This week, I'm looking at NZDJPY with a bearish perspective, and here's my trade plan:
1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup.
2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade.
3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk.
By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week.
What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below!
Wishing everyone successful trading ahead!
1. Bearish Shark Pattern Confirmation at 91.74: I'll be patiently waiting for the Bearish Shark Pattern to confirm at the level of 91.74. This level coincides with the formation of a Head & Shoulders pattern, adding confluence to the bearish setup.
2. Extended Trading Targets: If the Bearish Shark Pattern sets up as anticipated, I'll extend my trading targets beyond the traditional Target1 and Target2. By doing so, I aim to capitalize on the potential bearish momentum and maximize profits from the trade.
3. Stop Loss Management: Once the market reaches the traditional Target1 of the Shark Pattern, I'll shift my stops to the entry level to protect profits and minimize risk.
By patiently waiting for the bearish setup to confirm and managing stops effectively, I aim to capitalize on the shorting opportunity presented by NZDJPY this week.
What are your thoughts on NZDJPY? Feel free to share your trade plans and insights below!
Wishing everyone successful trading ahead!
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.