Trade Idea – NZD USD – 02-17-2016

Home » Trade Idea – NZD USD – 02-17-2016

This is a follow-up to the Trade Idea – NZD USD – 02-12-2016 recently posted. The previous trade consisted on a sell limit placed after the third touch on the downward trend (see post picture above). That particular trade I had no complaints about and the reason I traded the opposite way a few days later was because the price action was responding really well to the upward trend line, which also had 3 touches.

Trade Idea - NZD USD - 02-17-2016 - 4H

NZDUSD 4H Chart: Arrow = Buy Trade, Check = Take Profit, X = Stop Loss. This trade resulted from a trade alert from the forex forum and a Call Levels price alert.

 

This was actually a Trade Alert (Trade Alert – NZD USD – 12/10/2016) posted by our member Steven.  Thank you!

NZD/USD – Back for Seconds

This particular trade was half the size of my normal trade and the reason for that was because I was trading against the long term trend and wanted to manage risk. This trade closed for a 67 pip profit. Moreover, considering the strong/long term downward trend and the upward trend coming off a higher low, I think we will be seeing a consolidation.

Share your thoughts.

By | 2018-02-08T05:37:38+00:00 February 19th, 2016|Trade Ideas|1 Comment

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One Comment

  1. Steven February 19, 2016 at 10:47 pm

    I can’t believe you got away with trading the downtrend and uptrend. Looking forward to the next update.

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