FX:NZDUSD New Zealand Dollar/U.S. Dollar
Looking for defense from underside of this wall. Stops can be 30-35 pips above the entry.
Trade closed: target reached: exiting with +15 pips.
Comment: Closed trade manually because my other system is giving buy signal & when I have two conflicting signals I prefer to stay out altogether. This can very well go as predicted before but now I dont enjoy the same confidence as before. If anyone is following this need to be aware that I m out of this trade.
Generally trading is risky but I do agree that there is little added risk in trading short this pair since it looks too bullish. But since the system tell to short, we should not try to make sense of system & just trust that it will workout. There are only four types of trades, 1] good trade 2] bad trade 3] winning trade 4] losing trade. Since we dont have control of winning & losing trade, all we can do is trade good trade & leave rest to market. Thank you for your comment, appreciate it.
Thanks for your reply. What I mean is Risk On (People move away from USD as a safe store of value and move into riskier trades), Risk Off being people move to USDX as a safe store of value. Right now we appear to be heading into a potential Risk On scenario bias for this week. Based on COT data, based on S&R of the dollar index etc.