Pushing 2.18 now
Forgot to mention, Iām targeting 1000 pips profit here. Fingers crossed
Hope you donāt mind me re-using your image as my avatar, couldnāt resist it!
Are you going to hold it without a Stop Loss or have you already locked in some pips?
Ive removed it for now
This pair has risen 250 pips today, although I didnāt get in at its low point.
No I dont mind. its pretty cool.
good thing I just put the g version up lol
[B]
Go, Eddie!!![/B]
GbpNzd unusually ranging at the moment. Currently 40 pips down here.
Reminds me of old AC/DC song.
Oh for u youngens thtasb the rock nroll group not current:D:D:D:D
3xfx, are you out of hospital and feeling ok?
I was in a clinic the other day and this song came on:
Unforgettableā¦
Yep, very weakā¦
It is as though life itself had been sucked out of this pairā¦
As I said in my video the other day, https://www.youtube.com/watch?v=BfvpGxfHipE,
the GBP/NZD has taken some cues from the GBP/USD more, of late, after being dominated
by its inverse correlation to NZD/USD for many weeks: indeed, the GBP/USDās losses in the
last five days (consecutively bearish, on the daily chart) amount already to over 450 pips:
however, the NZD/USD has also fallen for almost seven days in a row, which means that with
both the GBP and NZD components of this synthetic pair falling at the same time, the result was
one of balance, where the bullish and the bearish sides have been neutralised and rendered unable
to push the pair into one direction or the otherā¦ This is why we see GBP/NZD so diminished, particularly
in the last twenty-four hoursā¦
Given that we are now only six trading days away from the RBNZ rate decision (which, taking off the
Mon. 7th US Labour Day holiday, really makes it five full-size market trading days), the situation is unlikely
to be resolved unless other, unforeseen global forces come into play for this pair between now and thenā¦
Peace.
I am out of here.
PIP yes im home now thanks for asking. Not feeling quite the same yet but getting there
Thanks
John
Not to get thread off track hope your trip to clinic nothing serious.
Iām sure PipMeHappy, 3xfx, Yohec, and Adrian will have their own ideas on how the choose specific entry points, and I would love them to share these here. Myself, I have 2 methods.
- The 3 ducks system. Iāve used this for the majority of my trades and it works very well, especially on trending pairs like those we have elected to trade here.
Simply set up your charts to show 3 time frames- 4hour, 1 hour, and 5 minute. Set each with just 1 indicator, a 60sma.
Look at each time frame in order, largest first.
If price is above the 60sma in the 4 hour, this indicates an uptrend, as below.
Now look at the 1 hour, if price is above the sma this confirms the trend.
Finally look at the 5minute chart. Price over the sma here helps us see an entry point. If, in an uptrend, current 5 minute price is above recent highs then this is a good place to enter. If not, wait for it to make a new recent high before entering.
In the above 5 minute chart, I would wait until price reaches either previous recent highs A, B , or C. Which you choose is up to you. C carries the most risk as it is only just above the support & resistance levels of 2.1800 to 2.1825 which have developed, A is the safest but, of course, you miss out on a few pips by waiting for price to reach here.
Dont enter if the 3 time frames are not all in agreement i.e. all showing price above sma or all showing it below.
- Another method for choosing entry I sometimes use is to wait for price, in an uptrend, to drop. I then watch for the point at which I think the drop is ending and enter after it has begun rising again.
How you choose to enter is entirely up to you, its completely descretionary, just find a method that you are comfortable with.
Happy trading.
GbpAud currently in a tight range between 2.1760 and 2.1840.
Keep an eye on this, if/when it breaks above this it could fly 100 pips very quickly
Broke out, downwards. Just gone long 2.16307
250 pips movement on GbpAud so far today and its not finished yet.
My long entry at 2.16307 is going well, 150 pips up already
After its big drop, GbpNzd has pulled back 80 pips in an hour.
[B]GbpAud[/B] is now sitting on a recently formed support/resistence level, around 2.18100 area. A move up should at least reach the overnight high of 2.19000, although Im willing to bet it reaches or passes 2.20000.
My TP is set at 2.26307 (for my 2.16307 entered trade, +1000 pips) and 2.21551 (for my 2.16551 entry, +500 pips)
No stop on either of these trades, NFP is today and even unconnected pairs like this can whipsaw on you.