FX:EURNZD   Euro Fx/New Zealand Dollar
3438 51 82
For some of my trades i will be publishing a review, trying to re-asses what happened and what could be done better.
In this trade, as you can see the trade was generally a good one, despite the fact that i was stopped out at break-even.

Original Trade (https://www.tradingview.com/chart/EURNZD/d6dypMB9-J-Trade-1-Counter-Bias-Short/)

So two main Takeaways from this trade is:
1- First target should be (5-10 pips)above the support zone i highlighted in red.
Its a great practice to put you target level just above a support zone when you are short, and just below resistance when you are long. In this case, i ignored this rule and wanted to enforce a better risk reward. If i did put my target above the support zone it would be around 1.5705 and that could guaranteed first target of 145 pips profit.

2- A new short entry was confirmed by the four-hour pin bar (the candle that stopped me out), I should have re-entered shorting again... with a stop above this candle high and a target at 1.5700 are again.

Thank You
Keep posted for more...
http://thefxchannel.com/
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Good review! Looping forward for A new trade! Good work technician
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Tijmen_K Tijmen_K
Looking*
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Same thing happened to me during this week, I set my target at the main support level and ignored a minor clear support level just above the main one, and it was not surprising to see that short position hit that level and bounce back. as said, there is no end of learning.

By the way, this is very noble of you to say that you were stopped out, other people would say that they won that position to show off, two thumps up..

Faisal
+1 Reply
Hi Tech,
Your Trades are very Good,though we are missing them by small things. That is Forex Trade. We are Least bothered. I want to attempt in a small way all ur 100 proposed Trades. In how many days,you could Complete Last100 Trades with 2000pips. This is Just for an Idea to us. In 2days,you gave 3good trades. Thx sudersan Rao.
+1 Reply
Technician TOP sudersanrao
Thanks sudersan. Hope whats coming is better..
+2 Reply
ajujohn Technician
Hi Tech,
I 100% agree with Sudersanrao... As I said earlier our entry point should be 10 to 15 pips above (if its a buy) the strong resistance and 1st target should be 10 pips below the resistance you choose... then may be we will some 20 pips but will get some profit... :)
Reply
Hi, Technician!
EURNZD has left a nice gap and reached the resistance area 1.6130, my pending order set at 1.6165. What do you think, can we count on a pullback to close the gap or not? Thanks!
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For me, i never do that. Its very risky to speculate on a counter trend move unless you see some indications.. Just my view..
+1 Reply
Technician TOP Technician
I.e, from this chart, we had specific tools pointing to atleast a pullback, so we tried to speculate on it and indeed it happened. Sometimes it wont happen , but it doesnt matter as long as you apply the process.
+1 Reply
Hi Tech,
Analysis is Great and helping us Learn and see what you see.
Thanks a Lot. Sudersan Rao.
+1 Reply
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