Technician
Short

NZDUSD: Short At Resistance

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
2354 17 19
*Update: Stopped out
------------------------------------------------------------------------------------------------------------------------------------------------------------A non-ideal head and shoulders pattern, however price has printed a pin bar at the broken neckline, which turns now to a resistance around 0.7820 area, I am looking for a dip lower, hopefully will be better than my previous oil             trade.

Best of luck. Join me at https://twitter.com/thefxchannel
Also at my Facebook             page www.thefxchannel.com
My best regards,
Technician

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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
My live trades here https://telegram.me/technician_forex_trades
alex.a
2 years ago
Good plan but not the timing, tomorrow NZD trade data is expected to be positive, perhaps? ^_^ But who knows today's US data is super good and drag down to the knee.
+1 Reply
MisterTrader alex.a
2 years ago
Hi alex, can you tell me where you usually go to find this info about news & currencies ? Thks
Reply
alex.a MisterTrader
2 years ago
http://www.forexcrunch.com/live-forex-calendar/
Reply
moesalama PRO
2 years ago
this is usually a continuation pattern, its there up also in the usdchf
Reply
aircar moesalama
2 years ago
cool
Reply
thanks technician for this post
Reply
Alisho
2 years ago
you've shorted a little bit too early.. now is the time to short it.. Shorted at 0,788.. Target I agree with you
Reply
LastBattle Alisho
2 years ago
snapshot


Expecting downtrend continuation on daily :)
+1 Reply
Technician TOP Alisho
2 years ago
Yes, i was wrong on this one, sometimes i dont care if a trade stopped out, cause that's normal as long i assess things the right way, but on this one, i admit that i was biased. There is a potential for a three-drive pattern now
Reply
Technician TOP Technician
2 years ago
snapshot
+1 Reply
I liked this purely on your quip about your previous oil trade ;)
Reply
Technician TOP Tom_Killick
2 years ago
Well, should mention the losers as well, :).. U know some ppl think that trading should have only winners..
+2 Reply
and here is another losing trade, second in a row
+3 Reply
LastBattle Technician
2 years ago
Its fine :D as long as you're having more winning trade than losing.
Reply
Technician TOP LastBattle
2 years ago
Aha, true, but its always not fine mentally..
Reply
aircar Technician
2 years ago
right
Reply
Sam0101 Technician
2 years ago
Hi technician, is this still valid. The momentum is going down now.
Reply
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