IvanLabrie
Short

USDCLP: Downtrend continuation short

FX_IDC:USDCLP   US DOLLAR / CHILEAN PESO
USDCLP             has traced a nice downtrend, and now with commercial hedgers net long copper             I expect excellent continuation into the lows.
Target is on chart, the time at mode signal specifies a slightly higher target, but there's potential to reach the red arrow below.
Shout out to my mate Tom Killick, he's frequently trading this pair. Check out his posts, definitely a trader worth following.

Good luck if taking this trade.

If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.

Cheers,

Ivan Labrie.
Comment: The time at mode target #1 would be 656,65. Forgot to add it to the publication.
Stops should go above 679, can enter at market on a slight retracement.
Comment: If we get a close below 666.35, this pair will sink.
Comment: Amazing move, congratulations if you're in!
Trade active: (I forgot to flag it as active)
Comment: Still in profit, but be careful, monitor it.
Comment: Good progress, I expect continuation. Similarly to AUDUSD.
Comment: Let's wait for a new low. 2 inside bars in a row so far. Cover 50-75% and move the stop to break even.
Comment: New low, let it cruise.
Comment: Proper breakdown...enjoy it!
Comment: You can move the stop to entry price and let it run risk free.
You might consider covering half if we don't break the previous bar low before the close.
Trade closed manually
Trade active:
snapshot


Reshort here.
Comment: Move stops to entry here.
very nice ;)
+1 Reply
IvanLabrie PRO ManuelRodriguez
Gracias ;)
You are short too?
Cheers.
Reply
Yes but I put my position time ago ,. ( In 720 ;)
Reply
IvanLabrie PRO ManuelRodriguez
Ah, very nice. Yes, this was a good downtrend continuation setup.
Plenty of downside still.
Commercial hedgers are net long copper, we have good fundamental support for CLP (and Aussie).
Reply
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