NZDCAD: Selling tomorrow
Looking at a short term short sell here.
I'll open a position tomorrow at the open, target is the very least the 0.8950 level but since we're so close to the long term highest low/lowest high channel, I think it has a strong chance of rebounding, but also a strong chance of crossing through and going for even lower lows.
Should be a profitable trade, either way, unless I'm proven wrong in my analysis.
A temporary rebound whilst not retesting 0.92670 will give me reasons to scale in with a second batch.
Risking 1% per position initially, moving stop to break even after 1 atr profit.
Good luck!
I'll open a position tomorrow at the open, target is the very least the 0.8950 level but since we're so close to the long term highest low/lowest high channel, I think it has a strong chance of rebounding, but also a strong chance of crossing through and going for even lower lows.
Should be a profitable trade, either way, unless I'm proven wrong in my analysis.
A temporary rebound whilst not retesting 0.92670 will give me reasons to scale in with a second batch.
Risking 1% per position initially, moving stop to break even after 1 atr profit.
Good luck!
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