informedtrades
Long

Going Long NZD -- Again

FX:EURNZD   Euro Fx/New Zealand Dollar
74 4 3
NZD hasn't been kind to me over the past week; including the rate hike that sent NZD down, I've had three consecutive losses on the NZD that have taken off about 0.75% of my account balance. But I don't want to make the mistake of being caught up emotionally and irrationally by losses, so I'm going long NZD again. Technically, the trend is still bullish for NZD, and we've pulled back at least 50% from major swing points in the trend and are seeing candlesticks that show signs of reversal on the daily chart . I'm risking 100 pips to gain 360, so my reward/risk ratio on this trade is 3.6.

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TheBestMA
2 years ago
Are you long or short? I didnt understand.

It is at the resistance level, Fibo %50, trendline edge, indecision bar, ichimoku resistance, downtrend in higher timeframes such as daily, etc.. And you are long??
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informedtrades TheBestMA
2 years ago
I am short EURNZD, which means I am long NZD. So I am short the pair and the chart, in anticipation of riding the downtrend.
+1 Reply
SerchFX
2 years ago
Hi mate, so you long NZDCHF or EURNZD ?
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SerchFX SerchFX
2 years ago
sorry, youve just said in the comment before !! Understood !! THanks ;) !
+1 Reply
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