zbojnik, good one An area of consolidation like that is a good thing to look for and expect a measured move break either way once it finally does resolve. low volatility ----> greater volatility ----> low volatility---> greater volatility just as the sun rises and sets. Now do the same thing with a few core patterns that you have rules for thousands of times the same way and apply money management,don't let your costs (spread and comish) take too big a chunk. There are many fakeouts as well and if it fits your style you can develop rules to play those if you wanted to be a fader instead of a breakout guy. Once you get more experience with the market you will understand better which to apply and when.
That's the problem with that kind of powerful move, you cannot find a decent support level to join the party and at the same time it's dangerous to even search for reversal trades!
Buying again at 1.6075 Same stop. Now each pip earned or lost is worth 2 pips. Come on EUR/NZD, get up there boy!