USDCNH: PBOC devaluation in action
We're holding longs in this pair.
Let's see how it goes, every time it makes new weekly lows it's finding buyers stepping in, which is more evident in the current uptrending enviroment. Rgmov moves constantly up, so it's a good idea to look for longs when it is overextended.
Since we have broken all resistances, we could see a dramatic move up from here. Risk is fairly small, I would keep stops at the recent swing low for the time being.
Check out my updated track record here: pastebin.com/6CyyqnPT
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Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
Let's see how it goes, every time it makes new weekly lows it's finding buyers stepping in, which is more evident in the current uptrending enviroment. Rgmov moves constantly up, so it's a good idea to look for longs when it is overextended.
Since we have broken all resistances, we could see a dramatic move up from here. Risk is fairly small, I would keep stops at the recent swing low for the time being.
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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