On he 4hr chart based on NY close, the second lass candle for the day was a bearish pin bar rejecting both 8 and 21 EMA at a line of short term resistance, I think it’s got some way to go yet! I’m holding (but I got in on 19 feb at 1.83617 and I’m 249 pips up)
That being said, I completely agree with pip compounder about holding over the weekend if you weren’t up a stack of pips!
Which is right ?
Here you can see two 4 hour charts of GBPNZD showing weekly close from two different brokers. One is FXCM and another is NordFX .
Nordfx closed at 1.8191 and FXCM closed at 1.8105. Difference is 86 pips !
Which one is right and what is your close ?
Sorry. In Chart of FXCM close is written wrongly as 1.8191. Please read it as 1.8105
It depends on the server time for the 4 hour charts.
I prefer New York close charts (FXCM) that way you get 5 bars a week not a small one for Sunday night. My post relates to fxcm.
I like market scope (fxcm’s platform) the only thing I dislike about it is you can only view 20 symbols at once and that’s irritating to me.
4hr Chart from FXCM showing my entries.
There was a massive pin bar in line with the trend on the daily chart which is the reason for my second entry on this pair.
Up 438 pips.
the other possiblilty is if the NordFx closes the week earlier than the other brokers…look at the hourly charts. Some brokers close 1-2 hours earlier for the week, especially on micro accounts.
DJHENRY
4hr Chart from FXCM showing my entries.There was a massive pin bar in line with the trend on the daily chart which is the reason for my second entry on this pair.
Up 438 pips.
great trading! maybe next week it will continue down.
Hi Bijoymj I can’t seem to get this pair on my fxcm demo. Which platform are you using ?
Thanks Raj
Hi, how many pips do u suggest to place stop order ’ above and below’ this boxed range?
Thanks for this thread.
Good call Pipcompounder, looks like the Uk’s credit downgrading shook things up a bit.
(I worked out how to get the pair on fxcm.)
Hi Tortoise,
I’m glad you were able to find the currency pair you wanted to trade. If you have any other questions regarding your FXCM platform, feel free to hit me up in the Broker Aid Station.
Welcome to the forum 
Jason
This is a strategy that is simple, but also a bit difficult to properly execute. I am still out of the market, and have drawn a trendline on the last swing, so I’ll sell when this line is broken.
chart a.bmp (791 KB)
Again, this requires a lot of patience, trendlines can’t be too steep, you need at least one good retracement to draw a trendline.
Pip,
the last 2 4 hr candle is showing red. I’m waiting on the 3rd candle to see what happens before committing.
there will be Gb and Nz news 4 hours later. am curious what the heck it can do. I would watch for resistance areas also, not just the trendline.
good luck
Ended up the show resulting -150 pips loss.
But shorted at 1.8292 again based on
Closed trade manually with a +60 pips return
You did better than me…BE, as the price went down a bit, but then returned, and is now testing the upper resistance.
there’s been a war of words between the ECB and the UK about the UK’s position on staying in the EU. I think all this recent ranging has something to do with this. Usually the NZD and GBP are very correlated, and the pip value difference is what gives us those nice, long trends, but lately the pound has just been unraveling as far as correlation. I think if the UK goes back to agreeing to stay with Eu (which is honestly a longshot), then this pair may resume the nice, long trends, but until then, this ranging is going to keep biting us.
how are you pals? don’t you feel it’s time to buy? though I was stopped out several times. the 1.81 still seems appealing to me.
still cheap
You could buy, but the pound in general, against all other pairs, is really heading down, and there isn’t any fundamental reason for it to stop, it just hit a 2010 low against the dollar yesterday, and since the GBP\NZD pair still seems to be ranging here, I’m personally staying out.
Thanks for the answer, I like different views. yes, I have a pending order to short GU, at 1.53, a bit far, and considering it can run that way up, that can be longed too and market will decide. anyway, GN looks nice W bottom both on H4 and Daily, with the second Low higher on both timeframes. so, good luck on the catch up. still, it can be slow, if EG breaks north more than this. I would advise to buy EChf than:) nice day to all
