It seems to me we are not quite out of the woods on the 'correction' and October still has a ways to go here. I like the idea of shorting the dead-cat-bounce within the 'risk asset' base and I see an interesting setup developing on the Kiwi. The trade details are outlined on the chart above. I simply ask for 3 independent reasons to justify a trade idea and I think we have them here. momentum divergence, Tag of OTE zone ( Mtn . Man level) and now a Hollywood Nik to short against. While no trade is guaranteed to work, I like the odds of this setup and given the opportunity, would be more than happy to put it on. For disclosure purposes, I am concentrating my efforts on building my crypto currency portfolio at the moment. Once I get that stake up to critical mass levels I will look to explore Forex trading in earnest. Until then I am merely a spectator and as a result, please take the setups/ideas as just that - mussing from the cheap seats....lol
Cheers all and good luck in following your trading plans.
The Canadian Rational Investor