SELL NZDUSD - Nested Weekly/ Daily Supply

This set-up closely resembles the one on the Aussie Dollar.
Price action of AUDUSD and NZDUSD resemble each other, so it was a mistake having both trades going. Trade is already active, so I am journaling it.

My preference would be to have one or the other. So...its either going to be a plus trade x 2 or a minus trade x 2. Will leave them both on for now.

Trade ativo

Trade fechado manualmente:

In my analysis, I note that daily demand had formed and would be problematic. I was right about that....but never took the profits as I said I would.

Once the AUDUSD trade was stopped out, i manually closed this one for a very small loss to avoid further losses. Will review outcome later.

Comentário:

as of close of day Friday 1/20/16, I could have let this run and it became positive again. In either case, all trades must be closed out Friday afternoon.

That Daily demand that formed respected...twice. That was the point to take profits.

I need to remain objective as I manage trades and fluid enough to close them should new conditions arise.