We can see NZDJPY forming a bearish wedge, with a resistance at this moment there is a good chance we will drop out this wedge. I try to keep an eye on it and will short if the wedge support breaks. Will update it later, Give me some feedback and thanks for reading!
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I’m going in for a aggressive entry, will post entry SL and TP when at home
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This was my entry point (75.55) R:R 1/2.72, so worth the risk. If it drops and looks good, I'll consider just closing a part at the TP.
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First I was thinking it was a false breakout of the resistance, now checking again and came to the conclusion there could be a second bearish wedge better shown on the lower timeframe as below. Still in a negative position but no stoploss. The good thing is that this wedge is closing in faster and would have the same outcome as the big one this analysis started with: Down! I'm not planning on closing this one manually, let the analysis do his work and ride with it. Will be updating this as this is a great learning for now and later.
トレード終了: ストップロスに到達
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This was a ride full learnings for me: It is a good sign for me that the wedge was solid, the profit was even greater than I would have expected from this pattern. What went wrong, clearly the stop. If i didn't put that tight stop this was a good profit instead of a loss. This are things you always see afterwards, but we're remembering this for the next one. Notice: The drop could also have happened not because of this wedge but because of the upcoming news of the quaterly employment change report released in New Zealand at 21:45 GMT