EURNZD: Take your pick, straight eurnzd long or pair trade
Updated
Analysis on chart.
Procedure for the spread trade is measuring ADR for each instrument, picking position size based on 1-2% risk and using no stop loss (adjust the smaller ADR's instrument position size based on the larger one's).
The setup is based mostly on the EURNZD chart, but both eurusd and nzdusd look good on the long and short side respectively.
We can then proceed to close one of them or both, based on the price action and unrealized profits.
Good luck,
Ivan.
Procedure for the spread trade is measuring ADR for each instrument, picking position size based on 1-2% risk and using no stop loss (adjust the smaller ADR's instrument position size based on the larger one's).
The setup is based mostly on the EURNZD chart, but both eurusd and nzdusd look good on the long and short side respectively.
We can then proceed to close one of them or both, based on the price action and unrealized profits.
Good luck,
Ivan.
Trade closed: target reached
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