Forex Trading Strategies
Last week was officially the stop hunt week for the Aussie and the Kiwi but when you have conviction in a trade then you should sell and hold with the correct risk management. We already took this trade at Platinum and are in profit by 423 Pips with a net profit of over £313,020.00 by using Platinum’s Forex Trading Strategies.
Yes, this is correct!
Today, I want to show you that you can still take advantage of this move and make money in the coming weeks. Now, if you are new to FOREX trading, do not worry please just book a free 30-minute consultation and I will show you how easy it is to trade currencies with our Forex Trading Strategies.
Remember at Platinum, we teach all individuals from different walks of life to become a trader or create a secondary revenue stream with our Forex Trading Strategies.
As most of you know, I always study the fundamentals first for any currency and then move on the technicals because I believe this gives me a true edge to trading currencies.
Let’s talk about and understand what is going on with the New Zealand Economy
Head chap at the RBNZ Graeme Wheeler is without doubt the hardest central bank governor to fathom. His meetings are plain boring and so laid back that most of those attending seem completely disinterested in actually asking questions. What is the point? He says one thing and does another.
Sadly, from my perspective the NZD is badly valued against most currencies from the AUD through to the USD and I cannot work out why the NZD/USD is closer to 0.7500 rather than 0.5500. It is defying gravity from a currency perspective. As many of my “Elite Platinum Traders” know I am still holding the kiwi short and am looking for a drop of more than 600 Pips overall and it is just a matter of time.
Two or three months ago, I would have said that this currency with Milk pricing pressures, China and Commodities all against it, would see it needing to be re-valued considerably lower. It has not had the cuts I had expected and I will be surprised if there are any more in the offing this year. But frankly who knows, decisions in New Zealand are reactive rather than proactive, so one cannot be certain.
So what’s going on with the kiwi that Platinum analysts think it will make profit.
The New Zealand dollar reached new levels last seen in 2015 but could not reach the promised land of 0.75. The GDP release is the main event for the upcoming week.
Milk prices enjoyed big gains for the third consecutive time, with 7.7% this time. The higher dairy prices certainly helped NZD/USD. Another factor pushing the pair to the upside was the weakness of the US dollar. The services sector indicator fell sharply and triggered a USD sell-off. However, the greenback eventually recovered.
WOULD YOU LIKE TO TRADE ALONG SIDE A PROFESSIONAL TRADER THEN BOOK FOR A FREE SESSION?
Platinum Forex Trading Strategies for the Kiwi
The kiwi is bearish full stop and I have been saying this day in and day out. We rejected the 0.7500 and put in almost a 200 pip retracement. Where is the kiwi going next? Just like the Aussie a massive Red Candle and I expect further downside. A break and close below 0.7218 can open the doors for the bears. Let’s try and get on this ride.
HOW TO TRADE THE NZD/USD PAIR?
A) Short the NZD/USD @0.7380 or nearest zone with a 40 Pips stop loss and a target of 0.6965
B) Place alerts on the major and minor support areas and go for 20/20 trades
When someone first hears the words technical analysis they tend to over think and start believing that trading is too difficult and time consuming. Believe me every single chart that you can see that I have published is very basic just outlining how the trade is produced.
We have a belief here at Platinum that –
Perfect Trade = Perfect Fundamental + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management.
So with the above in mind let’s talk about the piptastic opportunities that are coming to the Platinum Trading Floor in the month of September.
Before I move ahead ALWAYS USE STOP LOSSES IN TRADING AND ALSO WE ARE NOT GIVING YOU TRADING ADVICE.
IMPORTANT LEVELS TO KEEP AN EYE ON FOR BUYS AND SELLS
- 7740 – is high watermark that capped the pair back in April 2015
- 7480 – is the high level seen in September 2016
- 7290 – was the pre-Brexit peak and serves as high resistance
- 7240 – which capped the pair in July 2016
- 7160 – worked as support when the kiwi was trading on the much higher ground in 2014.
- 7050 – was the peak in April 2015
- 6940 – The Bounce level for the kiwi
All trades should have a stop loss not more than 40 Pips as stated on the chart. Place alerts at these level and watch the profitability in front of your eyes and we can have over a 200 Pips move in one day, so please learn Sell and hold.
So how can you trade the above fundamental events? Please click here and I will arrange a one 2 one consultation for you which will help you in better understanding Platinum’s Forex Trading Strategies 🙂
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The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.