NZDUSD: Sell the top of the rally

Nov 27, 2016

NZDUSD has an interesting setup here. RgMov has now changed direction showing the trend is potentially down, so it might be safer to sell it at the top of the ongoing correction, to rejoin the recently started downtrend. This makes me think gold and the Euro will behave similarly, which is what I had originally thought. The dollar long term uptrend might have resumed before our eyes, and we're seeing the first correction in daily scale, so don't miss it!

I'll be looking to short against a key level, once price action favors it, so, for the time being I'm standing aside and watching. We have enough trades to go long during the dollar correction.

Good luck,

Ivan Labrie.

Nov 27, 2016

Note

Watch momentum indicators here.

Nov 28, 2016

Note

On track.

Nov 30, 2016

Trade active

We can short under today's low without much problem.

Dec 1, 2016

Note

Good progress.

Dec 9, 2016

Note

Going above yesterday's high would negate the downtrend.
You can short under yesterday's low here, risking 0.5% and adding to reach 1% risk on any adverse excursion half way to your stop.

Dec 19, 2016

Trade closed manually

The price action is scary, I'm out of all FX trades for now, I think we can get a retracement in the dollar trend.