And I’m out! The pair didn’t make it all the way to the triangle top I was aiming for, but I did manage to lock in some gains.
Long GBP/NZD Trade
I jumped in this long position on a bit of bullish momentum as GBP/NZD made a quick bounce off the triangle bottom. Price hesitated halfway through on its climb, though, so I thought it best to roll up my stop in order to protect my profits.
As it turned out, resurfacing Brexit jitters and a bit of trade optimism on upcoming trade talks between the U.S. and China dragged this pair back down and hit my adjusted stop in the process.
Do I wish I rolled my SL a bit higher to catch more wins? Why, yes of course. I probably should’ve tried to exit manually when I first heard news of those trade talks. Then again, I’m pretty happy with my decision as I still caught a few pips. A win is a win, right?
Here’s what I got:
P/L: +20 pips / +0.03%
I’m still bullish on this pair, mainly due to differences in policy biases between the BOE and RBNZ, but I think I’ll let the U.K. event risks play out first. Never know if a “no deal” scenario could drag the pound down again!
How’s your trading going this week?
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