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Short

NZDUSD - One Last Spike - Optimum Sell Entry is Now

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
521 8 13
Greetings Fellow Traders,

I thought we were all done with these violent ranging swings on NZDUSD             - the overall picture remains unchanged and I am once again Short on NZDUSD             (Long on AUDNZD             , GBPNZD             ) for the next several weeks. After the Bearish Flag/Triangle continuation post - the market adapted to a descending wedge and broke back to the upside.

Do not expect the market to drop as drastically as it did rise. Instead give it a few days and most of next week to really get the momentum to turn. By the end of the month we should be nearing the .66000 levels again.

Keep in mind June 23rd has the UK Referendum and I fully expect the outcome of that event to support this trade decision on GBPNZD             (as well as GBPUSD             )

.7089 is my official entry

Anything above.70000 is ideal.

Comments/Feedback are always welcome.
ChatchaiVong
6 months ago
now can sell yes or not , thank so much
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Synapse ChatchaiVong
6 months ago
Hello ChatchaiVong, as indicated in the post, I've already positioned myself to sell.
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ChatchaiVong Synapse
6 months ago
thank so much
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harilaos
6 months ago
It goes up for all wrong reasons, but it does. Should we close our short positions? I would appreciate your answer, Harilaos
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Synapse harilaos
6 months ago
Hello Harilaos, it's been the nature of NZDUSD since February as it has been mostly range bound or in a correction phase. This last move up in the last week or so seems to give hints that a monthly continuation is about to go underway. I personally am not looking for reasons to buy NZDUSD. The evidence on GBPNZD, AUDNZD, and NZDUSD all point to NZD depreciation in the very near future.
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harilaos Synapse
6 months ago
Hello back to you, sorry I don't know your first name. Any way thank you for your kind answer. I will continue monitoring both AUD, NZD and when the latter goes back to 0.7089 I will short it and we will see further how it goes. Have a nice day, Harilaos
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ddp922
6 months ago
Weekly 100ma is also at .7190ish so that should shut this rally down
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Rocketman PRO
2 months ago
Market structure? Phpmph! It looks like your technique is missing something. Plotting the "bones" of a chart are just the surface level of understanding the financial world.
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