Short Trade

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Short Trade
Pair: NZDUSD

Tuesday, Jan 16, 24
9:00 am

Observation: Sellers in control on 1-hour time frame (TF), Phase E (Wyckoff method) indicating a downtrend trending outside the range.

Entry Price (BOS): 0.61573

Target: Base of range - 0.57912 (367.6 PIPS) = 5.97%

Stop Loss: 0.61813 (24 PIPS) = 0.39%

Risk-Reward Ratio (RR): 15.45

Comment:

Observation 8th Feb 24
Downsloping acculmulation (trending to the outside range)
In the Wyckoff Method, a downsloping distribution (trending to the outside range) typically corresponds to 'Phase D' or the 'Last Point of Supply (LPS)' within the comprehensive Wyckoff Distribution Schematic. Phase D represents the conclusive testing and absorption of demand by smart money before an anticipated downtrend or markdown initiates. The downsloping nature suggests a diminishing demand, paving the way for a potential downward movement."

Comment:

Mark up...?
Notice wide candles
High Volume
14.00pm
31st Jan 24

Followed by
Preliminary Stop

Comment:

Target adjusted 14th Feb 24

Target: Base of range
0.58652 (292.2PIPS) = 4.75%

Stop loss: 0.61813 (24PIPS) = 0.39%

Entry Price: BOS
0.61573

RR 12.28

Trade closed: stop reached:

20th Feb 2024 ...Consolidated for a month.