NZDCAD – In a bullish condition (large spread though)

Do you trade currency crosses with large spreads?

I do, I trade based on what has clear market condition not based on the spread of a currency pair (usually the spread on the NZDCAD is larger than other pairs, such as the EURUSD or the USDJPY). The reason I don’t care about spreads is that I only risk 1% of my account per trade, and the spread is factored in, also I’m a swing trader :) (I’m not a scalper where it can be a problem).

Anyway, I’m waiting for the NZDCAD to retrace back to the main support level:

If it retraces back and forms a significant pattern with upward pressure I’ll definitely go long.

Trade Safe!

Raul Lopez
Forex Course