See the daily chart of NZDUSD below for the discussion that follows.
NZDUSD broke out of a small consolidation. Should price retrace to support (previous resistance), I will likely go long if I see bullish candlestick price action. I would like to see price moving a little higher first though (see chart).
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading / financial advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
