NZDJPY might be a great reversal Short

New Zealand Dollar/Japanese YenFXCM

Description

⋅ Jan 27, 2017 11:35 AM

Waited patiently for NZDJPY to reach Resistance ~83.50
I thought it would reach it yesterday so I was LONG~82.8
TP1~82.9
TP2~83.4

Now good Risk-Reward-Ratio (RRR) on the Reversal SHORT.

Conservative Stop Losses to be put above the time-high at 83.75

And... see how this plays out!

Trade active

⋅ Jan 27, 2017 5:27 PM

Rejected the 83.74 level as expected, now seems to be boxed between that level and the former resistance at 83.5

Waiting to see which side it decides to go.

Comments

JunnBraimah

⋅ Jan 28, 2017 10:44 AM

are does lines Moving averages ?

AlbionTrader

⋅ Jan 29, 2017 12:48 AM

@JunnBraimah,

Yes, that is an MA Ribbon (flow of 3 Moving Average, I use Exponential ones).

Is there a particular reason for asking? :)