NZDJPY SHORT INTRADAY BREAK OUT TRADE SETUP Short

New Zealand Dollar/Japanese YenFXCM

Description

⋅ Jan 16, 2017 6:45 AM

Hello traders:

Spot this breakout opportunity on NZDJPY SHORT, targeting the daily support area of 80.00

4 HR chart found resistance line @81.85, formed a bearish flag pattern, then broke out of the support trend line.

Target : 80.00 (2.12% Profit)

Thank you for your support and feedback.

Trade: #12 (2017)
Date: 01/16/2017
Time: 06:00 GMT

Comment

⋅ Jan 16, 2017 7:01 AM

Trade closed: stop reached

⋅ Jan 18, 2017 4:31 AM

Price broke above resistance, take 1% loss on this trade.

Comments

MtxTrader

⋅ Feb 10, 2017 7:01 PM

You were stopped out because your support trendline was wrong. It is supposed to touch the wicks, not the body of the candle. If you don't agree, move the trendline on this setup to only touch the wicks and you would have seen that bounce up, bought, and made profit. Welcome.

jojofang0901

⋅ Feb 10, 2017 7:03 PM

@nikitafen46, thank you very sharing your idea.

No1_Playa

⋅ Jan 16, 2017 6:58 AM

So you favoring JPY pairs short?

jojofang0901

⋅ Jan 16, 2017 11:25 PM

@No1_Playa, Yes I am.