StirlingBishop

USD/CNH Sell Idea (Potentially Major)

Long
FX:USDCNH   U.S. Dollar/Chinese Yuan
This pairing has been unable to break above the $7 dollar resistance - rejected in Dec 16' and again in Oct 18'. I will be looking at a short position after technical and fundamental factors have lined up in favour of this direction.

The US Mid-term elections have softened the dollar rally that began just before summer 2018. However, I will not be opening any positions until trend-line A has been broken.

Losses can exceed initial deposits when trading market instruments. You can manage your losses by using smart risk management. Identify what your entry, Take Profit and Stop Loss levels will be before you enter a trade.

If you stick by a smart trading plan you can substantially reduce your exposure to losses.

Comment: Just to confirm a mistake - THIS IS A SHORT IDEA, NOT A LONG.

Comments

Great idea! I think about "Short" by this pair too. Here is my trading idea: Please, take a look and comment whether you agree or not.
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