Short

SHORT THE KIWI - TRADE THE FOMC

Updated

I'm already profited from this pair a number of times since March, firstly from the weekly pin bar and secondly on the third rejection of the highs of 0.732. But there is a third opportunity to take advantage of the FOMC meeting on Wednesday, should a pullback exist into 0.7165 I will be adding to my position and looking for T1 at 0.705, each trade is a 0.5% risk with 2 - 4 percentage points of opportunity. A nice return.

Remember the Kiwi is in the uptrend, this is a short term counter trend entry should the chart tell us there is an option for another entry that matches our risk/reward.

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Loving the pullback while the DXY is finding its levels before Wednesday, bring in more bears - I'm still looking to take profits at T1

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We're now at a very nice resistance point on the daily chart, with a sufficient pull back to interest the bears, with a nice flag forming on the 4h, let's see how this progresses.

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I'd like to thank all those who bought this trade way to early, giving the short term bears the opportunity to buy it back down, looking to close this trade this week and maybe even tomorrow if we get some positive news out of the FOMC to drive up the DXY

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Forming nicely, expecting that pull back into 0.705 in the next 24 hours or Friday at the latest, maybe even lower with the amount of news going on.

REMEMBER WE NEVER TRADE THE NEWS - WE'RE JUST AWARE OF IT

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Waiting for the Kiwi to breakdown down that 0.713 support line so I can take the first profit off from the entry at 0.729

Trade closed: target reached

TARGET REACHED - TAKEN 75% PROFITS, RIDING THE REST

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We're still riding the last past down on profits

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I've done very well on this trade considering I was selling from the highs at 0.735.

Obviously, this and all other assets moved much more than was expected post FOMC meeting, and it was an overreaction if you ask me, so now is the time to wait for price action triggers to confirm support and resistance areas, focus on the weekly, daily charts and only go below to 4H and 1h to confirm those areas.

Trade closed: target reached

T2 was reached and closed automatically, I've now taken all this trade

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There is another opportunity to trade this coming, wait for the pullback into 0.71 and sell it back down, this is a long term bull market but the DXY is unpredictable at this time and therefore we can take short term bets with the bears when the market shows us that. Facts not feelings

Trade active

Hopefully you got back into this one as the DXY is expected to break high again driving the Kiwi down to the next targets

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We're into easy profits for the 6th time on this trade and will now be holding down towards 0.675 into weekly support fib zones

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Serious resistance at 0.7106 so I'm still short

CBMotivation

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