NZDJPY Short Trade Idea
I'm setting up a short position on NZDJPY with the following parameters:
Entry: 86.422
Stop Loss (SL): 86.666
Take Profit (TP): 85.675
Trade Rationale:
The NZDJPY pair is showing signs of bearish momentum, suggesting a potential pullback. This trade setup is based on technical analysis where a resistance level appears to be holding the price, creating an opportunity to short the pair. The entry is positioned at a level where price action indicates a possible reversal, with a stop loss just above to manage risk, and a take profit level set to capture gains as the price moves lower.
Strategy Considerations:
Risk Management: The stop loss is placed close to the entry to limit exposure if the market moves against the position.
Market Monitoring: Keep an eye on market conditions and any news affecting the New Zealand Dollar or Japanese Yen, as these can impact volatility and price behavior.
This setup targets a move downwards in NZDJPY and is designed to offer a favorable risk-to-reward ratio. Happy trading!
Entry: 86.422
Stop Loss (SL): 86.666
Take Profit (TP): 85.675
Trade Rationale:
The NZDJPY pair is showing signs of bearish momentum, suggesting a potential pullback. This trade setup is based on technical analysis where a resistance level appears to be holding the price, creating an opportunity to short the pair. The entry is positioned at a level where price action indicates a possible reversal, with a stop loss just above to manage risk, and a take profit level set to capture gains as the price moves lower.
Strategy Considerations:
Risk Management: The stop loss is placed close to the entry to limit exposure if the market moves against the position.
Market Monitoring: Keep an eye on market conditions and any news affecting the New Zealand Dollar or Japanese Yen, as these can impact volatility and price behavior.
This setup targets a move downwards in NZDJPY and is designed to offer a favorable risk-to-reward ratio. Happy trading!
Trade active
START TRAILING YOUR SL's BREAKEVEN NOW.... TAKE PARTIALS and re-enter upon continuation to TPNote
Am booking profits going into Newyork session ......Happy trading guys stay safeNote
GETTING TO FULL TP YOU CAN CLOSE Half or ALL those holding the trade should trail their SLTrade closed manually
GOT TO MY CLOSING HOURS ... SEE YOU ALL NEXT TIME
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.