NZDJPY : Resumes downtrend

FX:NZDJPY   New Zealand Dollar / Japanese Yen
271 2
Good morning traders,

NZDJPY resumed downtrend after pullback where I was stopped out. I entered short again at 74.8 , SL 75.6 on a daily close, let´s see how plays out

Many indicators support the view, Clear downtrend below 200 & 50 MA, new lowe highs, and bearish stock market

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6 Trading Rules :

1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The hard trade is the right trade

Josep Pocalles
May 03
Trade active: Stop moved to B/E , no risk on this trade
May 06
Trade active: Stop moved 78.2 , 60 pips protected, have a great weekend
May 09
Trade closed: target reached: Stop profit hit

Related Ideas

Thanks for sharing the "6 trading rules".
Realisto_FX SerialTrader
Welcome, I hope it was a good trade for you !
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