NZDJPY STOCH Cross and 62 EMA cross – This is a quick little trade that I saw. Two of my favorite setups, one is a Stochastic crossover indicating the pair is going to fall, and a cross back down through the 62 EMA which resumes a previous downward trend. I am so hyperfocused on the GBPJPY and EURUSD for the past few days, I am glad to find this little trade. Only going for about 35 PIPS as this is normally a slower moving pair. Risk is very low even if the trade does not work out.
Update – this trade worked out textbook. I closed it at the previous low on the oversold bar below. I scaled in two possitions as this was a nice slow moving trade. I got the bonus of the trade closing during rollover at 12:00 a.m. and a fast oversold spike. I had a stop market on and picked up an additional 18 pips!
Here is the close – I got out at the large overbought just before breaking the Mesa line