Going Long NZD -- Again
NZD hasn't been kind to me over the past week; including the rate hike that sent NZD down, I've had three consecutive losses on the NZD that have taken off about 0.75% of my account balance. But I don't want to make the mistake of being caught up emotionally and irrationally by losses, so I'm going long NZD again. Technically, the trend is still bullish for NZD, and we've pulled back at least 50% from major swing points in the trend and are seeing candlesticks that show signs of reversal on the daily chart. I'm risking 100 pips to gain 360, so my reward/risk ratio on this trade is 3.6.
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