NZDJPY: Example of a Short Trade
It is a rather risky short trade, which is based on a breakout signal below SMA200, the local uptrend line, and 70.00 support. MACD is bearish, and it supports a possible downward movement. RSI is bearish as well.
Here is an example of a possible trade:
Sell below 69.795
Stop above 70.250
Profit Target at 68.550
Risk per trade must be no more than 1-2% from the capital.
The alternative variant of how to trade in the exact market conditions:
we can wait for a retest of a new resistance zone formed by SMA200, the broken uptrend line, and open a short trade using a reversal signal.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Here is an example of a possible trade:
Sell below 69.795
Stop above 70.250
Profit Target at 68.550
Risk per trade must be no more than 1-2% from the capital.
The alternative variant of how to trade in the exact market conditions:
we can wait for a retest of a new resistance zone formed by SMA200, the broken uptrend line, and open a short trade using a reversal signal.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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