QuileHills
Short

NZDCHF Catch Break of Local Low

FX:NZDCHF   New Zealand Dollar/Swiss Franc
222 1 8
NZDCHF             gapped far down at market open today (Sunday) then recovered a bit of it's losses.

With the results of the Doha meeting earlier today I would not be surprised to see commodity dollars suffer this week.

I'm using this Sell Stop set up to catch a break of the recent low (.66016).

4H Divergence (shown with brown lines) helps support my views of this potential downward movement, I believe the post-gap noise will give way to some strong downward movement throughout the week.

TP is at my channel support (red line) and SL is at a level where I feel the analysis would be invalidated while still allowing the positions to cope with a bit of indecision resulting in a comfortable R:R of 3.01
forexmech
7 months ago
Hi Kyle. Thanks for the setups. NZDJPY sell stop triggered this morning. NZDUSD not triggered yet. You have it open correct ?
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