(2 pos in progress)week7 NZDJPY retracement on expansion day QUICKIE trade

This is one of my typical entry method, entry on retracement after
expansion past multi day high.
There is no setup ( 1234) per se.
But rather I see this daily close as a trigger of sorts.

1) It closed above 83.78 last week, beyond which will be bullish zone for me.


2) See that price has stall for 2 days with same high near fib6 downflow, Tuesday close & expanded above this fib6, signalling to me that price is prepared to negate this downflow and continue with the bullish momentum up.

3) hence any retracement is a short; I shall not wait for a proper 1234 setup.

week7 nzdjpy h1 quickie trade 120214

Hence criteria of QUICKIE:
eg. long trade

1) multi days flat high
2) price d1 close and expanded beyond multi days flat high
bonus:(this d1 close is a trigger on big picture. eg. 13TL close , wrmb close , engulfing etc.)
3) Entry on retracement @ either
b) fib6,
c)key levels ,
d)multi-day flat high

TP level : at dicretionary and logical levels
Hard Stop : below a key level. But if price can close below this multi day high, it also means
a bull trap is in play. Have to manual exit.

however, essence of quickie play is that since it is an expansion beyond multi day high,
it should be a true move.
This ‘true move’ can only be undone by a strong bearish engulfing , which then signify even a truer move to move down.


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