Technician

Trade 7: Long EURNZD

Long
FX:EURNZD   Euro / New Zealand Dollar
4846 views
125
Reasoning
  • Bullish breakout above falling wedge
  • Breakout in the direction of the main daily trend
  • Bullish engulfing candle on the daily chart
  • Stochastic near oversold on the daily

Trade Levels

Entry: Buy at 1.5850 - Target 1: 1.5993 - Target 2: 1.6150 SL: 1.5778- Avg . RR = 3


This Trade will have Risk of capital of 1.5%

Stats before this trade
Number of trades: 6
Winning Trades : 2 Losing Trades: 3 Breakeven= 1
Net return: +1.6

Remember
-Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and year.

Best
Technician
Trade closed: stop reached: Profit= -1.5%
Net return after trade: +0.1%

Comments

Wow this is really good analysis
+2 Reply
You have given some cash to markets for free today, I am sorry for that, because EURNZD is a long setup indeed, I am preparing to go long on it after it gives the signal, will post a chart when I do so, you will have the chance to recover the loss too... anyway. if you were so anxious/impatient to take this trade as an early enter, before it gave any signal of breaking out from structure, you should have placed your SL under the low, structurally that is the invalidation point for this long setup... and the target can be way above the top, not only what you show, because this has a potential to go 1000 pips in an instance... and it will go that far, once it starts flying... patience my friend, patience is the key to success in trading ;) btw, congrats for your 60 trades conquest... it is a really good idea ;)
+1 Reply
Appreciate ur comments . Amatuers will always judge too early. lets see what happens after couple few months.
+1 Reply
Salimo1901 Technician
@Technician, The right mindset .. Salute Chief .
Reply
Koryphaeen Technician
@Technician, please, let us refrain from categorizing somebody as an "amateur" here on this site... it could be misunderstood that some of us are above these "amateurs" and it wouldn't be right, since we are all amateurs here after all, including you... unless you have some kind of certificate like a CFTe or MFTA or work as a full time trader at a brokerage or bank or somethin'... which I doubt ;) let the trades you take, and the execution of them speak for themselves, that is a good thought, will tell the whole story!
+1 Reply
Any trade could be stopped out, it doesn't mean it wasn't a good setup, this is the market. For me it's enough that this guy has the courage and confidence to take trades with clear targets ( SL and TP); something that many experienced traders out there don't do.
+1 Reply
@abood, Hi . I agree with you
+2 Reply
it was a good setup!!
+1 Reply
Thanks for posting!
+1 Reply
Love this. Wonderful trading style and risk profile.
+1 Reply
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