I would like to ask experienced traders to keep this going by posting screen shots and giving tips. Greatly appreciated!
anyone else notice it keeps making .382 retracements up?
You guys think it will break the lowest low ever or going finally start heading up? I think its trying to make a double bottom. Fingers crossed
surely the pound cant go any lower against the kiwi.I know its all doom and gloom (mostly) in the UK,but NZ is not all sweetness and light either even the govener of the bank of new zealand says the kiwi is grossley overvalued and is hurting exports.NZ seems to be lumped in with OZ by the world at large.What do others think?.OZ retail sales wernt encouraging last night and the nz employment is out later which might show a downturn ,so it will be interesting to see.:10:
The price is respecting the downward trendline, heading into a triangle, may get a breakout after a while.
I suppose you’re talking about the ENzd.
after it happens, what would confirm that if it’s a false breakout? if it would be.
Nope, only the GBP\NZD, which is the main pair of this thread…
The price is just now coming down from touching the trendline.
Than, what was the breakout you talked about?
I’m expecting it on EN.
On the GBPNZD, there is a downward trendline, and a lower, almost flat trendline on the lows, around 1.85000
As long as price continues to bounce between these, it will eventually get squeezed into an inevitable breakout, either below 1.85000, or above the downward trendline.
There will be a little movement until later on today. NZD news is coming out later on and GBP news will hit early tomorrow. I’ve been trading it back and forth but I’ve had enough fun and will wait for the clear trend. I hope up for a long ride.
Yeah, I am fishing for that long uptrend as well. The unemployment news sure did help a little. I think today’s LO will show us what it wants to do in a long run.
I’m not in it yet - but it looks like things are moving up now. I see all the GPB news coming up in a few hours. The expectation looks favorable indicating continued GBP strength.
What do you all think?
I’m staying out; not chasing or trying to conjure up a trade. Staying with the basic premise of this concept, I don’t see a clear break in the trend line yet. Drawing a trend line from the last high of Jan 11th and touching as many as I can on the way down, it doesn’t appear to me to be a clear break to the upside.
I think some of us are waiting to short on a double-top thing, on EN 
my order is at 6250. on GN, I wanna see how price makes it’s move, but I would expect a long from somewhere, not these days, but, whatever. if EG turns right, we shall see.
good luck on the coming days!
the bullish breakout from the triangle on GBPNZD is about 14 hours old as of this post. The triangle top would be on Jan 30, just for reference…some of you may have been zooming a bit too far out on the charts.
Here is a pic for you guys…
chartb.bmp (791 KB)
I do see on my chart that the last 6 4hr periods have been all up. But, it’s just now crossing the trend line I made, which I have going back to Dec 28th, but I am still a newb:
Interesting strategy…Moreover I have a relatively low spread on this cross (about 5 pip).
I am a newbie too but based on I drew the trendline, the cross closed is last 4h candle still slightly under the trendline:
I would strongly recommend zooming into the chart a bit, and notice how your trendine goes into the price structure on the left side of your chart…Trendlines always have to be drawn where they never pass through a candle body, as a general rule.
That said, you can exercise caution with the price in the area it’s at now, if you didn’t buy 200 pips below.
I got in this morning (after nabbing 20 on the eu/us overnight and another 50 on eu/jp this morning), now, wanting to protect some profits (as I’ve lost quite a bit in my micro acct) I’ve closed for a plus 41. I’ve got a good start today. In the last 24 hours I’ve made 128 pips. My best 24 hour profit yet! thanks for all the comments and suggestions everyone =)
