FX:NZDUSD   New Zealand Dollar/U.S. Dollar
5 months ago
Break and restest of the 50 EMA

Bounce off the pivot point

Bullish Engulfing

Upcoming news in NZ             of consumer confidence could be a good boost or if negative could move the trade against us.

risk/ reward 1:2

Stop below 50EMA and Pivot point. TP just before R1 but will need to trade through some previous resistance level at .70800

risk .5%

Let me know your thoughts?
5 months ago
Trade closed: target reached: TP Hit - held for a day and a bit.

Came very close to hitting the SL before moving in our direction.

I was thinking of giving it a little more room but made it a tight SL. Lucky this moved in our direction - but the lesson learned is not to be greedy with the risk reward squeezing out the a couple of extra pips. Reduce stress - give your trade room to breath.
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