MisterTrader
Long

#NZDJPY: Bounce on Daily SMA200

FX:NZDJPY   New Zealand Dollar/Japanese Yen
138 3 2
Bounce on Daily SMA200 + Divergence on Monthly

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Trading rules are :
1. Trades are taken in 1, 2 or 3 units depending the situation.
2. If 90 percent of first target is reached I move stop loss to break-even.
3. If 90 percent of first target is reached without triggering entry I cancel the trade.
4. About targets : this is not an arbitrary approach, because every situation evolves different, targets will be adjusted according how price behave on key levels.
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My 5 tips to keep in mind that will save you from losing :
- Make sure to have enough Momentum on your side
- Use powerful confluences ( BRN             , major S/R, Div             , Trend-lines, Fibos)
- Have enough space to reach 2 Ratio:Reward at least, avoid tricky noise situations
- Good price action (pinbar, inside bar etc..) at bottom/top for a good price
- Enjoy your wins and learn from your losses

Wish you great success !
MisterTrader
2 years ago
seems good so far ! Need more momentum, will figure out what to do tomorrow morning when japan wakes up.
Cheers
Reply
MisterTrader
2 years ago
We can target 94.000
Reply
MisterTrader
2 years ago
Update
Level To Watch: #NZDJPY Meeting a Major Resistance at 90
Reply
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