Symbol: NZD/USD - Short
Strategy: ABO
Date Opened: 16/02/18
Date Closed: 21/02/18
Result: +1%
Daily / 4 Hour / 1 Hour:
-Daily double top at resistance of previous high
-4H overextended and formed a triple top
-1H broke a short term ascending wedge with an impulsive move down
This trade moved in the desired direction straight from my entry point but the nature was very impulsive. It reached +1R so I moved stop to BE and then it trickled down to the ascending trendline in which it bounced from due to FOMC news and then broke the descending structure. Prior to FOMC I had moved stop to +1R as this was above the current price action and would require price to break to upside in which it did. After the screenshots above, price did actually violently break back to the downside but thats the nature of the market and i’m happy with the close.