An Interesting Setup In The Kiwi
Hello all,
It seems to me we are not quite out of the woods on the 'correction' and October still has a ways to go here. I like the idea of shorting the dead-cat-bounce within the 'risk asset' base and I see an interesting setup developing on the Kiwi. The trade details are outlined on the chart above. I simply ask for 3 independent reasons to justify a trade idea and I think we have them here. Bearish momentum divergence, Tag of OTE zone (Mtn. Man level) and now a Hollywood Nik double top to short against. While no trade is guaranteed to work, I like the odds of this setup and given the opportunity, would be more than happy to put it on. For disclosure purposes, I am concentrating my efforts on building my crypto currency portfolio at the moment. Once I get that stake up to critical mass levels I will look to explore Forex trading in earnest. Until then I am merely a spectator and as a result, please take the setups/ideas as just that - mussing from the cheap seats....lol
Cheers all and good luck in following your trading plans.
Brian
aka
The Canadian Rational Investor
therationalinvestor.co/
It seems to me we are not quite out of the woods on the 'correction' and October still has a ways to go here. I like the idea of shorting the dead-cat-bounce within the 'risk asset' base and I see an interesting setup developing on the Kiwi. The trade details are outlined on the chart above. I simply ask for 3 independent reasons to justify a trade idea and I think we have them here. Bearish momentum divergence, Tag of OTE zone (Mtn. Man level) and now a Hollywood Nik double top to short against. While no trade is guaranteed to work, I like the odds of this setup and given the opportunity, would be more than happy to put it on. For disclosure purposes, I am concentrating my efforts on building my crypto currency portfolio at the moment. Once I get that stake up to critical mass levels I will look to explore Forex trading in earnest. Until then I am merely a spectator and as a result, please take the setups/ideas as just that - mussing from the cheap seats....lol
Cheers all and good luck in following your trading plans.
Brian
aka
The Canadian Rational Investor
therationalinvestor.co/
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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.
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.