Kiwi dollar short?

[Tony Beckwith]

Hi Guys

Here's an NZD 15 min. short unfolding now through European time...we don't normally look to trade lower timeframes than this...

Good risk/reward potential and, for those who use divergences for added weight, a useful stochastic divergence - implying price is more overbought at the top of the correction than at the start of the downtrend itself...

As usual, we don't know what will happen but the risk is controlled. We'll see!

Tony.

[Tony Beckwith]

Stopped out...

But how about this today...?!!!!!!

Tony.

[kumara_xl]

tony,as per the trading guidelines,the kiwi trade wouldnt have been entered for it did not have a good 'shape' for a trade set-up.whereas the cable trade would have been entere because it had a good trade set-up shape and followed the other set-up guidelines.

just me 2 cents.thx.

S.K.

[Tony Beckwith]

Agreed - not the clearest, most symmetrical ABC but I've seen worse!!

BTW the GBP long was out on the standard trade management guidelines at +7.2x risk/reward: +94 pips profit against 13 pips initial risk - ignoring slippage etc. etc.

Thanks

Tony.