EURNZD Short Trade 500 Pip Profit With 5 Pip Stop Loss

21 June 2017, 08:05
Ahmad Hassam

EURNZD is a good pair for trend trading.

This is how the trend can develop on EURNZD.

EUR/USD is falling and NZD/USD is rising.

So EUR/NZD will fall strongly

But we don't need to look at EUR/USD and NZD/USD charts.

We just need to look at EUR/NZD weekly chart and we will find where this pair is going.

Read this blog post in which I explain a recent EUR/NZD short trade.

First I look at weekly and daily chart of EUR/NZD.

For the last 8 days EUR/NZD has been falling.

So I know the downtrend is strong.

I shift to H4 chart and look for a low risk entry.

I always use pending orders when I open a new trade.

This gives me an entry with a low risk.

Sometimes the pending order doesn't get filled.

Don't worry. There is always another opportunity soon.

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