NZDUSD is nice pair - a lot of harmonic advanced patterns. There was recently Butterfly, Gartley and now Cypher. All complete successfully so I thought why not. But this pair loves making me fool. When I traded Butterlfy - there was very fast spike down, so I escaped with some profit thinking Butterfly won't work this time. It was lessson for me and with Cypher when there was pullback - I did not escape, just moved my stop loss to breakeven. And again - moving stop loss to breakeven wasn't good idea - because priced did return, kissed my BE a did what was expected.... Looks like I will be learning forex all my life :)
And by the way - now - as price reacted for 50% - maybe another pattern, bat?
What can I say - I just could repeat Akil Stokes sentence - Plan your trade -- trade your plan.
Happy trading, Traders! Leszek
Just flies in my mind - maybe someones is trading FX:NZDUSD as its main (or major) trading pair and could share with observations/conclusions? I will be doing some more backtesting with ForexTester2 but .... why discover America whilst we could share?
Comments
leszekstanislaw
⋅
I traded this bat - was so obvious. Loss.
diamondekk
⋅
Hi Leszku, I'm not sure if that would be usefull for you, but look here: It was really a trap on this last bottom, unfortunatly it's happend....:((