NZDUSD has been on the downtrend since breaching the 20 period SMA on 20th July and the pair has been trending down steadily since then. We might just have an opportunity to enter into a short position on this pair if it breached the previous candle on the 4 hour chart. Let’s take a look at the H4 NZDUSD Chart.
This is another trade idea generated by the Elite Swing Trader.
For this trade idea, we will place a Sell Stop Order. We want to see the bear still in good charge before we get into position. So below are the orders for this trade idea.
- Sell Stop Order: 0.65862
- Stop Loss: 0.66213
- Take Profit: 0.65553
By entering a stop order, we want to only get into position when a certain crucial support or resistance is broken. While it does not guarantee a winning trade each and every time, it just gives us a slight edge when entering into new positions. PLUS more importantly, we don’t need to be watching the market all the time.
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With the Indicator, you can now have multiple charts open and wait for the Elite Swing Trader will highlight potential trades to your attention. Of course, without saying, you do not trade every signals. Instead, this is a massive time saver. You decide on the trades to take.
This is a time tested Ever Green Swing trading system. Learn more here…
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