EUR/NZD Buy Trade Setup EUR/NZD Buy Trade Setup– Full Details
📌 Trade Parameters
🔹 Pair: EUR/NZD
🔹 Trade Type: Buy (Long)
🔹 Entry Point: 1.90600
🎯 Take Profit (TP): 1.91500 (+90 pips)
🛑 Stop Loss (SL): 1.90200 (-40 pips)
⚖ Risk-Reward Ratio: 1:2.25 (Good RRR ✅)
📊 Market Analysis & Trade Justification
✅ Technical Reasons for Entry
Support Zone: 1.90600 is a strong support level where price previously reversed.
Bullish Confirmation Needed: Look for bullish candlestick patterns (e.g., engulfing, pin bar, or hammer).
Indicators for Confirmation:
RSI: Should be above 50 (indicating buying momentum).
MACD: Bullish crossover confirms upward momentum.
Moving Averages: Price above 50 EMA and 200 EMA is a strong confirmation.
✅ Fundamental Factors
EUR Strength or NZD Weakness: Check for any EUR-positive or NZD-negative news.
Economic Events: Avoid high-impact news around your trade time (check Forex calendar).
📉 Risk Management Strategy
⚠️ Lot Size Calculation (Based on Account Size & Risk)
Standard Formula: (Risk in $) ÷ (Stop Loss in pips × Pip Value)
Example: If risking $100 and SL is 40 pips, use 0.25 lots (based on 10 USD/pip on 1 standard lot).
⚠️ Break-even & Trailing Stop
Move SL to Entry: If price reaches 1.91000 (+40 pips).
Partial Profits: Close 50% at +50 pips and let the rest run to TP.
Trailing Stop: Adjust SL higher as price moves up (e.g., move SL to 1.90800 if price reaches 1.91200).
🛑 Trade Execution Plan
🔸 Step 1: Confirm entry conditions (bullish confirmation, indicators).
🔸 Step 2: Set Entry, SL, TP and ensure risk is within acceptable limits.
🔸 Step 3: Monitor price action and adjust SL if needed.
🔸 Step 4: Exit fully or partially as price moves in favor.
