FX:NZDCAD   New Zealand Dollar/Canadian Dollar
111 4 3
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Trade active
Comment: entry at 0.94585
Comment: target 1 reached
Comment: Moved stoploss to break even, got stopped (+10pips) i didn't expect that the price would retrace back so far.... Got back in the trade @ 0.94500
Trade closed: stop reached
snapshot


If the recent demand area breaks, target 2 is open. Short pullbacks.
Reply
mnwind bas70seven
Nice job Bas70seven! You used supply and demand zones really well for your trading. The best part of your trading is that your "stop" is very logical, which saved this trade. I shorted NZD/USD, and was shaken out by the false break up. Are you also trading SP500, Gold or Oil?
Reply
Thanks for the positive feedback! I appreciate that!

I put my stop always just above the recent high and my take target 1 at least at the most recent low. Since that last 4HR move down broke the demand area, I think the price will move lower to target 2. From there on we will see what happens.

I like to trade WTI but... with these OPEC uncertainties I won't do it for now. Gold sometimes, never did the SP500 but I think I should do that.

In my opinion it's impossible to predict any high impact news events. I got surprised by the RBNZ when they did their rate cut. You would assume that a rate cut weakens the currency... well, the price spiked up 140 pips I believe... Stopped me out... Sometimes you step into traps you promised not to fall for. But sometimes you forget about these traps and you get smacked back right back to reality, right?

Anyhow, thanks again for the feedback, don't give up and happy trading!
Reply
Thank you for sharing =) Very good!
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