NZDUSD short - 21 October 2016
Updated
Background:
- Key reversal off daily resistance and 50MA resistance
Entry:
- Sell stop @ 0.7172 (Was triggered in the time of writing this)
SL:
- Set at 50% of reversal candle @ 0.723
TP
- Set near recent daily low of 0.704
Alert:
- only 1 reversal candle of the area
- Key reversal off daily resistance and 50MA resistance
Entry:
- Sell stop @ 0.7172 (Was triggered in the time of writing this)
SL:
- Set at 50% of reversal candle @ 0.723
TP
- Set near recent daily low of 0.704
Alert:
- only 1 reversal candle of the area
Note
Update 23 October 2016:- Friday trading week end candle close lower the 20 Oct signal reversal candle
- To hold on to the trade
Trade active
Update 25 October 2016:- Yesterday session close a bearish candle which close lower than previous day low
- No adjustment is to be made, hold on to the current trade, hopefully will hit my TP within this week. :)
Trade active
Update - 26 October 2016:- Yesterday session close a bullish reversal candle
- To keep holding on to this trade due to:
1) Moving averages still in bearish harmony (10/20/50)
2) Price yet to have higher high than 25 October bearish candle
3) Price yet to close above 20 MA
Trade active
Update - 27 October 2016:- Yesterday session closed a bearish reversal candle
- Seems like seller is in control by refusing a new high close
- Nothing changes, keep holding on to the trade
Note
Update 28 October 2016- Price continue to go down, near invalidating the 25 October 2016 bullish candle
- Currently price is 50% towards my TP
- Seems like this trade will carry on to next trading week, more carry interest to pay :(
- To hold on to the trade
Trade active
Update 29 October 2016:- Aiks!!! Price pull back to nearly my entry point and formed a inside candle formation within 28 October 2016 bearish candle
- Nothing can be done now until market open next week
- Lets react only after next Monday session close
Trade closed manually
Update - 1 November 2016:- Yesterday session closed a inside candle doji
- Technically, price is in a neutral with multiple bear and bull wins over the pass session on top of yesterday doji
- Fundamentally, perhaps the soon to be released AUD rate statement has complicate the price, thus the undecided price as mentioned in point 2
- Therefore, to avoid further risk and keep to my profit, heavy heartedly, i have closed the trade with 18pips gain @ 0.715
^ To update again tomorrow to see how the trade plays out after the rate release
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