IvanLabrie
Short

NZDCAD: Triple top and potential 12 month decline ahead

FX_IDC:NZDCAD   NEW ZEALAND DOLLAR / CANADIAN DOLLAR
9 months ago
This chart is significantly interesting for a variety of reasons.
On a technical and fundamental basis I think we can expect NZDCAD             to sell off in the intermediate to long term, and right here we have the perfect excuse to join in on this action as a position trade.
The entry is a discretionary entry, below the previous monthly close, in case next month, we stay under the monthly mode at 0.92063, which would confirm the 12 month decline and the target on chart.

Good luck if taking this trade.
Cheers,

Ivan Labrie.
9 months ago
Comment: En route, we have to be patient with this one.
9 months ago
Comment: Possible to reenter or add to it.
9 months ago
Comment: If march closes below the stop this downtrend is confirmed.
8 months ago
Trade closed manually: Might be wise to close the short partially if you're in and move stop loss to entry.
7 months ago
Trade closed manually: You can close and flip long to catch a retrace. Stops below 0.855
7 months ago
Comment: cover*
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Related Ideas

Jakovskii
9 months ago
Interesting. I don't think it will bounce tho.
+1 Reply
IvanLabrie PRO Jakovskii
9 months ago
What do you mean with bounce?
Reply
Jakovskii IvanLabrie
9 months ago
It will go down to the bottom straight this time.
+1 Reply
IvanLabrie PRO Jakovskii
9 months ago
Ah, yes, that's my view.
Reply
Koryphaeen PRO
9 months ago
Nice to see that you too have a bearish forecast on this one. I am involved in a short with 2 standard lots beginning from the moment price action bounced down from the down trendline and I am still holding those positions. Good luck, if you took it as well! :)
Reply
IvanLabrie PRO Koryphaeen
9 months ago
I didn't, but taking it here. Hang in there!!!
Cheers.
+1 Reply
Mariusrim87
9 months ago
Nice one
Here u have mi daily chart and idea .
snapshot
Reply
Jackteo
7 months ago
What's you target on the long side?
Reply
IvanLabrie PRO Jackteo
7 months ago
snapshot
Reply
Jackteo
7 months ago
Thanks Ivan
Reply
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