EURNZD: Good buy on strength

FX:EURNZD   Euro / New Zealand Dollar
I'd reccomend against using stop losses here, you may go long on strength after the close. Risk is $3000 per standard lot if entering here. We can aim for a retest of the election highs at least.Risk 0.5-1% buying over a few days. Seeing a new low here isn't good but it might take a while to get going, so I'm open to that happening. The price action is a bit more erratic between December and February in FX, so I'll be trading smaller positions with wide stops or no stop, entering gradually as prices confirm the analysis, not all at once. I'd reccomend this to people to reduce risk. Add to the trades that start to work, else, you have small risk at first.

Good luck,

Ivan Labrie.
Comment: Looks good.
Comment: Today's bar is a good candidate for a bottom here.
Comment: You may reenter longs if stopped out.
Good advice around scaling in at this point. Some nice daily bullish divergence and some nice candles, botton of daily bearish channel/ nice daily spike of bollinger; but the bearish theme on high t/f says prudence
+1 Reply
@derby, indeed, but with risk off rally, I think EURUSD will outperform NZDUSD. Good luck!
I am waiting until after italy referendum to enter but I am very tempted to take a position here under 1.49 or around 1.49. I do agree with you this is a good trade. So is AUDNZD in my opinion.
IvanLabrie RobbyWestHouston
@RobbyWestHouston, yes, both are solid in my book. I'd rather avoid tight stops and short-termism in general. The enviroment proved to be a chop-machine, spitting out the bones of people with stops and leverage.
@IvanLabrie, Yes I completely agree! I use my own entry system to find tech bottoms to enter.
+1 Reply
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