Closed TradesCurrenciesCurrencies PremiumForming Harmonic PatternsFX MINORS Trade Ideas PremiumHarmonic Patterns PremiumPremiumTalking ChartsTrade Setups

NZDJPY Bearish White Swan And Short Opportunity Update TP2 Reached 70 Pips

NZDJPY Bearish White Swan And Short Opportunity 03-12-2018

CHART TIMEFRAME: H4

INDICATORS: EMA50 & EMA100

CHART PATTERNS: Bearish White Swan Harmonic Pattern

EXPLANATION: Price is above EMA50 and EMA 100. The trend is Bullish. We look for a potential retracement opportunity of 30 – 50 pips. According to Fibonacci ratios, Bearish Harmonic White Swan pattern would be completed at 78.32.  According to MM Calculation entry level is 78.52.

TRADE: SHORT

AREA OF ENTRY: 78.32 – 78.52

TARGET 1: 78.00 ( EST. EMA 100 SUPPORT )

TARGET 2: 77.80 ( EST. EMA  50 SUPPORT )

STOP LOSS: 78. 75

WAIT FOR THE PRICE REACHES THE AREA OF ENTRY AND MAKES H4 CANDLESTICK CLOSING. 

UPDATE: TRADE REACHED THE FIRST TARGET 40 PIPS. YOU CAN CLOSE THE 50% OF THE PROFIT AND MOVE STOP LOSS TO BREAK EVEN.

UPDATE 2: TRADE REACHED THE SECOND TARGET AND CLOSED WITH 50 PIPS

 

 

NZDJPY Bearish White Swan Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

Tags
Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close