Technician

(J) Trade 19 : Shorted at Double Top Neckline #forex

Short
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
72
Update 2: Closed all position at 0.8618.
Profit= $50.
New Balance= $29 155

Update: I added another 0.2 lot at 0.8655
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Trade 19: Short NZDCAD @0.8620
Trade Status: Active
S.L @ 0.8720
T1 0.8445
T2 0.8357

Balance= $28 000 Position size = 1 lot ~ 2.5% risk of capital
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Reasoning
  • Double top breakout on the weekly chart
  • Retest and rejection at the broken neckline
  • 1.271 extension for the latest abc

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