A Swing Trade on the NZD/CAD, good setup but countertrend

Captura de pantalla 2015-03-31 a las 17.11.28

I have a swing trade for you today. You can see a big bearish engulfig candle has formed on the NZD/CAD daily charts. Enter short with a stop order at 0.9448 and aim for .9352 for around 96 pips. It is a counter trend trade, that’s why I am not aiming for much more, but if you have patience you could wait all the way to .9217 for a 231 pips run. Keep your initial stop at .9561 and move it to Break Even when the day closes under .9397

Let me know if you have any questions regarding this trade and how it went for you.

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4 comments on “A Swing Trade on the NZD/CAD, good setup but countertrend”

  1. Harry Reply

    I have read the majority of your book on Amazon. It has been very helpful. Thanks for your investment. I have only lost close to $2,000. I have basically had to go to a mini account with FXCM. But I believe I can go it to be something that truly benefits my family financially. Your book helped with realistic advice and helped me focus on obtainable goals.

    • Paul Reply

      Hi Harry, thanks a lot for reading my book. Let me know if I can be of any help in your trading.

  2. Russell Jayne Reply

    Paul your book is probably one of the best I’ve Read, Short, Concise and to the Point

    • Paul Reply

      Thanks a lot Russell! I am glad you are finding good use for the information. Let me know if you have any questions or need any help.

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