Technician
Long

Aiming for a Quick Bullish Correction

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
455 3 3
Update: Slightly Missed Entry :|. Trade cancelled

The strong sell-off is testing the 61.8 retracement of the latest bullish wave, and the 50-days SMA . A bullish hammer at this support suggests a potential corrective wave.

Trade number: 65
Accumulated profit/loss (pips) = 2472

Pre-trade stats
Number of trades:64
Winners: 34 Losers: 22 Cancelled: 8
Profit/loss (in pips) = 2472
Open trades: none Pending trades: none
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is moved to breakeven
4. Second unit at second target
5. If 90 percent of first target is reached without triggering entry, trade is cancelled

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Update: Missed Entry. Trade cancelled
Reply
good analysis, these setups are such beauties. why not set the final target up to the 0.84 area?
Reply
Technician TOP Marius Johnsrud
Because Overall i still feel there is more downside
Reply
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