NZD/USD Swing Trade 6 Pip Stop Loss & 250 Pip Take Profit

3 June 2017, 12:07
Ahmad Hassam

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.

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