[TW] 13-2-2012 long NZDUSD by monstapips

Trading Discussion
1

NZDUSD 4-hour

nzdusd23.jpg700×259 31.5 KB

Long or Short: LONG

Entry Point: .8285

Stop Loss: .8210

Profit Target/s: .8500

Reward-to-risk Ratio: 215: 75 - just below 2.8:1

Risk percentage: 2%

Indicators: Stochastic 9

Trade Rationale: Riding the uptrend! Support at bottom of channel around .8280, and Stochastic is below 20 (oversold).

Trade Adjustments: May add to my trade if it breaks above .8400, when i’m up just over 100 pips.

2

I like this trade because the dip happened after a huge RISK OFF day. If the greek deal goes through…a RISK ON day might reverse this dip in a big way…

I dont love this, but i do like it :slight_smile:

3

Short. ATR strength diminishing. D1 view short.