Mean Reversion in NZD/JPY

I have been waiting a while for this.  I was probably stopped out twice

So the entry was based on the premise that we are in a series of lower highs and lower lows.  I was able to capture a short entry based on some level of "sell the rip" into 80.172.

The other Yen based names are getting stronger on the Yen side slightly USD/JPY etc

It is only a matter of time until the 50 period simple moving average catches up to the shaded rectangle at 78.5 and price reaches my target so I can cover this short position.

I will update posts based on other factors like adding size and if I need to reset targets. 

The First Segment

Chart of SPY from 2003

The first vertical line cutting through the longer bodied red candlest cik from mid-January marks where technically the rally weakened and began a  sell off

But from the pool of data we have, on 3/3 was the first date when the signal "Market in Correction" was published.  It then proceeded to slide harshly until its bottoming candle formation and the follow through that happened on 3/16 and 3/17 [3/17 was when it was officially declared over]

The focus of these posts is to correctly identify turns in trend and how to make money on them.