ooops…
Your instinct was right, though… just the timing of it …
‘Timing’: the ugly word of trading.
GbpNzd long again 2.199 while the price seems to be turning again on the small time frames.
WOO-HOO!!
Here we go!
Keeps bouncing back off 2.2100,
See what happens overnight
[B]Going up![/B]
GBP to NZD Defends 2016 Gains, Now Forecasting a Test of 2.24
So it seems… I will not breathe easy until it has gone past 2.30, though
BOOM!
150 pips up!
… a day trader’s dream!
SL in place at +100 pips
NFPs in focus, and the ADP data earlier this week point to an upward surprise, which equals a down move in NZD/USD and an up move in GBP/NZD…
That suits me as I’m short on the former and long on the latter
It looks like I was right…NFP beat expectation, and pushed GBP/NZD past 2.22!! You must be happy?
Delighted, now at 2.2250. I have a SL in place plus a buy limit a little further down in case we retrace, as usually happens
…and it happened!
135 pips banked, now back in again for less than my previous SL
Grown my account by just over 10% today, very happy.
Have a nice weekend everyone, I’m going to have a few well earned beers!
Absolutely!
Enjoy!
A good first week!!
[B]GbpNzd, whatever next???[/B]
Take a peek at the H4 chart for this pair. What do you see? Higher highs and higher lows since Christmas! It must be going up, mustn’t it?
But hang on, now look at the daily chart. Holly molly, its a clear down trend, what shall we do?
I know what I’m doing, sitting on the fence until a clear move one way or the other. I may miss a few hundred pips, but at least I’m limiting my risk.
Now, what will you do???
Forgot to say, GbpAud is in exactly the same position. Key difference here, at least for myself, is that I’m already in this pair so will have to ride the storm if it goes against me.
Happy pip hunting
For Kiwi traders, Tuesday is a big day as it begins with the Dairy Auction for Whole Milk Powder. Also on Tuesday we have China GDP, Retail Sales, and Industrial Production figures coming out. Bad news across these could negatively impact both the Kiwi and the Aud, so keep your eyes on these
Well, the pounds taken a bit of a beating today, thanks in part to Cairney implying that a BoE rate hike is on the back burner for now