Hi, dear traders! Here is my view on the movement of the AUD/NZD pair.
So, in my yesterday's review I was talking about the sell-off of the AUD/NZD pair /en/analysis/24890..., the pair broke through its high in February, gaining more than 5,500P over the past month. Now the trajectory of the pair is signaling the beginning of the sell-off cycle as it broke out the Extremum indicator after a strong rebound.
If you followed my trading recommendation and opened short deals on the pair, here is a piece of advice on what to do next:
Open Order- put Take Profit on 1000p
Above Open Order- set the Sell Limit Order after each 1000p with the same volume.
There are three possible scenarios:
The price immediately drops by 1000p, and you just fix the profit.
The price rises by 1000p or higher and you log profit thanks to the sell-limit order. You need to reset the sell-off grid in plus.
The price edges even higher. Reset the grid to zero. Find the average price of the grid (using the Profit line indicator) and reduce the take profit and stop orders there. So, when this level is reached, all orders should be closed to a total zero.
In this strategy, the main thing is not to rush or be greedy, and correctly calculate the volume. You can do it with the help of the trader's calculator. It is not recommended to increase the volume. It is also better to trade on swap-free accounts and InstaForex, unlike other brokers, provides this opportunity without problems and preconditions.
Good luck! Control your risks!
