Bulletproof Traders in-house trading activities presents our recently taken short position on the NZD/CHF. Targeting the medium-term cycle, we believe price is under a full fledged downside reversal, with the potential to reach 0.5995, and probably even beyond towards the previous lows around 0.5900.
This is really the kind of setups that gets our juices flowing. A perfect coordination between the short-term cycle and the long-term cycle. This kind of conjunction usually yields a major shift in the current direction of the trend. We believe this is exactly the case with the NZD/CHF.
