So it is hard for me to show you all the process here of why this zone is important to me. On the daily I can see that this pair is clearly bullish and SHOULD see us push towards the 0.67304 area which is well over 200+ pips away. On a Major pair like GU or EU you could see that move made in a day but with NZDCHF it is a slow moving pair so it could either become an investment trade where you sit on your hands for a few days and let it run OR you can look to take a position with a small stop loss with a high reward.
I PERSONALLY will be aiming to do the latter which is get In with a very tight stop loss and hold for around a 48 pip target. Doesn't sound like much but let me put it to you this way. Say you have a £20,000 account using 1% risk I'll be using 3.90 lot size with a risk of £200.00 if the trade goes against me. If it goes in my favour... should see around £1400 reward. Not bad right.
So what am I looking for? Again, it is hard to show you as I will be scaling into the hourly chart but when/if I start to see price reversal from this zone then I will be looking to enter the trade.
I PERSONALLY will be aiming to do the latter which is get In with a very tight stop loss and hold for around a 48 pip target. Doesn't sound like much but let me put it to you this way. Say you have a £20,000 account using 1% risk I'll be using 3.90 lot size with a risk of £200.00 if the trade goes against me. If it goes in my favour... should see around £1400 reward. Not bad right.
So what am I looking for? Again, it is hard to show you as I will be scaling into the hourly chart but when/if I start to see price reversal from this zone then I will be looking to enter the trade.