GBPNZD Swing Trade That Made 1,890 Pips In 4 Days

In swing trading, the quality of the trade is more important than the quantity. Once you have mastered the art of swing trading, you only need 1-2 good swing trades to double your account in one month. GBPNZD is a good pair for swing trading as it moves a lot. Our broker spread for GBPNZD is 10 pips. Despite a high spread, you should trade this pair. In this post we explain in detail a recent GBPNZD swing trade. Take a look at the following chart.

GBPNZD Swing Trade

You can see a very strong bullish divergence pattern appearing on H4 chart. When this type of strong bullish pattern appears, it means the market has reached the bottom and is about to take a turn. So we enter into a long trade. Our entry is 1.93575 (remember the 10 pip spread) and the stop loss is 1.93000. So our risk is 57 pips in this case. Once we enter into a trade there are either 2 possibilities. Either the stop loss will get hit or the trade will continue. If we have done our technical analysis well, the odds of stop loss getting hit are very low. So we close the computer. Next day when we open the chart, we find the trade well in profit. Take a look at the following chart.

GBPNZD Swing Trade

The white line shows our first position. This was the first position that we had opened and the risk was 57 pips. In the screenshot below, the second white horizontal line shows the second position. Price went up as you can see in the above screenshot. Then it made a retracement. Retracement is always there. Price cannot continue in one direction for a long time. It needs to take rest and consolidate itself. This is what we call a retracement. After price has taken rest, it again shoots up.

GBPNZD Swing Trade

We open our second position at 1.94221 and move the stop loss to breakeven for the first position which is 1.93575. Now the first position is risk free and we have a cushion of around 100 pips for the second position. We are in no hurry to close the trade.

GBPNZD Swing Trade

In this screenshot, you can see we opened a third position at 1.96202 and moved the stop loss to 1.94221. So our first 2 positions are now risk free. The third position has a nice cushion of 200 pips.

GBPNZD Swing Trade

In this screenshot, we open the fourth position at 1.98086 and move the stop loss to 1.96202.

GBPNZD Swing Trade

In this screenshot, the while line shows the monthly pivot line. Price is finding resistance at the monthly pivot line. So we close the trade at 2.00000 level. How many pips did we make? First position made 640 pips. Second position made 580 pips. Third position made 370 pips and the fourth position made 300 pips. So this GBPNZD swing trade made a total of 1890 pips.

For members of our Million Dollar Trading Challenge, we email them this positions. So if you are the member of the Million Dollar Trading Challenge, you will get an email to get ready for a GBPNZD swing trade. Then we will email you just when we open our new positions and move our stop loss.

0 Comments