Technician
Short

NZDUSD: Short At Resistance

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
2356 17 20
*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.

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My best regards,
Technician

==================================================================
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 trading ideas channel https://telegram.me/technician_forex_trades

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Skype: Technician - The forex channel
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
Hi alex, can you tell me where you usually go to find this info about news & currencies ? Thks
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alex.a MisterTrader
http://www.forexcrunch.com/live-forex-calendar/
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this is usually a continuation pattern, its there up also in the usdchf
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aircar moesalama
cool
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thanks technician for this post
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you've shorted a little bit too early.. now is the time to short it.. Shorted at 0,788.. Target I agree with you
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snapshot


Expecting downtrend continuation on daily :)
+1 Reply
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
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Technician TOP Technician
snapshot
+1 Reply
I liked this purely on your quip about your previous oil trade ;)
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Technician TOP Tom_Killick
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
Its fine :D as long as you're having more winning trade than losing.
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Technician TOP LastBattle
Aha, true, but its always not fine mentally..
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aircar Technician
right
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Sam0101 Technician
Hi technician, is this still valid. The momentum is going down now.
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