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25.08.2021 11:22 AM
Trading idea for AUD/NZD

AUD / NZD remains in a downward trend. It declined as much as 5,000 pips since February this year.

Currently, it is trading at 1.04, where traders can build up buy orders to provoke an increase.

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Usually, orders are placed on cross-rates after large movements that did not have any pullbacks. Doing so typically provokes a 5,000-pip movement, while some set off as much as 30,000. Pairs that undergo the littlest bustle are called short-strokes, and this include AUD/NZD and AUD/CAD.

In most cases, orders are put up every 500 pips, with volume at 0.01 STANDARD lot for every $ 1000 of the deposit. The target level is generally the mirror level.

This strategy is called Grid Trading.

Good luck and have a nice day!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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