Quick Short on NZDUSD (Channel Time... I hope!)
Entered this trade late as I would ideally be nearer/on the channel line in yellow (pale yellow.. sorry!).
Only entered with half my position and will add the other half if it does head back towards the channel. Either way it fits within my 1% risk profile.
Going on the assumption of a downward channel forming and want to get in and out very quickly.. if possible.
THE RSI, STOCH and MACD all pointing towards a slow downward movement in the price. Will exit at the target price or sooner if the indicators turn against me over the next hour or so.
Only entered with half my position and will add the other half if it does head back towards the channel. Either way it fits within my 1% risk profile.
Going on the assumption of a downward channel forming and want to get in and out very quickly.. if possible.
THE RSI, STOCH and MACD all pointing towards a slow downward movement in the price. Will exit at the target price or sooner if the indicators turn against me over the next hour or so.