Counter-Trend for Greater Profits

FX:NZDJPY   New Zealand Dollar / Japanese Yen
This week, I'm looking at NZDJPY with a bearish perspective, and here's my trade plan:

1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup.

2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade.

3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk.

By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week.

What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below!

Wishing everyone successful trading ahead!

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