Parallel Pairs - AUDUSD & NZDUSD

Good evening Dynamic Traders,

Yesterday I got stopped out from the AUDUSD for a very small profit. One of the keys to successful trading as I mentioned before is capital preservation, the reason for exiting my first position relatively early is so that if the market moves against me I minimise my lost and in this case come out with a small profit.

After getting stopped out of the AUDUSD I still had this pair on my watch list for a long position but I thought I'd have a quick look at its parallel pair NZDUSD to see if there was a better set up. I actually mentioned this pair around a week ago for a short position and since then it moved down over 200 pips.
This morning I went long on this pair after we had a good 618 pullback.














NZDUSD forex chart from Advanced Get


I entered this trade on a hourly time frame as we had a double bottom with MACD convergence with a few other confluence of events I normally look for. I've exited my 1st position and my stop on my 2nd position has been adjusted to just beyond break even so I'm again at least guarenteed a small profit.
















NZDUSD forex chart from Advanced Get
Good trading