Hi guys, This is one of those quick scalp trades that I hate posting, but I thought it might be helpful for some of the new traders. The NZDJPY is over extended at the moment and will pull back (probably a clean Fib level). As I am posting this trade, the NZDJPY has already dropped 8 pips, so you probably won't catch this one, sorry.
My trade levels are on the chart. Feel free to ask questions.
My trade levels are on the chart. Feel free to ask questions.
Comment:
I usually push my stop to BE pretty quick on fades. I use the 15 minute ATR and set my trailing stop to match. Usually 12-20 pips depending on the pair.