NZDUSD - Finally A Breakout?!

2023年10月2日

Analysis:
Bullish Confluences

• Recent upwards trend
  
• Longer term downwards trend broken
  
• Retesting an area of significance
  
• Fib retracement "golden zone"
  
• Bullish breakout of symmetrical triangle
  
• Upwards trendline present
  
• Previous downwards trendline retest
  
• 3K long position increase for the NZD
  
• 3K short position decrease for the NZD
  
• 1K short position increase for the USD
  

Bearish Confluences

• The NZD is the 4th weakest major currency whereas the USD is the strongest major currency
  
• 2K long position increase for the USD
  

Stay Safe - The JPI Team
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Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.

2023年10月2日

交易开始

Our entry criteria has been met and our order has been filled. We are long looking for this breakout to continue and make a move to the upside!

2023年10月3日

交易结束：到达止损

s3.tradingview.com/snapshots/t/tWkoNPf2.png
Trade Closed
(-1R) Made
After Trade Comments:
Unfortunately this trade closed in a loss this morning as the USD strength didn't give in and pushed price down further. Although this trade was a loss it was still exactly to plan but price just didn't move how we expected it to which is completely normal. We know that by sticking to our plan that in the long run our edge will playout and we will be profitable so we don't care if we lose one trade in the short term because in the long term our wins will far outweigh our losses and the longer term picture matters far more then the shorter term picture. This is why you need to know your strategy and know it's limits so when you have losing trades you know if it's normal or not, this is why backtesting is so important. If you haven't backtested your strategy then you won't make it in the long run as a trader and that's the harsh truth. Without backtesting you don't know if your strategy is profitable or not. You also don't know your strategies limits which will cause a lot of stress to you in the long run. If you've backtested your strategy and you know it's completely normal for you to take 5 losses in a row before you have 5 wins then would you worry on loss number 3? No because you know that's completely normal. The key to trusting your strategy and sticking to your plan is backtesting. Do this and you'll be far less emotional when trading which will allow you to execute your plan better and also just give you a happier life. Take it from us backtesting is one of the most important things that every trader needs to do if they want to be successful in the markets long term. With that being said, onto the next!

Stay Safe - The JPI Team