An Interesting Setup In The Kiwi

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
304 3 2
Hello all,
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. Bearish momentum divergence, Tag of OTE             zone ( Mtn             . Man level) and now a Hollywood Nik double top 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
Cheers all and good luck in following your trading plans.

The Canadian Rational Investor
10/23/14 Winner winner chicken dinner....profit target hit (.7803) through North American after hours session. 2.93/1 r/r sweet trade.....
RomanoRnr CRInvestor
Not only that. I noticed your chart & the greenzone. I went long & sold today in a rally. Great Trade Brian. Short&long, you killed it!
nice trade
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