Indecision on NZDUSD (6hr) provides potential LONG
After a preceding bearish trend on the NZDUSD (6hr) indecision has formed on Support. This provides a potential reversal trade. I am looking at a 1:1.8 Long position with this trade.
----
DISCLAIMER
High investment risks.
Trading foreign exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.
Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.
The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. You should be aware of all risks associated with Forex trading, and look for advice of any independent financial adviser if you have any doubts.
Opinions.
Any opinion, news, research, analyses, or other information provided should be interpreted as general market commentary, not as an investment advice. I am NOT a financial adviser.
I will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information.
----
DISCLAIMER
High investment risks.
Trading foreign exchange (Forex) on margin carries a high level of risk and may not be suitable for all investors. The high level of leverage can work against you as well as for you.
Please consider whether trading Forex is appropriate for you in light of your experience, goals as an investor, financial resources and risk appetite.
The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. You should be aware of all risks associated with Forex trading, and look for advice of any independent financial adviser if you have any doubts.
Opinions.
Any opinion, news, research, analyses, or other information provided should be interpreted as general market commentary, not as an investment advice. I am NOT a financial adviser.
I will not accept liability for any loss or damage, including but not limited to any loss of profit that may arise directly or indirectly from the use or reliance on such information.
Trade active:
Trade was triggered and moved into the profit area. Holding on the weekend is a matter for each trader. I normally don't like to hold over a weekend. So in this instance I closed the trade around 1:1. It still will be interesting to watch next week and see if it pulls back before continuing LONG.
Trade closed manually:
Closing this one off even though I had already closed out and taken profit on Friday. I was leaving it open to see how it eventuates however High Impact US News is less than two hours away so I would normally close now (if I was still in this trade). It will still Close in a small profit