NZDUSD: Sell Opportunity (#2 Trade - 50 Trades Journal)

Our second setup comes from the NZDUSD. Looking at the hourly chart what we may see is that price bounced from a key resistance level (sliding parallel of median line, and after breaking below the short term uptrend is now in a correctio, pulling back. MACD bearish divergence adds to our analysis on going short.

Setup: Sell

Entry level: 0.69173
Stop-loss: 0.69525
Profit target: 0.68450

Risk/Reward: 2.05:1

Total account (units): 99
Risk 1 unit

Tradewith care,
John

DISCLAIMER: You are solely responsible for your trading. The possibility exists that you could sustain a loss in excess of your initial investment.

Đã hủy lệnh:

We didn't get filled in this one, and the price dropped as expected. This trade is no more valid no matter what happens next. One unit returns to the initial capital.

Bình luận:

This was a great example on how important is to consider your trading decisions based on market structure. Since we didn't filled in our initial entry order and missed a drop to the down, structure changed and we cancelled the order. Price reached our stoploss when we we out of this trade..!

Trade safe at all times..!