NZDUSD: Potential turning point
Updated
NZDUSD is at a good support zone, and could turn up from here, following gold, which is very oversold. I'm waiting to enter long here, I'd like to see how today's bar acts, to buy into strength going forward. You shouldn't rush into gold or NZDUSD longs right away, but, should monitor how today behaves first.
The negative news surrounding New Zealand serve as an extra ingredient, to give us enough bearish sentiment for a bottom in here: bloomberg.com/news/articles/2016-11-13/massive-quake-kills-two-in-new-zealand-causes-extensive-damage
Live cattle and milk futures remain bullish, and gold might be about to bottom after stopping out longs and making perma-bulls give up, hopefully, very soon.
If you want to learn more about the trade entry, and risk management, contact me via pm.
Good luck,
Ivan Labrie.
The negative news surrounding New Zealand serve as an extra ingredient, to give us enough bearish sentiment for a bottom in here: bloomberg.com/news/articles/2016-11-13/massive-quake-kills-two-in-new-zealand-causes-extensive-damage
Live cattle and milk futures remain bullish, and gold might be about to bottom after stopping out longs and making perma-bulls give up, hopefully, very soon.
If you want to learn more about the trade entry, and risk management, contact me via pm.
Good luck,
Ivan Labrie.
Note
Bottom of the linear regression channel hit, I'll watch today's activity and then enter. Not yet doable.Note
I'm entering the long very soon, looks good for a bottom here.Note
I don't like how it's acting, I'll exit my long here and reenter soon. Might go lower first.Trade active
(was a good exit, would have hit my stop and lost 2x what I lost)Let's buy a new high today, stop under yesterday's low.
Note
You can buy here with 0.5% risk.
Trade active
Added to longs and trailed all stops up to 0.7007
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