Posted by: joetradingplace | October 16, 2012

Kiwi Short setup

Remember the article i wrote on buy strength sell weakness?….Looking at aussie and kiwi….aussie has been going up against the dollar whilst the kiwi has been stuck on the 8150 handle….

So for dollar strength, I am better off selling kiwi…..

Look at the hourly chart, we are selling below price with SL just above the minor R…if she breaks down, she has room to  move…we can easily see 8020s……but price is more likely to retest the 8150s before we see 8020s

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