0
170
NZD/USD is a great currency pair that I love to trade often.
NZD/USD is tightly managed by Reserve Bank of New Zealand.
What this means is that it gives few surprises unlike other pairs like GBP/USD, USD/CAD.
Most of the time we can find very low risk trades on NZD/USD.
I always use pending limit orders in opening a trade.
In this recent NZD/USD buy trade I was able to open the trade with a small stop loss of 6 pips.
Read this blog post in which I analyze this recent NZD/USD swing trade with a small 6 pip stop loss.
I use candlestick patterns in projecting the profit targets.
The most important thing is risk management. Keep the risk as low as possible.
This is what I do. Try to catch 100-300 pip market move with a small 10-15 pip stop loss.
