IvanLabrie
Short

USDCNH: Short, in case you were in doubt...

FX:USDCNH   U.S. Dollar/Chinese Yuan
7 months ago
We have a very clear short setup in USDCNH             (or a long in CNHUSD).
I include the CNHUSD or 1/USDCNH (inverse) to help you see why it's useless to do this type of exercise before taking a trade.
I'm already short from last night but after seeing today's close and a new low right now, I think it's fairly safe to enter shorts in this pair, with stops above 6.50377.
You can see how the options expirations support and resistance lines serve as a map, which when aided with price action analysis, can tell you wether the pair will move up or down, or how far it might go. This is because price action surrounding options expirations dates is very significant and is a time when most people focus on the market.

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.
7 months ago
Trade active
7 months ago
Comment: Good progress.
7 months ago
Comment: Short is acting well but it must hit 6.4581 before the daily close to confirm the downside momentum, otherwise it might consolidate some more.
7 months ago
Trade closed manually: I'm out, price action nullified this setup.
7 months ago
Comment:
snapshot


The downtrend failed, buyers are in control, we can go long with stops under today's low.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
williamlau
7 months ago
LOL
Reply
IvanLabrie PRO williamlau
7 months ago
Lol?
Reply
robtrading
7 months ago
Good Idea! I'm long since Friday. My main-target is also like your higher one ;-)

Have a nice week!
Reply
IvanLabrie PRO robtrading
7 months ago
Excellent Rob!
Seems like we're in for a good run.
Cheers.
Reply
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