Short Trading NZD/JPY
Leonardo Barata | Nov 27, 2015 08:09AM ET
NZD/JPY H1 – Trade Analysis
At the time of entry, background was weak. Therefore it was ok to look for short trades at that moment. The entry was made after dynamic trend turned from green to red. But before the trend changed to red there were no weak signals. Entry bar is a wide spread down bar – the price moved too far. It is better to go short in an up-bar with low volume, because it shows that professionals have no interest in higher prices.
The main mistake here is that the trade was not closed after buying has entered the market. You should exit immediately after 2 Minor Demand or Demand, Major Demand signals. In addition as you can see the Reversal also confirms exit in this point.
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