Pair trade: Short NZDUSD, Long GBPUSD
I'll open a pair trade to minimize risk in my GBPUSD long setup.
There's a weekly sell opportunity in the NZDUSD chart, which will give me a relatively low risk entry as per my analysis that gold isn't done falling, and that NZDUSD (and GBPNZD will resume the trend they are in).
Position size is based on the ADR figures for both pairs, risking 2% and aiming for the targets on chart. There will be no stop loss, so, if you find this idea attractive, take the trade at your own risk.
Thus, I'll open two positions, adjusting the NZDUSD one by 1,25x to match the GBPUSD volatility.
The setup on chart shows a conservative SL in case you'd rather trade it individually.
Good luck,
Ivan.
There's a weekly sell opportunity in the NZDUSD chart, which will give me a relatively low risk entry as per my analysis that gold isn't done falling, and that NZDUSD (and GBPNZD will resume the trend they are in).
Position size is based on the ADR figures for both pairs, risking 2% and aiming for the targets on chart. There will be no stop loss, so, if you find this idea attractive, take the trade at your own risk.
- GBPUSD's ADR: 112.7 pips
- NZDUSD's ADR: 89.7 pips
Thus, I'll open two positions, adjusting the NZDUSD one by 1,25x to match the GBPUSD volatility.
The setup on chart shows a conservative SL in case you'd rather trade it individually.
Good luck,
Ivan.
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