NZDJPY - D - SHORT

Updated
Reason for short : We have a very MRSI on daily TF, but I'm seeing the trend as bullish on weekly and monthly. I think this a good time for healthy pullback or correction. So I'm not expecting all 4 TPs to be cleared.

Trade with your own diligence.
Note
TP1 hit 2 days ago, but big reversal coming up. I will re-analyse this pair when I'll have time.
Note
25% closed@TP2. SL@BE.
Trade closed manually
SLbe hit. Good whipsaw. If you didn't change SL, you can keep trade, it "should" continue downtrend. I will for re-enter, if possible... But to my knowledge it will be difficult seeing PA.
Note
This is on trade where my SLbe past TP2 was counter productive. As a trader, you need to check often previous 'average" trade. This idea was actually spot on.
Beyond Technical AnalysisChart PatternsNZDJPYshortTMSTrend Analysis

Also on:

Related publications

Disclaimer