NZDUSDPrice has retraced to the 0.685 resistance.
I have shorted the pair with take profit at swing low.
It is also good to note the weekly bar (if it closes as it is) will form a strong bullish pin bar at a key weekly level.
This will then contradict my short term bearish bias.
Either way, until price closes significantly above the 0.685 resistance, i am bearish !!
Stop loss above 0.685
Trade closed: stop reached
Note
Re-entered the trade after the formation of a bearish daily pin bar.Entry price: 0.683
Stop loss:0.687
Take profit: 0.669
Trade active
Trade already at 1R.I have just moved my stop loss to break even.
Its now a risk free trade.
Note
Trade active
Trade now past 2R.I have moved my stop loss to 1R.
Trade active
Trade now past 3R.I have moved my stop loss to 2R
Note
Stop loss was hit when i was asleep.Trade closed at 2R
Trade closed manually
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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.