T2W Trading Community

Regardless of the trade, I always respect the time frame that the trade was executed on. In this case, the execution was based on analysis of the 240-minute chart, as a result, exit points also need to be calculated from the same time frame.

Given that our first target was 1.1740 we still want to give the chance for the trade to play out, however, given that the trade is in roughly 100 pips in the money and the stochastic suggest that the selling pressure is waning, it is prudent to take some of the trade off and adjust stop-loss to either break-even or some price that suits the traders risk tolerance, a trailing stop is ideal.

NZD/SEK Short
The chart below provides a perfect example of two time frames coming together that isolate a fantastic short opportunity. In this case, the daily chart is already confirmed as bearish, now, it is just a matter of isolating the entry point as a way to avoid the trade going against you while waiting for the downward trend to resume. Until the 60-minute charts stochastic roll back over prices are likely to drift higher. The better entry is to wait for pullback into fibonacci resistance at 5.2450-5.2500 and waiting for bearish momentum to resume by way of a stochastic cross.

AUD/JPY Long