NZDCAD at the 1.618 extension. Bounce Expected.

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
60 0 1
NZDCAD             just reached the 1.618 extension of it's recent abrupt fall, so I'm hedging myself until a . 382 retracement of the total fall. Don't take this trade if you're not short from the top.
If price continues to fall it would be like you had closed part of your position too soon, but you won't loose money. Plus, if it does keep falling, it is very unlikely that it will never reach this point again so you can close it without loss.

But please keep part of your shorts for a month at least, it will worth it.
Comment: Consider moving your stops to breakeven, and remember that after that spike the .382 is now at 0.95975..
Comment: Stopped out at breakeven and just reopened at 0.9469. Same criteria, stops to breakeven as soon as it moves up a little.
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