ldiary
Short

TRADING STRATEGY FOR WEEK 30 (25 - 29 JULY, 2016)

FX:GBPNZD   British Pound/New Zealand Dollar
52 0 1
I'm currently holding 11K short position after the end of this week trading hours. The price didn't reach 1.94 so I'm not holding a full position.
( Bearish ) I'm looking to reduce this short position to 5K on the green arrow move and wait for an orange arrow pullback before adding more shorts. If a bearish cloud is formed on top of the price, I will continue to build shorts targeting the orange dotted line.
( Bullish ) If the price is going to climb up to the pink dotted line (around 1.90) again, I will take a full short position depending on how the pullback in NZDUSD             is taking place. I'm expecting the NZDUSD             to break lows and then reverse back (upwards). In case the NZDUSD             upward reversal does not happen and GBPNZD             continues to climb further, I will wait for a pink arrow pull back before closing the short position.
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