Image: Oanda
TRADE
Date: 04-Sep-2014
Currency: NZDJPY
Entry: Buy Market 87.49
Reason for Trade/Setup:
A very typical bullish view from ichimoku chart indicators, with tenkan-sen above kijun-sen, and both above the ichimoku cloud. Chikou span had also crossed over the kumo cloud and the forward cloud remained bullish. A Buy Market with stop loss below the ichimoku cloud.
Initial Stop: 86.60
Stop loss shifted to 87.20
Initial Target: 90.25
INTERMEDIATE COMMENT
NA
RESULT
Outcome: The reversal was sharp. Price action turned lower, with tenkan sen cutting below kijun sen. The next period was a sharp down, going below the kumo cloud.
Exit: Stop out.
Profit/Loss: -29 pips
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