NZD/JPY Prepare for SHORTEverything on chart :)
I follow the rule less is more!
Safe and secure entry would be waiting price breakdown trendline + EMA 12 but you might me little to late
So i would suggest here little more agressive entry, drawing trendline accurate on H4 and wait that price reach around EMA 200 (please check your charts) and after price BREAKDOWN TRENDLINE + EMA 12 enter short. Have in mind if you dont get nice breakdown do not enter, do not force and wait that candle closes below trendline + ema 12 not just that it breakdown but close, huh i complicated that :D!
We have very strong resistance above already listed on chart!
Risk reward is extreamly in our favour, maybe this is another 1000 pip or more trade :)
Enter : as i said... agressive on H4 trendline breakdown + EMA 12
More safe but waiting longer on DAILY 123 break of TL and EMA 12
Stop loss : above EMA 200
Enter with 3 same lot size positions at once
Risk : reward (TP1 = 1:1, TP2 = 1 : 2, TP 3 = 1: trailing)
Trailing :
Trail both positions to breakeven after TP1 hit (very safe but chance to get stoped out and miss major trend)
Trail last position only once TP1 and TP2 is hit (i would pick that! :) )
How to trail?
Normal : above EMA 36
Long term safe : above EMA 200
Type of trailing : manual only
Best regards
A.i
