Description
⋅ Trading tight markets can be profitable. For the NZD/USD, a key level is coming into view:
Big-Round-Number, 0.64000
Until 10 minutes before today’s Fed Statement (1:50 PM EST) here's the trade:
1) Buy 0.6406
2) Initial stop loss at 0.6394
3) Profit target at 0.6418, 12 pips on a tight 1:1 risk vs reward ratio.
If this trade hasn’t gone live before 2:00 PM EST, pull those orders and get ready for some FOMC volatility!