NZDJPY - easy trade or monster trap?
Those are the 'easy' charts that are so hard to trade.
Right now, it "feels" like the price has a good chance of breaking lower after the long trend and the current range. Many traders will jump the gun and enter way too early. Of course, the short breakout looks like a no-brainer after the fact.
FOMO is causing losing traders to get in too early and the pros know that. As long as the consolidation hold, the amateurs will get smacked around.
PATIENCE is the name of the game. This has the potential to be a great trade but if you enter too early, it will kill you and your account.
Right now, it "feels" like the price has a good chance of breaking lower after the long trend and the current range. Many traders will jump the gun and enter way too early. Of course, the short breakout looks like a no-brainer after the fact.
FOMO is causing losing traders to get in too early and the pros know that. As long as the consolidation hold, the amateurs will get smacked around.
PATIENCE is the name of the game. This has the potential to be a great trade but if you enter too early, it will kill you and your account.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.