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Technician
Aug 28, 2017 2:57 AM

Trade 30: Short NZDJPY Short

FX:NZDJPY240
New Zealand Dollar/Japanese YenFXCM

Description

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Shorted at: 79.25 ... T1: 78.57.....T2: 78.00.... SL: 79.70 .. Risk for Trade 2%

Trend resumption after minor pullback as the price broke horizontal support. Falling trend line acting as resistance.

For more details and all Stats goo.gl/rtfmna

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Remember
-Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and yea

Comment

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First target reached, closed half position and moved stop to entry.

Trade closed manually

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Closed all position near first target
Support and ResistanceTrend Lines
Comments
mantasg
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you are right that its downside but trade quality and stop placement is poor
samimikael
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upp !!!
truelyyy
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Look like Elliot wave 5, also showing divergence. I would not advise aiming for target 2.
Walentine
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@truelyyy, agree
TomPower
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Be careful with that one, that line has been tagged about 4 times, enough knocks at the door and it will break
Technician
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@TomPower, Let it be.
TomPower
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@Technician, it broke but u did get a good spike down prior
Paul_Mam
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Excellent call T. Like the $$$ which came with it .. that too while I was zzzzzz
Karaza
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It's going up
PipMaster2008
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@Karaza, yep, For now while 78.60/19 holds on daily closing basis, some rebounce seems likely.

But the pair already have some medium term bearish sign.

To the topside, 80.78/81.19 ideally cap any near term strength.

We'll look to chase it lower at better levels instead of directly trading against the trend.
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