IvanLabrie
Short

NZDUSD: Expecting downtrend continuation

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
10 months ago
It looks like NZDUSD-1.49% will resume the bearish trend right away.
The confirmation for this setup would be to see a sharp decline, reaching 0,60135 before March 2nd ideally.
We could preemtively enter shorts at market and use a stop at 0.68286 initially, and add to the trade as it progresses.

The potential decline ahead is rather large, and when we apply an 'expanding triangle' look to is, it would appear like we can expect a 2x range decline in this pair.
Rgmov is bearish and the price action highly suggestive.

Good luck!
Ivan Labrie.
10 months ago
Comment: I'm out of this position for now.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Synapse
10 months ago
Nice Analysis Ivan - My personal targets for the initial fall will be to see .5900-.6000, I usually target the closer of the two to increase chance of an auto closed trade.
Reply
IvanLabrie PRO Synapse
10 months ago
Yes, that'd be the required drop in the near short term for me to expect further downside with no retracement.
It looks really, really bearish now.
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lord82
10 months ago
Nice analysis. But 10% drop in 1 month? Is not a bit overdone? You even predicting a 30% drop in 3 months
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IvanLabrie PRO lord82
10 months ago
It's not farfetched at all. Go back and you will see similar moves before.
+1 Reply
IvanLabrie PRO IvanLabrie
10 months ago
snapshot
+1 Reply
lord82 IvanLabrie
10 months ago
Yes I saw. but the postponement of interest rate cuts may constitute a nuisance, success
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IvanLabrie PRO lord82
10 months ago
We'll know soon enough.
The idea is to be on the short side and add as it proves it's working.
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lord82 IvanLabrie
10 months ago
I understand. The rise and fall slowly you see how hard it is. It continues its bullish. success of your analysis
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lord82 lord82
10 months ago
I do not believe that will fall short. no data and news to decline. comment by purely technical wrong
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jhakas
10 months ago
If nzd remain above 0.6429 on weekly then i expect 0.72 in coming weeks.. only weekly close below 0.6429 will wash away this scenario... weekly close below 0.6429 will lead for another 400 to 600 pips down in nzd.
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IvanLabrie PRO jhakas
10 months ago
Depends on your analysis methodology.
For me, I don't know, it looks quite bearish already, further confirmation would be a sharp move down.
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jhakas IvanLabrie
10 months ago
maybe i am wrong but time will tell.. i have some figures that will give confirmation if bearish trend.. for short term.. 0.6678 will be provide supply and if taken out successfully then 0.674 again..
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IvanLabrie PRO jhakas
10 months ago
Great, stick to your guns if it's working for you, but I agree on the bearish outlook more or less.
+1 Reply
jhakas IvanLabrie
10 months ago
no offense.. just healthy sharing..
+1 Reply
jhakas IvanLabrie
10 months ago
i will jump on to bear side if i see bearish signs..
+1 Reply
IvanLabrie PRO jhakas
10 months ago
True, I'm not offended, just saying that trading is a personal endeavor, and highly psychological in nature. You need a trading belief system, if other people's aligns with yours great, but it's not vital.
If you find your methodology has an edge and you feel confident utilizing it, and not second guessing signals from your system, you will make money.
Cheers!
Reply
jhakas IvanLabrie
10 months ago
nice.. Cheers!
Reply
lord82
10 months ago
11 hours ago
Comment. I'm out of this position for now.


I think you stop the decline? Do you have a new analysis?

Reply
IvanLabrie PRO lord82
10 months ago
Hi, I'll wait for further confirmation before shorting again. I had shorted from 0.6522 and from 0.6695 but covered on the recent decline, when it failed to drop lower.
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