IvanLabrie
Long

NZDUSD: Downtrend's done

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
October marks month 6 of a very strong downtrend in the Kiwi.
We have many technicals, as well as interesting fundamentals suggesting dollar weakness for the rest of 2015, perhaps extending into June 2016. This fits in with the probability of retesting the mode in the coming 6 months this chart presents.
Currently, we have a weekly uptrend target on chart, and a nice range expansion week, so we can look to go long on retracements, shall we get a chance next week.
If you want to receive my live updates and trade reccomendations for all the setups that I find, make sure to follow me at collective2, check my profile for details.

Regards,

Ivan Labrie
Time at Mode FX
Trade active: Placed pending orders to go long.
Order cancelled: Cancelled pendings for now.
Idea still valid, but need the daily to top and retrace first.
Comment: Remarkably strong rally, it's interesting that the NZD50 index is also rallying with it. Capital flowing to New Zealand boosting its currency? Discuss...
Comment: Headed for the first weekly target. I'm long NZDJPY for now, and have a pending buy in AUDUSD.
Comment:
snapshot
Im bearish long term , simply based on trend ;)
NZDUSD: MY KEY TRADE ZONES
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IvanLabrie PRO moorekapital
Strictly depends on your definition of trend.
To me that trendline represents nothing.
Also, the timeframe is too big for me to take any trade based on it.
Simply no point in looking at it personally.
+1 Reply
Waiting for right entry to short.
Daily:
snapshot

4h:
snapshot
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IvanLabrie PRO Yahia.Awes
Why so bearish?
Forecasting doesn't imply you'll make money trading.
What's your reasoning for assuming an H&S will form there?
And why would it go for new lows?
Why not wait for the Head to be formed? Jumping the gun in my opinion.
Reply
Yahia.Awes IvanLabrie
As you can see I wait for channel resistance and there is also the bearish divergence. This resistance has held many times and I think it will this time again. Worth the risk for me because i see a falling wedge in DXY with a potential more room up.
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IvanLabrie PRO IvanLabrie
The top of this move might be around 0.697 give or take. Your idea might work as a retracement short, but I'd rather wait for the long, personally.
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Daily view:
snapshot
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Hello, one question, i see you are testing platforms as zulutrade, collective2, etc. Wich one do you recommend? Do i have to change my actual broker? Have you tried Darwinex? I never used that systems since i do not believe in "social trading" but may be things are changing........
Reply
IvanLabrie PRO FullTimeTrader
Hi, I'm using collective2 to provide signals.
Zulutrade has a strange profit reporting mechanism where they compare Gold pips directly to Forex pips.
So, according to them I'm a bad trader because I have more losing than winning pips (yet I have a 60% hit rate and a 35% gain in 55 trades, in a month...risking 5% per trade there). That's why I stopped using their site, it's unprofessional, and shady.

About believing, if you don't have time or the right personality type and methodology, trading is not for you. So, you can benefit from social trading if you're like that. Or you can benefit from it as a beginner, to see how a more advanced trader manages positions and trades overall, while making some money on the side.

I've followed a few traders at zulutrade, and it seems that most are simply not closing losing trades (was using a demo account, so no problem), but they are gaming their system of winning by hit rate and pips in profit, and ignoring losing/floating drawdown until it's late.

https://www.zulutrade.com/trader/302221

See?

Have a great weekend btw :)
Reply
FullTimeTrader IvanLabrie
Thanks, its interesting to have that information first hand. As always there are many scams out there and we must be careful choosing a service. There are off course some good exceptions also. I meant that and not talking about trading because this is a career for me.
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