GBPNZD Inside Day Play Triggered Short

FX:GBPNZD   British Pound / New Zealand Dollar
23 0 2
Inside day play as discussed in Kathy Lein's Book "Day Trading and Swing Trading The Currency Markets"

Two inside days had formed on the chart. Bearish Harami is 1st inside day. 2nd confirms. Short bias as indicated by a tag of upper BB, stochastic moving down w signal line cross,

A sell stop order was entered 10 pips below the low of the most recent inside day low. A stop loss and reverse buy stop order was entered 10 pips above the most recent inside day high. The sell order triggered earlier today.

Per the strategy rules, Take profit set at 2x amount risked.

For a similar set up, but with less bias confirmation look at GBPAUD             pair where you again have the two inside days formed.
Comment: Closed 1/2 position for 221 pips profit, moved SL to 100 pips profit, and canceled TP. Since I am at my desk this morning, I will manually trail this one and then set a trailing stop when I leave.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out