NZDUSD is on the bottom of the channel - LONG
From some time NZDUSD is at the bottom of the channel.
The golden rule of trading (doesn't matter if it's currencies, stocks, cars, video games) is to buy when it's cheap and sell when it's expensive.
When you are buying TV - you know which one is cheap, and if you are doing little research you can say that some time ago the price was higher/lower and on that basis you can decide if it's worth to buy it now or wait.
The same situation is on forex. The price of NZDUSD seems to be low right now, so for me it's time to buy and make 5-10% here ;)
And that's why I'm planning to open L at the beginning of next week. I will put my stop-loss on 0.665.
The golden rule of trading (doesn't matter if it's currencies, stocks, cars, video games) is to buy when it's cheap and sell when it's expensive.
When you are buying TV - you know which one is cheap, and if you are doing little research you can say that some time ago the price was higher/lower and on that basis you can decide if it's worth to buy it now or wait.
The same situation is on forex. The price of NZDUSD seems to be low right now, so for me it's time to buy and make 5-10% here ;)
And that's why I'm planning to open L at the beginning of next week. I will put my stop-loss on 0.665.