NZD is ready to be sold against the USD
I don't love engulfing candles but I like the pin bar the day before yesterday. I think the rally has stalled here and the kiwi should pull back at least to .61. I suspect it'll go lower but I'll be managing my trade pretty closely if it goes my way and gets to 61 cents.
My stops are alway 1.5x average daily range on reversal trades like these.
Obviously I only have one idea at the moment and it's to fade dollar weakness around here so need to be mindful of total risk allocation across any of these trades (correlation of course). It's one trade against a few different pairs and they might just be wrong altogether.
My stops are alway 1.5x average daily range on reversal trades like these.
Obviously I only have one idea at the moment and it's to fade dollar weakness around here so need to be mindful of total risk allocation across any of these trades (correlation of course). It's one trade against a few different pairs and they might just be wrong altogether.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.