NZDUSD long trade

Here we see the aktually weekly-chart of the NZDUSD. I opened a long trade here, because there were several reasons for an entry.

The most important two reasons:

• The price has just arrived at the trendline.
  Traders give much attention to these lines, especially in higher timeframes as the weekly. This means that she acts as a psychological hurdle and there is a certain probability that the course will turn around.
  
• In this area is also a strong support zone (light green marked). Nice to see how often the course in the past had problems to break through this area.

Here the close, short-term view in the 4h-chart. The bottom red line marks my entry and stop-loss. The course was about 45 pips in my direction shortly after my entry. In such a situation, I often move the stop loss directly on my entry level to exclude losses. This too belongs to my risk-management. The upper two red lines mark my goals for this trade. This means I open several positions to divide the risk.