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krissur

NZDCAD: Reversal within Channel, short

Short
New Zealand Dollar / Canadian Dollar (FOREXCOM:NZDCAD)  
krissur Updated   
FOREXCOM:NZDCAD   New Zealand Dollar / Canadian Dollar
Support and Resistance Trend Lines Multiple Time Frame Analysis swingtrading trendtrading priceaction Trend Line Break
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supportandresistance trendline mtfa swingtrading trendtrading priceaction trendlinebreak
Since 2014 NZDCAD has been moving in a range. From the beginning of the year price moved up from the support/bottom of the channel and near resistance price turn around and even broke out of the upward channel.

Therefor I've closed my long positions and switch to short posisitons. Target is the upward moving trendline on the weekly chart, near the bottom of the range.
Trade active:
Price is still moving in the downward channel. 0.87500 cold be the target. let's keep watching the structure. I'm still short on this. :)
Comment:
This has moved exactly as the original idea. Price is still in a downwrd ranche so I'm still SHORT
Comment:
Still holding shorts, no need to explain
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