Greetings Fellow Traders,
I thought we were all done with these violent ranging swings on NZDUSD - the overall picture remains unchanged and I am once again Short on NZDUSD (Long on AUDNZD, GBPNZD) for the next several weeks. After the Bearish Flag/Triangle continuation post - the market adapted to a descending wedge and broke back to the upside.
Do not expect the market to drop as drastically as it did rise. Instead give it a few days and most of next week to really get the momentum to turn. By the end of the month we should be nearing the .66000 levels again.
Keep in mind June 23rd has the UK Referendum and I fully expect the outcome of that event to support this trade decision on GBPNZD (as well as GBPUSD)
.7089 is my official entry
Anything above.70000 is ideal.
Comments/Feedback are always welcome.
I thought we were all done with these violent ranging swings on NZDUSD - the overall picture remains unchanged and I am once again Short on NZDUSD (Long on AUDNZD, GBPNZD) for the next several weeks. After the Bearish Flag/Triangle continuation post - the market adapted to a descending wedge and broke back to the upside.
Do not expect the market to drop as drastically as it did rise. Instead give it a few days and most of next week to really get the momentum to turn. By the end of the month we should be nearing the .66000 levels again.
Keep in mind June 23rd has the UK Referendum and I fully expect the outcome of that event to support this trade decision on GBPNZD (as well as GBPUSD)
.7089 is my official entry
Anything above.70000 is ideal.
Comments/Feedback are always welcome.