USDCNH: Looking For High Probability Shorts At Key Level! #Forex
Traders,
Landing on our laps again, is another opportunity to short USDCNH at another key level. As you know by now I only trade Key levels of anything I trade and this is probably a key level.
Looks very bearish, and at a time where USDCNH is still trying to find a mean price in terms of fundamentals & technical structure, it's a good opportunity to jump in and wait for mean to be succeeded. Target would be 6.2670's at best, cant see why not.
Note the 200MA should wrap around target area in this short, so be prepared to TP when the lows of this trade are hit (As money managers will almost certainly acknowledge this pair hitting the 200 and may buy large position depending on circumstances at that time. (Trust me I would know this)
Best of luck,
Tom
Landing on our laps again, is another opportunity to short USDCNH at another key level. As you know by now I only trade Key levels of anything I trade and this is probably a key level.
Looks very bearish, and at a time where USDCNH is still trying to find a mean price in terms of fundamentals & technical structure, it's a good opportunity to jump in and wait for mean to be succeeded. Target would be 6.2670's at best, cant see why not.
Note the 200MA should wrap around target area in this short, so be prepared to TP when the lows of this trade are hit (As money managers will almost certainly acknowledge this pair hitting the 200 and may buy large position depending on circumstances at that time. (Trust me I would know this)
Best of luck,
Tom