Friday, March 5, 2010

GBP/NZD - Second trade of the March 2010

I entered long GBP/NZD after it hit all time low 2 days earlier. Other signal that persuaded me to enter the trade was rather mixed.
D1: Down, RSI oversold.
H4: Down, MACD & ADX crossed up.
H1: Up

Longed at 2.1588 with profit target of 2.3388 and stop loss of 2.1265 just below the all time low. However I closed the trade with 158 pips gain after the experience with EUR/USD where it reversed.

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