ECHO | NZDJPY - Short opportunity.
Updated
Alongside NZDUSD, this NJ trade can come in handy with correlation to NZD bearish sentiment as a whole. Pending is based on:
- Key level break retest
- 50 fib retest
-Correlation with Nikkei
Smaller stop used here as with JPY pairs we hope to see a quicker reaction
ECHO
- Key level break retest
- 50 fib retest
-Correlation with Nikkei
Smaller stop used here as with JPY pairs we hope to see a quicker reaction
ECHO
Trade active
Likewise with NZDUSD we have a correlation between both NZD pairs. Now running +15 pips depending on where you entered from the short.Trade closed manually
Closing the trade around BE to mitigate potential losses. JPY index is moving against us, and no further correlation to support a pullback across JPY pairs.
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.