2nd attempt to short GBPNZD .. the week of 09 Sep 2024

7 сент.

My 1st attempt had failed, perhaps partly due to incorrect identification of support/resistance.
Entry - approx. 2.1200 (deliberately late to be under the 20sma on H4 time frame)
Stop - above the recent high at 2.1330
1st target - 2.0900
Possible potential to take this down to 2.0600 region
(The outcome of this trade really depends heavily on the 2.1250 area holding as resistance).

This is not a trade recommendation. You should be aware that trading carries a high level of risk, so only trade with money you can afford to lose. Please use sound money and risk management, trading without a stop or moving the stop away from price is a recipe for disaster.
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It’s not whether you are right or wrong, but how much money you make when you are right and how much you lose when you are wrong – George Soros

8 сент.

Заметка

Just to emphasize what I already said - I am looking to enter when/if a H4 candle closes below the 20 sma.

9 сент.

Заявка отменена

The resistance at 2.125 area did not hold, thus this trade idea is cancelled.

10 сент.

Сделка активна

PA was favourable again, so I have taken a position short.