Fx Open Positions: NZD/JPY, EUR/CAD, GUPUSD

anticipation is the name of the game- be water my friend.

Hi friends.

Today I’m reviewing my forex trade.

1. NZD/JPY (free)

2. EUR/CAD (paid subscribers)

3. GUP/USD (paid subscribers)

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1: NZD/JPY daily chart

C1: Bearish Engulfing pattern.

C2: Dark Cloud Cover.

C3: Shooting star.

Therefore I made it a case that I’m gonna short below C3 (red dot) based on the strong resistance line (blue line).

Right now, I’m up 160 pips. it’s time to move my Stop loss to break even and let the trade runs.

what’s next? there are two scenarios.

1. Price to breakout from the rectangle (yellow dot). if so, my first measured moved target is at T1 and my 2nd target T2 will be at the low real body of candle 4 which is a piercing pattern.

2. Price could forms a triangle and move all the way back up breaking the rectangle, and moving to a measured moved level at T3. refer chart below.

2: NZD/JPY daily chart

I Got a late entry for this pair, otherwise, it will yield a very nice profit.

I shorted at the red dot. but the Breakout from the rectangle brings the price to reach the measure moved target at T1. Look at how precise is the target. Candles 1 and 2 both respected the T1 level.