Here is a good trade opportunity you cant miss today

Unless you’ve been hiding in a cave, you havent seen how the JPY crosses have been moving in the last few weeks.

Yesterday a fellow trader asked me what my thoughts were about those moves, and if I thought there was still a chance to go long, you know, the market might retrace, etc.

That reminded me something I read somewhere (cant remember where):

The market is never too high to stop looking for a buy, or too low to stop looking for a short.

Ever since I read it, it made total sense to me, and I adopted it almost as my motto…

So don’t be afraid to get caught in a retracement, because you are going to miss the whole move. I rather get caught in a retracement than watching those kinds of moves on the sidelines…

What are your thoughts about this?

Look, it all comes to this: finding the right opportunities to trade today, with the lowest amount of risk.

So you need to trade based on what you are seeing, not based on what you think the market will do.

Agree with me?

Anyway…

NZDUSD trade opportunity

A few days ago the NZDUSD broke through an important long term resistance level, here is the daily chart and how it broke through the resistance level:

NZDUSD weekly chart

Ok, so we know the NZDUSD is likely to continue its way up until it reaches the next resistance level…

Ok, thats it! You are good to go, lets go home… huh? What?

Ahhh you are right… No analysis is complete until we determine where to get out of the trade…

To do that, we need to take a look at the weekly chart, here is the chart:

NZDUSD daily chart

You see the upper orange level, that’s my next resistance level and where I think the market is likely to go.

So if you find an opportunity to go long, set your TP levels just below that resistance level.

Your turn

What do you think about the NZDUSD trade opportunity?

Do you ever stop buying or shorting because you might get caught in a retracement?

Leave your comments.

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Raul Lopez

I’ve been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .


  • Gluva Trader

    Hi Raul,
    Sorry my comment will be out of topic.
    What your opinion about GBPUSD now? You posted GBPUSD is bearish, but now GBPUSD broke the D1 support line (you draw it) upward.

    • Raul Lopez

      Hey Gluva, no worries about being out of topic! The thing is to be helpful :)

      Yep, you are right, I was bearish a while ago, but that changed a few days back. Right now it is trading at a critical level, take a look at your daily and weekly chart and you’ll see what level I’m talking about…

      So right now I’d wait and see what happens around this level, if it breaks this zone I’l consider long opportunities.

      But first, we need to have a clear “zone”…

      What are your thoughts about it?

      • Gluva Trader

        Yes Raul. Thanks for your response. Can you write your opinion by blog post? So we (all of your follower) get your detail explanation. Thank you Raul.

        • Raul Lopez

          What do you mean by blog post? Want me to write a post about it?

          • Gluva Trader

            Yes Raul, I mean please write a post about it. Thank you very much :)

          • Raul Lopez

            I will sure do. Early next day I’ll go the GBPUSD Analysis! Have a great weekend Gluva!

  • trader

    Hey Raul hope you’re doing well I’ll have to agree but the thing is market doesn’t go up or down in a straight line. it ebbs and flows.(Impulsive move followed my corrective) similarly I wouldn’t say it’s not wrong to go long but you just have to wait for the right moment from an order flow perspective .Right now if you look at the daily the big daddies or the institutional players are getting in at a worse price and bidding up the price higher and higher now three days in a row which infact resulted the laws of equilibrium to be broken and such price seems to be over valued on the h4 because with such a move a retracement or a corrective move is always followed through exhaustion or people taking profit so as retail traders we want to wait for that low risk high reward trade and get in at the right moment. people can get in now if they have a stomach to handle the corrective move. :)

    • Raul Lopez

      Hey Thanks, hope you are doing well too!

      Yeap, you are right… that is how the market moves (impulsive and corrective waves). And for sure, you need to pinpoint your trade and wait for the right moment to trade it, I agree with you there…

      But not trading because the market “might retrace” is not enough reason for me, to not trade something…

      So it’s not like I’m pushing myself to trade… I need to get my signal, do the right analysis, etc. But I dont care how much the market moved yesterday or the week before, I just trade it if I get the opportunity… You know what I mean?

      And yes, sometimes I’m going to get caught in these retracements, but some others I’m going to take advantage of those huge moves, and you know what it is like to get one of those moves in your pocket.

      I guess we all have different perspectives about the market, and in order to decide which is better for you, you need to ask yourself this question:

      Which is worse for you?

      a) Seeing huge moves and being on the sidelines
      b) Getting caught in some retracements

      For me, a) is worse than b).

      What do you think?

      • hnmm. it depend on your risk reward ratio. well, i trade break outs too. This way, i rapport my entries on the lower TF’s. All the same, you guys are doing great