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IvanLabrie
Jan 29, 2015 1:18 PM

NZDCAD: Selling tomorrow Short

New Zealand Dollar/Canadian DollarFXCM

Description

Looking at a short term short sell here.
I'll open a position tomorrow at the open, target is the very least the 0.8950 level but since we're so close to the long term highest low/lowest high channel, I think it has a strong chance of rebounding, but also a strong chance of crossing through and going for even lower lows.

Should be a profitable trade, either way, unless I'm proven wrong in my analysis.
A temporary rebound whilst not retesting 0.92670 will give me reasons to scale in with a second batch.
Risking 1% per position initially, moving stop to break even after 1 atr profit.
Good luck!
Comments
IvanLabrie
Terminal wedge forming...CAD strength is picking up.
IvanLabrie


This is probably a good short.
IvanLabrie
IvanLabrie
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