IvanLabrie
Long

Forex portfolio:NZDCAD-Low risk buy opportunity against support

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
We can enter longs in this pair here. Risk is a drop to 0.94199, but the target is 0.99359 at least.

Good luck!

Ivan Labrie.
Comment: Move stop to 0.9537. You can add on dips with this new stop, since the first position is risk free now.
Comment: No chance to buy dips, but holding.
Comment: closed half here.
Trade closed manually: Trailed out of the trade at 0.9629
even if there is H&S this kind or resistance will force the market to respect it even if the market eventfully will go uptrend but for this 2 months down trend and im putting all my account in risk for this trade and lets see what will happen .
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On what trade, the short?
Thanks for the comments.
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MoeHelou IvanLabrie
NZDCAD
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and dont forget all the divergences in RSI MACD and stock , i think we have to respect this things speciously when you think about the Psychological situation for people .
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And if you look at NZDUSD there is H&S for USD that means there is very big chance to make the NZD go down or what ?
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MoeHelou MoeHelou
And the nick line has been hit
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Yes, people see an H&S, but I think there is support in NZDUSD, wait 3 days, if selling slows down in it, NZDUSD will go up again, and so will NZDCAD.
(also watch oil this week, give it 3 days as well, don't risk 100% your account and jump to conclusions before this time passes. Also consider the news on the 27th).
Good luck!
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MoeHelou IvanLabrie
Ok and what about the NZDCAD ?
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I'm holding longs for now, I see it as a good strategy based on the difference in performance between NZD and CAD.
You don't need to agree, but just my view.
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MoeHelou IvanLabrie
that means it will not respect the monthly resistance at all ?
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NZDCAD it could rally above it, or stay ranging up here, but I don't think it'll fall anytime soon. If my stop is hit, the trend will change down.
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MoeHelou IvanLabrie
Let see what will happen , i took short and my stop above 0.98100 and i will not go out from this trade i see very good chance with this trade and i trust the historian of the market .
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Yes that's the idea. You have to follow your own ideas, but it's good to see what others are doing too.
Now, I wouldn't reccomend risking more than 2-5% per trade in general. If you're very experienced, perhaps you could get away with that, but even then, it's riskier than going with 1-2% risk max per trade. This forces you to have a bigger capital to achieve a decent profit per month.
(see Technician's post for more info on this)
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And dont forget the divergences in RSI MACD and stock , all this will make the people around the world take it short
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