Strategy for EURNZD

Jan 11, 2015

See chart

Nov 28, 2015

Note

Trade Reflection
Target Hit: No
Target Trailed, why: No
Stop Hit: Yes - kissed.
Signal for entry: Upward sloping H&S, break of structure.
Trend continuation post stop breach: Yes, heavy.
Risk/Reward: 1:2.5
Poor Stop Placement: Awful.
Risk %: 5.5%
Reward %: 12.7%
Fundamental overlay: Somewhat - not good enough.
Would you take the trade today? What would you do differently?: Would be extra cautious going short into such heavy structure (all time historical low). There's no question I'd take this trade for a short once again and lose on it. (The cross did continue 1000 pips lower than entry so it was not exactly a bad trade idea.) I'd consider going long at 1.54 break or 1.577 break. Original stops would have to be extended to 1.60. The sharp pull back makes it a difficult trade overall. I imagine it would be very challenging for me to hold on to this position past 1.56 after entry at 1.50 - 1.53