Short The Nzd/$

short the New Zealand $

Written by Marc Walton

I recently retired as a professional trader. I now focus on teaching others to trade my funds. My team and I have coached 1000's of home based forex traders. Along with trading psychologist, Rich Friesen & a former student of mine, turned full-time trader & now a mentor: Pierre du Plessis

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May 28, 2014

new zealand dollarHi, today I took a short on the Nzd/$ and there may well be further opportunities to do so today and in the coming weeks.

This is not a pair that I used to trade so why have I shorted it?

Fotis Papatheofanous and myself have created a futures trading fund that compliments our forex, cfds & bond trading.

If you missed the post you can find it here: How We Turned $100k in to $25 million

Part of that process is that we have regular “partner meetings” where Fotis provides a detailed fundamental summary from his global macro economic analysis. Fotis analyses numerous sources. News releases, data releases, sentiment, interest rates etc

This Tuesday 27th May we recorded such a session where Fotis had used this analysis to pinpoint pairs that we should be looking to trade this & the coming weeks.

Fotis flagged the Nzd/$ as being a pair we should concentrate on from a fundamental perspective. We then use technical analysis to pin point our entries. We previously shorted this pair a few weeks ago and have added to that position today. Everything is explained in the video

If you missed this trade also keep your eye on the Nzd/Yen as that also has a lot of room to fall at least 500 pips to January’s low

nzd

Fotis also shows you how to use correlation from other markets to asses future price movements on other pairs. The Dow Jones index for example gives a big clue as to where specific pairs are likely to go next and he shows you in the video what he is looking for to give directional clues on the $/Yen

All explained in the video

New members please note: If I am looking to take a trade long, at for example 1.5000 , I place my order 10 pips above & 10 pips below for a short. This is because price often does not quite reach a major line and you need to allow for spreads.

We are NOT a “tipping service” our aim is to teach you how to trade for yourself.

If you would like to receive more in depth forex coaching and analysis BEFORE the event then consider joining our 5* rated, low cost Forex Mentor Program

 

http://youtu.be/TZ2NvMQ_4mA

Author: Marc Walton

Short The Nzd/$

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