See daily chart of NZDUSD below for the discussion that follows.
NZDUSD has been trending down for a couple of months. It recently put in a higher high and higher low, indicating the trend might be changing. I will be looking to go long should price retrace to support (prior resistance) and I see bullish candlestick price action.
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 advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
