Return of the Kiwi? Long

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Jul 19, 2017 7:11 AM

This is a very optimistic view of the NZD. This assumes the US Dollar continues its run down.

I think the TP1 is much more probable in the coming weeks and at a little over +100 pips I am ok with that.

Trade active

⋅ Jul 19, 2017 7:13 AM

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LONG @ 0.7365
SL @ 0.7275
TP1 @ 0.7480
TP2 @ 0.8090 (HOPE-ium Levels are High)

Trade active

⋅ Jul 28, 2017 2:19 AM

TP1 was reached for +115 pips.

I closed out 75% of my position and will let the rest ride on to TP2.

Comments

OutsideTheBoxHK

⋅ Jul 19, 2017 7:28 AM

risking 100 to make 100

Bonavest

⋅ Jul 19, 2017 7:35 AM

@OutsideTheBoxHK, Actually it is risking 100 to make 725... but I don't work with Risk/Reward ratios. I look at probabilities in this case, it could be viewed that I am saying the price will rise 100 pips before it drops 100 pips.

Bonavest

⋅ Jul 28, 2017 9:21 PM

@OutsideTheBoxHK, Looks like risking 100 to make 100 isn't so bad when your trade has a high probability. In addition to that the plan was to allow a small portion to continue to take the long ride to TP2 @ +725 pips.

OutsideTheBoxHK

⋅ Jul 28, 2017 11:27 PM

@Bonavest, nice one