NZD/USD (Short)

This is the first official trade for this blog. The NZD/USD seem to find resistance at 0.59 level and not able to break out convincingly. I am treading carefully on this one. I got into a position this morning at 2am selling at 58.85. Fundamentals for NZ is very weak at the moment and the global financial crisis hit NZ rather badly. I placed a OCO stop on offer at 0.5935 and limit at 0.5800. The risk reward does not seem very attractive but I will be monitoring the trade closely to see if adjustments can be made after the trade goes into green. Keep my fingers crossed on my first trade update.

Update
Unfortunately, the first trade turns out badly. Got 15 pips to clearing it at a profit but it went up again and hit my stop loss. 50 pips loss. We shall try again when there is possible ground breaking event