NZDUSD <SWING TRADE> <SHORT>
Good day all,
First off, New year is coming which means time to start afresh and eliminate our fears and mistakes in terms of trading!
Some phycological note to remind ourselves
- Market can do anything it wants
- Any one trader can manipulate the market with 1 Trade!
- Keep trade position to 1% of account size!
- Let the trade play out
- Don't take losses personally as it is natural to lose!
TRADE <SHORT>
Technical Analysis
Trade sentiment: Sell
Confluence 1: Why sell bias? As drawn in the charts, Weekly trendline is a down trend. Inner up trendline has been broken. Long term outer up trendline has been broken. Price currently in sell zone
Confluence 2: Price making LHs and LLs in 4H charts. Price approaching golden zone of fib retracement of 71-78%.
Confluence 3: Price has reacted multiple times with "S" and "R" Support and resistance drawn in the charts. Which indicates that this is a key level and when price approaches this level there is a high probability of some sort of reaction.
Confluence 4: To me price is currently retesting the backside of the last up trendline which is the long term outer up trendline. Momentum seems to be slowing down in 4H charts.
Entry: Within Fib golden zone and near key level - 0.63664
Stop loss: Above 100% of fib retracement - 0.64174
Take profit: With relation of fibonacci, if price retraced to 78% its best to TP at 27% extension - 0.61796
Uncertainties: This is only the technical aspect of this trade, there are mayn upcoming news that may affect price action. We may have missed the boat as price already wicked from this entry zone on 30 Dec 22 candle. If price reach this level again we will take the trade.
Lastly, Happy new year to all and good luck!
Regards
Athena
First off, New year is coming which means time to start afresh and eliminate our fears and mistakes in terms of trading!
Some phycological note to remind ourselves
- Market can do anything it wants
- Any one trader can manipulate the market with 1 Trade!
- Keep trade position to 1% of account size!
- Let the trade play out
- Don't take losses personally as it is natural to lose!
TRADE <SHORT>
Technical Analysis
Trade sentiment: Sell
Confluence 1: Why sell bias? As drawn in the charts, Weekly trendline is a down trend. Inner up trendline has been broken. Long term outer up trendline has been broken. Price currently in sell zone
Confluence 2: Price making LHs and LLs in 4H charts. Price approaching golden zone of fib retracement of 71-78%.
Confluence 3: Price has reacted multiple times with "S" and "R" Support and resistance drawn in the charts. Which indicates that this is a key level and when price approaches this level there is a high probability of some sort of reaction.
Confluence 4: To me price is currently retesting the backside of the last up trendline which is the long term outer up trendline. Momentum seems to be slowing down in 4H charts.
Entry: Within Fib golden zone and near key level - 0.63664
Stop loss: Above 100% of fib retracement - 0.64174
Take profit: With relation of fibonacci, if price retraced to 78% its best to TP at 27% extension - 0.61796
Uncertainties: This is only the technical aspect of this trade, there are mayn upcoming news that may affect price action. We may have missed the boat as price already wicked from this entry zone on 30 Dec 22 candle. If price reach this level again we will take the trade.
Lastly, Happy new year to all and good luck!
Regards
Athena
Catatan
Partial profits taken! Good luck all.Order dibatalkan
Set SL to Breakeven
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.