Forex portfolio:NZDCAD-Low risk buy opportunity against support

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
We can enter longs in this pair here. Risk is a drop to 0.94199, but the target is 0.99359 at least.

Good luck!

Ivan Labrie.
Comment: Move stop to 0.9537. You can add on dips with this new stop, since the first position is risk free now.
Comment: No chance to buy dips, but holding.
Comment: closed half here.
Trade closed manually: Trailed out of the trade at 0.9629
And dont forget the divergences in RSI MACD and stock , all this will make the people around the world take it short
And if you look at NZDUSD there is H&S for USD that means there is very big chance to make the NZD go down or what ?
MoeHelou MoeHelou
And the nick line has been hit
Yes, people see an H&S, but I think there is support in NZDUSD, wait 3 days, if selling slows down in it, NZDUSD will go up again, and so will NZDCAD.
(also watch oil this week, give it 3 days as well, don't risk 100% your account and jump to conclusions before this time passes. Also consider the news on the 27th).
Good luck!
MoeHelou IvanLabrie
Ok and what about the NZDCAD ?
I'm holding longs for now, I see it as a good strategy based on the difference in performance between NZD and CAD.
You don't need to agree, but just my view.
MoeHelou IvanLabrie
that means it will not respect the monthly resistance at all ?
NZDCAD it could rally above it, or stay ranging up here, but I don't think it'll fall anytime soon. If my stop is hit, the trend will change down.
MoeHelou IvanLabrie
Let see what will happen , i took short and my stop above 0.98100 and i will not go out from this trade i see very good chance with this trade and i trust the historian of the market .
Yes that's the idea. You have to follow your own ideas, but it's good to see what others are doing too.
Now, I wouldn't reccomend risking more than 2-5% per trade in general. If you're very experienced, perhaps you could get away with that, but even then, it's riskier than going with 1-2% risk max per trade. This forces you to have a bigger capital to achieve a decent profit per month.
(see Technician's post for more info on this)
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