NZDUSD - Downtrend started

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
371 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.

02.10.2014 Closed 33%

I have closed on 18.09.2014 the first 33%.

33% remaining
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...
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
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