NZDJPY - Quick Fade

Hi guys, This is one of those quick scalp trades that I hate posting, but I thought it might be helpful for some of the new traders. The NZDJPY is over extended at the moment and will pull back (probably a clean Fib level). As I am posting this trade, the NZDJPY has already dropped 8 pips, so you probably won't catch this one, sorry.

My trade levels are on the chart. Feel free to ask questions.

Kommentar:

I usually push my stop to BE pretty quick on fades. I use the 15 minute ATR and set my trailing stop to match. Usually 12-20 pips depending on the pair.