Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

EURNZD buy trade explained - 8 May 2024 #forex #trading #forexsignals #shorts

8 May 2024 · 1 min

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Vladimir Ribakov reviews a EUR/NZD long trade that looked perfect on paper: daily and 4-hour trend lines broke up, the 1-hour showed higher highs, and price pulled back to Fibonacci levels. Instead, the market made three consecutive lower highs and lower lows, breaking through support and killing the trade. He emphasizes cutting losses when the market says no.

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Hello traders, Vladimir here from Home Trader Club and this is a follow-up on the EUR/NZD buy trade. So last week we published here a buy opportunity. The daily trend line was broken to the upside and 4-hour chart broke its own trend line— classical bullish signs. 1-hour chart made higher highs on the chart with higher highs on the indicator which hints the buyers in control. Theoretically it's a perfect setup to buy the dips Right from the Fibonacci levels. But the market doesn't care how classical setup looks like. The market will do what the market has to do. And we as traders must accept it and cut the loss when things do not go as we want. EUR/NZD makes 3 lower highs, lower lows through the Fibonacci, making this trade fail. Cut the loss when the market doesn't do what you expect. There is always tomorrow when it comes to trading. There is always new opportunity.