NZDUSD - Breakout in sight

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
1175 24 31
if we break the current consolidation we can expect the market to go up for the next month or even longer.
i will also look to trade lower timeframes but i also will have this long term position
Trade active
Comment: gettin close to my stops. the rest of the way to my stops i will be looking for a hedge, if we go lower from here.
since we broke the orange triangle and are now consolidating below it, i will be looking to sell if we break consolidation to the downside. that way i will hopefully profit from the fact that im gettin stopped out on the big position and can hopefully make up my loss.
Trade active: short hedge active.
this will be my rouhg target setup for the moment anyway.
Marketmaker-Fallsbreakout ;)
robtrading robtrading
hrhr. im not too worried - the stop is still a long way to go. afterall nearly no trades are hittin targets without at least going into the red for a little bit. plus this entry is based to ensure catching the move, not to have the best possible entry (which always includes waiting for a retracment)
GDT auction coming Tuesday. Dairy futures pointing up. Should push the NZD higher.
good to hear
what is a good time to enter? it already retraced
well if you play this out longerterm like indidcated on the chart then u can just enter now if you want to(after all currently still a better price than the origianl breakout).
you can ofc stay patient and wait for a bigger retracment and or flag/consolidation. after all we are very overextended on a lower timeframe, so chances are good that his will happen. i had limits overnight, so just got filled without having to think about it too much ;)
good luck.
hamadoto SergeantPringles
thanks for clarifying but i use high leverage , its critical for me, even though i plan on staying long term
well dont wanna be mr killjoy but if your playin with high risk then you should know when to enter yourself, shouldnt you ;)
but i personally would wait for a bit of consolidation then and maybe enter after a flag or something.

Good clean chart, looks like the break-outs been confirmed, should be off to the races now... well here's hoping. All the very best
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