JPY was showing a lot of weakness, and NZD was in the middle of it’s range and heading upward. It appeared as though both had a good amount of room to run before their next respective support/resistance zones. When I looked at this chart, it was in a decent high base on the hourly chart, but the 15 min. chart was showing a pretty high base. I liked what I saw, so I set entry orders.
Entry – 66.13
Price slowly but surely pushed up, eventually doing so enough to trigger me into the trade.
| Entry Order Level |
|---|
| 66.13 |
| Stop Loss Level |
| 65.855 |
| Target Level |
| 67.00 |
Exit – 65.845
This triggered, and the news even happened not too long after. Price dropped pretty quickly and stopped me out for a loss.
