NZD/JPY SHORT/SELLNZDJPY has formed a head and shoulder pattern on the 4-hour time frame.
📉 Expectations:
Anticipate the pair to re-test key support levels as highlighted in the attached chart.
📊 Trading Strategy:
This trade is based on a combination of technical analysis and candlestick patterns. It's a long-term position, so ensure sufficient margin to manage market fluctuations. Implement proper risk management in line with your account size.
🚦 Trading Rules:
1️⃣ Rule 1: If the trade does NOT surpass our entry level (GREEN LINE ON THE CHART), Do not enter the trade.
2️⃣ Rule 2: When the market hits Target 1, consider closing some positions or move your STOP LOSS to ENTRY price for safe trading.
3️⃣ Rule 3: After reaching Target 1, avoid placing new trades based on the same signal/alert.
4️⃣ Rule 4: If the market consolidates for more than 2 days, close the trade and patiently wait for the next favorable trading opportunity.
Trade responsibly. Past performance is not indicative of future results.
Feel free to ask any questions or discuss further! 📊📉
