Hello folks,
today I am going to share with you my recent NZDJPY trade I made just a while ago. I shorted NZDJPY at 84.666 with SL at 84.762 ad TP at 84.094. You see the risk to reward is huge here. I will trail the top loss every 10 pips as the price moves towards TP.
But let's get to the point why I shorted NZDJPY. This was purely a technical trade, though I keep in mind that there is NZD trade balance due to be released overnight.
The technical reason behind my short is pretty simple. NZDJPY hit the moving average with period 50 (sma 50) from bellow (which is a good sell signal) but at the same time there was another strong turning signal. The price reached the exact midpoint of the last downward cycle (run). This is a high-probability, high risk to reward ratio setup based on a confluence of the last run midpoint and moving average with period 50.
You can see it on chart here:
https://www.mql5.com/en/charts/2533270/nzdjpy-h4-armada-markets
So let's see how the price evolves and if you have any questions feel free to leave a comment bellow.
today I am going to share with you my recent NZDJPY trade I made just a while ago. I shorted NZDJPY at 84.666 with SL at 84.762 ad TP at 84.094. You see the risk to reward is huge here. I will trail the top loss every 10 pips as the price moves towards TP.
But let's get to the point why I shorted NZDJPY. This was purely a technical trade, though I keep in mind that there is NZD trade balance due to be released overnight.
The technical reason behind my short is pretty simple. NZDJPY hit the moving average with period 50 (sma 50) from bellow (which is a good sell signal) but at the same time there was another strong turning signal. The price reached the exact midpoint of the last downward cycle (run). This is a high-probability, high risk to reward ratio setup based on a confluence of the last run midpoint and moving average with period 50.
You can see it on chart here:
https://www.mql5.com/en/charts/2533270/nzdjpy-h4-armada-markets
So let's see how the price evolves and if you have any questions feel free to leave a comment bellow.
