Akil_Stokes
Long

NZDUSD: Retest After Breakout (A Very Favorable Risk Reward)

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
Hey traders here's a hard version of the trade I showed you in today's video (You can find the link to my youtube page in the "signature section" below).

Previously we were watching and involved ourselves in the ascending triangle breakout. Now that price action has returned to our previous level of potential structure support , we'll be keeping an eye out for another bullish trading opportunity.

The RED & GREEN box ARE NOT my entries,stops & targets (for those of you who like to blindly follow) It's simple a visual representation showing you how massive the risk to reward ratio can be on this particular trade.

Good luck today traders!!
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i never follow you blindly Akil
+5 Reply
CaimaMan Ian.Watts
So, goo to hell
+3 Reply
Ian.Watts CaimaMan
hey thats not nice
+3 Reply
Looks like you have an enemy
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Ian.Watts Akil_Stokes
looks like it Akil don't know what i said to upset them
+1 Reply
It comes with the territory
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As you shouldn't
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Oh maan, I didnt see that until you pointed it out, jeez, back to the drawing board. Thank you Akil
+1 Reply
You're welcome
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Agreed. Don't follow blindly. Follow wisely. To follow wisely a backtesting needs to be done: https://www.youtube.com/watch?v=beZhTtW1diU
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Buying a potential B wave correction? Looks risky to me!
+1 Reply
If the trade idea doesn;t meet your rules for engagement, then my advice would be to not involve yourself in the trade until it meets your requirements
+1 Reply
judderod Akil_Stokes
Looks like wave B is finished. You might want to move your stops to BE.
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Is that a possible 2618 trade if it retraces back down on the 240min?
+1 Reply
Looks like that could certainly be in the works
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And what is your opinion based on the butterfly pattern in H1 ?
+1 Reply
365ithelp 365ithelp
and ... its a doji in week
+1 Reply
Nice!
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I don't trade that particular pattern formation so it's not something I looking to get involved in
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365ithelp Akil_Stokes
there is another bat in h4 ... 1st target close to .72300, 2nd target .71720
+1 Reply
Good luck with it!
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news resulted in a stronger usd.... so is the trade still valid sir?
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TheSmartInvestor flirticious.xee
I think it is still valid, but I am not going long for now. Will wait what happens next week.
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I like to see the DXY/USDOLLAR first. But I still think the trade is valid.
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Hope you got out without too much loss
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