NZDJPY SHORT

Aug 14, 2022

NZDJPY SHORT

Why are we entering?
- Expecting JPY strength and NZD weakness
- Price is approaching our trendline, structure level
- We are currently forming our 335 correction

What are we waiting for to happen?
- Rejection of trendline & structure level
- Break of WFB trendline

Entry
SAFE Entry: Rejection of trendline, structure and a break of WFB trendline
Risk Entry 1: Rejection of trendline & structure
Risk Entry 2: Early break of WFB trendline

Once entered, where will our Stoploss be?
- Above the previous high (above 86.85) 30 pips
- Move SL to BE after running 30 pips

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - Previous low: 82.1 (420pips)
- Final TP - Long term target / Structure level : 79.5 (680pips)