[TW] 2012-7-30 NZDUSD Short by donnapinciotti


Time frame: 4-hour

Long or Short: Short


Trade Rationale:

There’s a falling trend line if you connect the highs. I’ll be closely watching the .8000 handle for a reversal candlestick. Once it materializes, I’ll short.

I think that investors will soon realize that Europe is still in trouble and when it happens risk aversion will send the Kiwi trading lower.

Trade details:

Short NZD/USD around .8000, SL around .8080 (above previous high), PT .7850

Reward to risk:

Potentially 1.875:1

Doing that right now, but bid is .8056 now, should i short? :rolleyes: