Technician
Short

(J) Trade 11: Trend following Short #Forex

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
4848 62 115
Update 3: Closed second half at 0.8420 as we are approaching weekend as Carney will talk on Sunday
Profit= $431+949.5= $1380.5
Balance= 29 211 + 1380.5 = $30 591.5

Update 2: First Target Hit, closed first half and Moved stop loss to break-even for the rest of the position.
Update: The Trade is Active

===========================================================================
Trade 11: Pending Short NZDCAD             @0.8550
S.L @ 0.8590
T1 0.8491
T2 0.8415

For $29,798.94 Balance, Position size = 1.8 lot

===========================================================================

Reasoning
  • Overall trend is down
  • Recently completed a bearish breakout below main support around 0.8600
  • Shooting star candle
  • Short term overbought signal on Stochastic

Don't forget to click the Thumbs Up
Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link
Journey to 100 Trades: Rules and Guidelines #forex


My best regards
Technician
Subscribe to my trading portal http://thefxchannel.com
My trading ideas channel https://telegram.me/technician_forex_trades

Get your gift : https://thefxchannel.com

Skype: Technician - The forex channel
Thanks
Reply
thanks and GL
Reply
Technician TOP Grygoriy.Lyashenko
Thanks, to you too..
+1 Reply
Thanks
Reply
thanks alot for ur effort. you're not just skilled but humble n down to earth.
+6 Reply
Many Thanks
+2 Reply
+1 to this comment
+1 Reply
Technician TOP AshleyWeyers
Thx Ashley
+1 Reply
do you got in the trades that you post ?
-3 Reply
TahirAli sheepskyfx
Come on man.Have a life.
Reply
sheepskyfx TahirAli
I was just asking a yes would be more respectful but that answer my question
Reply
Technician TOP sheepskyfx
No problem. Yes I do. Except this one only. Because my platform doesn't provide this pair.
+5 Reply
sheepskyfx Technician
thanks I just started to follow you so I was curious.
Reply
nigwe sheepskyfx
Watch your choice of words next time. It makes a lot of difference. Cheers!
Reply
Nice one man. Currently at 61.8%, rejected H4 pin bar.
Target 1 is most probable. But many buyers will be there. Making target 2 improbable.
Due to D1 bullish close out of inside bar pattern. These buyers would aim for 0.8640.
Previous support turned resistance, also 100% of down move. Thats where i would look to short, tentatively. But i rarely trade CAD pairs.
snapshot
Reply
Update: The Trade is Active
+3 Reply
LucyW Technician
Same here. GL!
Reply
dchua1969 Technician
hi technician

i took a look this morning at your call but could not find entry price
it seems to be well supported at o.855
my 1 hour chart shows price still above 10day MA

please enlighten me, are you looking to swing trade ?

tks
Reply
Thanks, I'm in. :-)
Reply
good luck!
Reply
Nice one, and Fibonacci is also with you, thanks!
Fib
Reply
i'm in @0.8558
Tnxs Tech!
Reply
Hi Tech,
I think this will give you 100% Profits till Tgt2.
You are the only, I know,who gives Entry, SL & Tgts.
This Helps Newbies ,a Lot.
I see many others,publishing without these,which doesnot mean anything to us.
Their Sucess, Failure stories are Hidden.Yours is an Open Book .Great. Keep it up.
Thx Rao
+11 Reply
JasperForex PRO sudersanrao
Well said. This is completely ´open book trading´including stops, targets, position sizing and impact on account balance and as such it provides an awesome learning opportunity for many because trading is more than forecasting a direction. It takes courage to do this!
+5 Reply
Great set up I am in!
Reply
great set up
Reply
I'm following you two days ago. Today I decided to open the order, according to you. And keep profits in the port already. Thank you very much, I think you're great.
Reply
I'm in....
Reply
Excellent speculation! Take profit hit!!! Thank you
Reply
profit hit! Thank you TECH..
Reply
Update: First Target Hit, closed first half and Moved stop loss to break-even for the rest of the position.
+5 Reply
TahirAli Technician
This thing is going down aggressively hope Tp2 will be hit soon.Thanks Technician for all of your sincere efforts.
Reply
Thanks for your support
+1 Reply
keep doing what you doing Technician you helping many traders establish their confidence with your guidence
+1 Reply
+67 pip, Thxs Technician...:)
Reply
Nice trade! Where are those commenting jokers from the other journey trade who were poo-pooing Technician?!?!?!!
Reply
NZDUSD is forming a divergence, so it means a possible relative weakness, hope this will help this trade
Divergence NZDUSD
Reply
FiresJVV JorgeEllena
Well done for spotting this. I am still short.
Reply
Update 2: Closed second half at 0.8420 as we are approaching weekend as Carney will talk on sunday
+1 Reply
Technician TOP Technician
Profit= $431+949.5= $1380.5
+4 Reply
IvanLabrie PRO Technician
Good one. Traders face drawdown, people need to understand it. Looking forward to next week's volatility.
Reply
Technician TOP IvanLabrie
True, thanks. I am happy for the overall experience
+2 Reply
One good trade compensates for losses. Have a great weekend.
+6 Reply
Tijmen_K Technician
And i missed this one cus i couldnt trade nzdcad.. But very nice trade! Good work!
+1 Reply
Full target was hit as well.
+3 Reply
Awesome trade, well done!
Reply
Technician TOP JasperForex
Thanks Jasper
Reply
ValeriuV Technician
hello, is 1.06 am where I live and I still can't let this week go, altought the trading platform is close for the weekend. I dont't know about you but I can use a good night sleep. Great weekend to all of you , and greater week ahead...
Reply
Thank you Technician
Reply
Hi Technician,
I closed all my positions before market close with some nice profits.
I can only thank you for that.May you live a very long,healthy and happy life.You are the man!!!!!!
Reply
No need to thank me man, its just a trade you took your self :)
Reply
Technician TOP Technician
its only a trade, who knows, the coming trades could be losers.
+1 Reply
ValeriuV Technician
even so , the learning experience itself worth losing some tradings, who knows, without this lessons our losses may be even bigger
Reply
Yep, the whole experience is meant to be educational for everyone including my self. And its very early to judge its success or failure, time and more trades will tell .
+5 Reply
ValeriuV Technician
indeed we learn as long as we live, but Im afraid once we learn to win this game "they" will change the rules
Reply
hehe, well lets just ignore this point for now :D..
+3 Reply
Well done! If there is a definition for the perfect trade this one comes close!
Reply
thank you sir
Reply
Nice call Technician with my thumb's up you get century..lol
Reply
Great one. I got out at 0.8435. I see it did reach your target.
WELL DONE!
Reply
I have been flicking through your trades and it seems you have been calling the right direction a lot of the time but you are missing out on entry by a few pips. Why not have multiple entries to average into a position in order to counter this? You have multiple exits after all.
I would split your entry into 2. The first has worse R:R due to worse location but its weighting could be a 1/3rd of your normal position size and it is simply there to act as a hedge in case you don't get done on your remaining balance. The second can be at the best possible R:R and you enter for 2/3rds which pulls your average up significantly.
You are slightly out of the money when you do enter on the second lot of your order but I think all of the profits from the first "hedge" order would outweigh that over time.
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out