Good posts, keep the thread active, very helpful for all types of traders.
Agreed, next week should be interesting
For anyone not aware of the upcoming weeks events, follow this link here
Click on any event that may interest you for a more detailed explanation of it
[B]GbpAud - The Week Ahead[/B]
Aussie dependence on China is hurting the Aud currently and if Chinese manufacturing data on Tuesday is disappointing we can expect further volatility in Aud and Nzd pairs. Positive sentiment towards the pound and the perceived belief that a US rate hike opens the door for a UK hike in the coming months could push both GbpAud and GbpNzd higher.
I expect GbpAud to open higher than Fridays close of 2.1930, possibly around the 2.1970 area, and to push thru 2.2000 fairly quickly.
I have 2 long trades here, 1 with a TP at 2.2155 (+500 pips) and the other at 2.2630 (+1000 pips)
Surprise there, GbpAud actually dropped momentarily below 2.19 before quickly bouncing back up again.
Proof again that sometimes you really need wide stops, especially when you add in the widening spreads.
GbpAud came back while I slept and hit my stops. Combined profit +450 pips.
Back in after retrace at 2.19101
GbpAud keeps popping over 2.20 then dips back under. Closed US market not helping, just needs a push over the line
In the last 6 hours, it broke the 2.200 level 5 times, but got rejected. It just broke above 2.200 again. Will it hold and break higher this time?
I’m sitting on the sideline watching this interesting pair. I’m also going to stay out out of GBP/NZD until all of the news are finished.
Well done on your +450 pips.
Hopefully when it does break the 2.20 resistance will turn into support for the next push.
Like you on gnpnzd, it’s had a nice move today. I would consider buying if it dropped a 100 or so pips, otherwise I’ll get the news out of the way as well.
Happy trading
[B]GbpNzd[/B] nice 350 pip rise so far today.
Currently stuck around 2.4390, slight fallback wouldn’t be a surprise and might be a good chance to buy long ahead of upcoming news
Exactly how it worked out. Now pushing 2.2060
What a find this pair is proving to be!
Lower spreads than GbpNzd, stronger, longer uptrend.
Now pushing thru 2.21.
Long at 2.18070, too good to ignore at this price
I agree. The price looks good and it is sitting on a good near term support level.
But, I think I’ll sit out because of the upcoming news in about 8 hours. Of course, this pair can easily move 200 pips in 8 hours!
It will be interesting to see if it breaks up or down from that range your chart shows
Been a bit of a wait, but back in the black with SL just above break even.
Squeeky bum time over
After that GBP news, the market was very good to you :), A very apt title for this thread lol and glad it worked out
Hey guys, Mike here.
I just wanted to throw this in for ya. (Talking about volatile pairs)
I have a volatile list, on the weekly time frame. So what I have here is the average pip range of the weekly candles on these pairs. And this is the average from this year only. I keep a running total every week.
GBP/NZD = 643
GBP/AUD = 503
EUR/NZD = 476
EUR/AUD = 430
GBP/JPY = 406
GBP/CAD = 404
EUR/CAD = 376
GBP/CHF = 369
EUR/JPY = 343
CHF/JPY = 326
EUR/USD = 324
GBP/USD = 308
USD/CHF = 273
USD/CAD = 273
AUD/NZD = 250
NZD/JPY = 249
AUD/JPY = 248
NZD/CAD = 241
AUD/CHF = 229
NZD/CHF = 226
NZD/USD = 220
CAD/JPY = 217
AUD/USD = 211
AUD/CAD = 210
USD/JPY = 205
CAD/CHF = 202
EUR/CHF = 195
EUR/GBP = 170
Now, just so you know, I didn’t count “Black Thursday” into all of this. (Jan. 15)
I totaled the weekly candles and divided by 34 (weeks).
This gives a good judge of how many pips can be expected throughout a week. (Of course you know how much we can expect in this beast of a market) (It’s just a glimpse)
Eddie…you can see why you like the GBP/AUD next to the GBP/NZD.
So…FYI for ya.
Mike