NZDJPY Short - 3 March 2017 (posted on 4 March 2017)
Background:
- Previously longed at the consolidation support and lost (taken on 22 Feb 201&0
- 2nd bearish reversal candle (shooting star) after testing 10/20 MA resistance
- This could probably serves as an indicator to breakdown of the rectangular consolidation
Entry:
- Sell stop with 20pips below the 2nd bearish candle @ 80.51
- In this point of writing, trade has been triggered
SL:
- Set at 20pips above my entry candle @ 81.7
PT:
- Set near to next swing high area on 9 Nov 2016 and before the 200MA resistance
- Previously longed at the consolidation support and lost (taken on 22 Feb 201&0
- 2nd bearish reversal candle (shooting star) after testing 10/20 MA resistance
- This could probably serves as an indicator to breakdown of the rectangular consolidation
Entry:
- Sell stop with 20pips below the 2nd bearish candle @ 80.51
- In this point of writing, trade has been triggered
SL:
- Set at 20pips above my entry candle @ 81.7
PT:
- Set near to next swing high area on 9 Nov 2016 and before the 200MA resistance
Trade active:
Updates - 11 March 2017:
- The week gapped down and closed lower, with friday candle closed a shooting star.
- It seems like the trade is going well and would expect TP by next week.
- However, could be weary of potential bull reaction at the 79 area with 200 exponential MA around that area. A 2nd bull signal at that area would trigger an early TP
- The week gapped down and closed lower, with friday candle closed a shooting star.
- It seems like the trade is going well and would expect TP by next week.
- However, could be weary of potential bull reaction at the 79 area with 200 exponential MA around that area. A 2nd bull signal at that area would trigger an early TP
Trade active:
Updates - 18 March 2017:
- The week started off with a pullback and then closed lower
- As the price moving towards the 200MA support, i am now considering to move my SL to my entry (which is above the gap down point).
- Next week could be crucial as i will pay attention of any bullish action upon testing of the 200 MA support. Any trade adjustment will be made if necessary.
- The week started off with a pullback and then closed lower
- As the price moving towards the 200MA support, i am now considering to move my SL to my entry (which is above the gap down point).
- Next week could be crucial as i will pay attention of any bullish action upon testing of the 200 MA support. Any trade adjustment will be made if necessary.
Trade closed: target reached:
Updates - 26 March 2017:
- Finally something to cheer about.
- Trade TP after 3 weeks and now reside at the 200MA region
- Finally something to cheer about.
- Trade TP after 3 weeks and now reside at the 200MA region
