Trade Review: NZD/USD

June 6, 2006 11:10 PM UTC in Trade Ideas

Partner Center Find a Broker

As suspected, we saw dollar buying at the beginning of the euro session open. Shortly after the open there was a strong reversal, but not enough to hit our stop loss level. Dollar buying resumed and we saw pt1 hit, and then we closed our position at 5 pm EST. Hopefully, everyone caught some pips!

Lot1: +15 pips

Lot2: +16 pips

Total: +31 pips

This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.

About Pipcrawler

Every day, I try to find what I believe is the best looking short term currency trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology behind price movements in the foreign exchange markets, so you can learn to analyze your own currency charts and trade on your very own. To help you understand my trading approach, please read about my trading framework.