets see what the markets provide
+2 Reply
IvanLabrie PRO Technician
2 years ago
I covered my gbpnzd and pocketed 0.75%, the other half got stopped for break even.
Reply
Technician TOP IvanLabrie
2 years ago
Good one, congrats.
+1 Reply
GcNaif MOD
2 years ago
as usual one more good one tech
Reply
Technician TOP GcNaif
2 years ago
thx, still in play
+1 Reply
ajujohn
2 years ago
Hi, After had a doubt about this call... I took the position and made almost 100Pips. Thnks Technician...
Reply
Technician TOP ajujohn
2 years ago
Congrats to you, u are luckier then me :)
+2 Reply
Tijmen_K Technician
2 years ago
i surely think it will go down again
+1 Reply
YuzukiChan Tijmen_K
2 years ago
Me too. I've just doubled my position.
+1 Reply
Technician TOP YuzukiChan
2 years ago
Nothing guaranteed guys, take care.
+4 Reply
Mr_Pip_Singh Technician
2 years ago
Thanks Technician for the trade. I actually shorted at 1.59, which made my stop loss half the size of what it would have been had I shorted at 1.5855. Therefore I was able to take the full position off this afternoon, with still the same amount of pips as you set for Target 1. Being flexible is key in trading : )

Looking to get in again though on the short position.
+2 Reply
Technician TOP Mr_Pip_Singh
2 years ago
Great you booked some profits.
+1 Reply
Mr_Pip_Singh Technician
2 years ago
Just remembered, I think there is RBNZ today. So Just be careful everyone :)
Reply
BBFX Technician
2 years ago
I bought at 1.5721 ...we may see 1.62... There is always a BEAR view and a BULL view. :-) Good luck everyone. Thanks for your posts to date Technician. Really appreciate the sharing! :-)
Reply
Technician TOP BBFX
2 years ago
Yes and that what makes a market. Good luck to you as well.
+2 Reply
P_Parker
2 years ago
Hi, why was your entry 1,5850? Because of Price touching the descending resistance again after the Shooting Star?
Reply
Technician TOP P_Parker
2 years ago
It was an intraday resistance for me, thats why.
Reply
YuzukiChan
2 years ago
Since the first downward push missed the target, maybe we should move the second target a bit up, like 10 pips. What do you think?
Reply
TahirAli YuzukiChan
2 years ago
Yes you can do that.
Reply
Technician TOP YuzukiChan
2 years ago
Not sure what do you mean
Reply
TahirAli Technician
2 years ago
She wants to set second target @1.5490 instead of 1.5480.
Reply
Technician TOP TahirAli
2 years ago
Well, lets just get the first target for now...
Reply
YuzukiChan
2 years ago
We're about to complete WXYXZ. Take your positions, bears!
+1 Reply
Technician TOP YuzukiChan
2 years ago
:D ... Gotta give you a bonus trade if this works out :D
+2 Reply
anish_206 Technician
2 years ago
@Technician , if you could give us an update setup here for the second bearish attacks, that would be awesome. Please do.
Reply
YuzukiChan Technician
2 years ago
Agh!
Reply
tayokema YuzukiChan
2 years ago
To me, i don't even know the EURNZD pair. I feel that, Technician might be correct prediction of Shooting Star patten. So I put 30% of Capital :) Target 1 has been completed.
Reply
URIFX YuzukiChan
2 years ago
Price is going up! it seem to form AB=CD before going down? How about you YuzukiChan?
Reply
YuzukiChan URIFX
2 years ago
Oh, it's too late I see this now. I've managed to make a good deal of profit by not closing the position. Stop losses are for nooobz, you know... Joking : )
Reply
anish_206 YuzukiChan
2 years ago
So you're still In the short ?
Reply
ajujohn
2 years ago
SL triggered???
Reply
ashif030 ajujohn
2 years ago
trade closed at break-even

no loss, no profit :-)
+2 Reply
anish_206 ajujohn
2 years ago
Yes, I hope @Technician could give us an update setup here for the second bearish attacks, that would be awesome.
Reply
ashif030 anish_206
2 years ago
agree :-)
Reply
Andrey.Ustinov ashif030
2 years ago
snapshot
Reply
TahirAli
2 years ago
Looks like this thing is coming down again.
Reply
anish_206 TahirAli
2 years ago
Do we enter again ?
Reply
TahirAli anish_206
2 years ago
Not until told by "Technician".
+1 Reply
anish_206 TahirAli
2 years ago
Fine, I agree
Reply
anish_206 TahirAli
2 years ago
His 2nd Journey trade is active now FYI
Reply
TahirAli anish_206
2 years ago
I am filled but it cost me 19 pips for the spread its way too much.
Reply
Andrey.Ustinov anish_206
2 years ago
snapshot
Reply
Andrey.Ustinov Andrey.Ustinov
2 years ago
do whatever you want, none can force anyone to open position
Reply
URIFX
2 years ago
Price is going down, I had shorted from the top @1.58410 (6.18 fibo level)! If price break the side--way zone, a bear impulse wave comes soon!
Reply
Roncriss
2 years ago
i now SELL now
Reply
Andyle
2 years ago
Pin bar on 4chart. Will it keep moving down Techniacian ?
Reply
A tip: Write the date and/or time when you write the updates, so that traders can follow when you wrote them. (ex. 15-06-10 1 PM - UPDATE 1: )
Reply
moneymaking
2 years ago
Nice one Technician, I entered with aggressive entry on this one, near the doji. Waiting for target #2.
Reply
Prome PRO
2 years ago
snapshot
:)
Reply
Prome PRO
2 years ago
snapshot

Sorry :P
+1 Reply
mikebod PRO
2 years ago
Note NZ Central bank is making their interest rate decision today at around 5 EST. Could roil prices in either direction.
+1 Reply
moneymaking mikebod
2 years ago
Hey mike, since we are break even on this trade, its better to stay in it until the news comes. We might be able to hit target #2 or come close to it before the 5 pm news. Better to exit the position with as much profit as possible before the news. As you know 5 pm is also the time forex market closes and reopens within few minutes. Thank you for the reminder.
Reply
jetmac88 PRO mikebod
2 years ago
I dissagree, I think when the interest rate is released, price could either move up or down.
Reply
maku66
2 years ago
like a handcrafted clockwork congrats !!!
Reply
YuzukiChan
2 years ago
snapshot
Reply
Update 3: Stopped out at break-even
Profit= 0.
Balance= $30,000
+2 Reply
Technician TOP Technician
2 years ago
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
2 years ago
best of luck Sir, it is part of trading.
Reply
sharadkumarp Technician
2 years ago
never mind Technician, Keep going, good luck for next one
Reply
jpalba10
2 years ago
Uppppps What have happened on this pair at 23:00h?
Reply
Technician TOP jpalba10
2 years ago
Interest rate cut from RBNZ
+1 Reply
moneymaking Technician
2 years ago
Protecting your capital first, is the most important thing as a trader.
+1 Reply
Technician TOP moneymaking
2 years ago
True
Reply
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