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Fxprotrader
Nov 10, 2017 9:20 AM

NZDUSD:Pending Buy Setup (#7 Trade) Long

FX:NZDUSD60
New Zealand Dollar/U.S. DollarFXCM

Description

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Price is moving into a rising channel and is retracing to its lower parallel into a corrective structure. Buying the retest of the parallel is a nice idea.

Setup: Buy

Entry level: 0.69286
Stop-loss: 0.69078
Target: 0.69800

Risk/Reward: 2.6:1

Trade with care,
John

DISCLAIMER: You are solely responsible for your trading. The possibility exists that you could sustain a loss in excess of your initial investment.

Trade active

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Trade closed: stop reached

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Trend AnalysisSupport and ResistanceNZDUSD
Comments
melvin414
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we were stopped out .... but i took a lesson from this trade ...interms of price action ...we didnt get a rejection candle on the support but instead we got a strong breakout and a retest on the support which turned into a resistance .... Thank you Mr John
melvin414
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loooks like a trend is broken ..... support didnt hold ...
Fxprotrader
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@melvin414, That's right but my setup is still active
yang.qiu.data
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@Fxprotrader, why you hold if trendline broken?
Fxprotrader
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@yang.qiu.data, Because it pulled back into a corrective structure.
humanmega
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@Fxprotrader, i always lower both of my stop loss and take profit and it always turns out to make a profit
melvin414
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@Fxprotrader, so you stick with the stop loss ? and the plan i see
yang.qiu.data
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is is the trendline broken now?
Fxprotrader
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@yang.qiu.data, Yes
bruma
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@Fxprotrader , with what leverage do you trade?
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