NZDUSD - Downtrend started

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
368 12 13
There is a new uptrend in the dollar, hence downtrend in NZDUSD             . Here we have a combination of dollar strength, and kiwi weakness. The weekly chart still points down, check the linked chart below.

We had a bullish divergence this week, and until the impulse system becomes red again, the divergence is not over, but my opinion is that this is all we'll get, and that is a 1.12% rally. The next proper support is at 0.81000, followed by 0.80000.

As I wrote on the chart, there are two ways to play this, and I haven't decided yet which one it'll be. I still have a short position take from the top, and I'm planning to keep it for a while.

This pair will continue moving down during the coming weeks.

it just recovered from around 0.834. Is it still bearish ?
It's still bearish... you can wait for the impulse system to turn red if you are scared to short it here
Sam0101 vlad.adrian
what are the best entry you suggested to short here 0.84?
I can't make a suggestions, it is up to you. I am waiting for the impulse to turn red. You can do that or short it here and place a stop above 0.84000. If you don't know which one, then I suggest you trade on a demo account for the moment.
02.09.2014 sold at 0.83308 impulse became red
Sam0101 vlad.adrian
U sell at 0.833?
yes already have
Sam0101 vlad.adrian
All the way to 0.81 or 0.825?
I wrote in the description, 0.80-0.81
Sam0101 vlad.adrian
hi adrian, i think there will be at least a rebound around 0.828 to 0.84?
The trick about trading is to get a bias and keep it. You can't trade all the swings in the market. Since 2 weeks, everybody expects a correction in the dollar, but that never came. Either you are long or you are short. You can't be long short long short long again, or at least I can't. There will be rebounds in any instrument, including NZDUSD, but the pair remains bearish, and that is where I want to be, on the short side. If I will see that there is a change, I will get out of the 2 short positions I have. Until then...
02.10.2014 Closed 33%

I have closed on 18.09.2014 the first 33%.

33% remaining
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