Hi guys, the NZD is extremely over extended at the moment (see the linked post). All NZD pairs should correct soon. I like the NZDJPY. The pair is forming a double top (at least I think so). I know the NZD won't go much higher from here, so the NZDJPY should find resistance soon.
I am short @ 82.84. My stop and target are marked on the chart.
NOTE: this trade could take a few hours to turn, but prices 'shouldn't' go much higher. That why I entered at the double top price.
I am short @ 82.84. My stop and target are marked on the chart.
NOTE: this trade could take a few hours to turn, but prices 'shouldn't' go much higher. That why I entered at the double top price.
Note
That was fast :D Move your stop to break even. If it moves higher we want out. Remember, this is a 'counter trend' trade.Note
Out with profits.
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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.