Trade of the Week: NZD/USD H1: 28-29 May: +3% Profit (+123 pips)
For more details and examples of trade, click "Examples of Trade" in the menu
A classical setup. On the 28th, on H4 the trend is down with alligator lines still open. We look for a setup on H1. We have a perfect one with a nice sleeping alligator, the stop loss is 42 pips. We take the break, the price falls after the news and then broke some levels D1 and W1; The H4 ewave is peaking so we let the trade run and dont exit at the first signal (break of upper level of the box), next day, the price drops again and we exit few hours before the end of the week for +123 pips (+3%).
For more details and examples of trade, click "Examples of Trade" in the menu
A classical setup. On the 28th, on H4 the trend is down with alligator lines still open. We look for a setup on H1. We have a perfect one with a nice sleeping alligator, the stop loss is 42 pips. We take the break, the price falls after the news and then broke some levels D1 and W1; The H4 ewave is peaking so we let the trade run and dont exit at the first signal (break of upper level of the box), next day, the price drops again and we exit few hours before the end of the week for +123 pips (+3%).
NZD/USD is very tough pair to work on, if we get it right then obviously great, but if we get this wrong then it could create massive problems. I work in swap free account, so that helps me out with long term trading without too much worry of overnight charges while this is provided by OctaFX broker, it helps further with this blog with such amazing daily market updates, it’s simply awesome and really gives us bundle of benefits to work with.
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