GBP/NZD and GBP/AUD have been fun to trade the past few weeks. Following is my performance on these 2 pairs since the start of the year:
[B][U]GBP/NZD[/U][/B]
Positions opened: 18 (5 long, 13 short)
Results: 13 winners, 2 losers, 3 break even
Total profit: +1222 pips
[B][U]GBP/AUD[/U][/B]
Positions opened: 10 (3 long, 7 short)
Results: 9 winners, 0 losers, 1 break even
Total profit: +867 pips
Lately I have only been taking short positions. The levels I have been looking for taking a short are 2.1850 for GBP/NZD and 2.0500 for GBP/AUD. But I have been cautious because these two can make large moves in a very short time.
Yes, I’ve had a very good run on the 2 pairs. I need to continue to remind myself to remain patient and wait for the right time to enter the trade. I do not want to get overconfident and start giving back the hard fought profits.
Short GBP/NZD from 2.1845 after it looked to be stalling out at the 200HMA which has been containing the upside for the past few days. Stretching past the ATR too so worth a punt. Been a nice week and I’m not giving anything back to the market if I can avoid it so will move stop to B/E fairly sharpish.
I got stopped out at B/E. Price had gone to +60 and I had some work to do so moved stop to B/E and came back later to see price had popped back up and taken me out. Oh well… that’s the way it goes sometimes. Think that’ll probably be me for the week unless something clear pops up on the charts.
It is going to hit some strong support at 2.1500. Good luck to you. If it breaks out below 2.1500 it could go all the way to 2.1000.
I am short from 2.1850. I am going to be more conservative and will be looking to exit at 2.1600. I will also add to my position with a pending short order at 2.1950 in case it goes against me.
I closed half of my position at 2.1675 for +175 pips. Set SL for the other half at +150 pips. I’ll see how many more pips I can squeeze out of this trade.
I’m also leaving a Sell Stop order at 2.1940 in case it goes against me. And in case it makes a big move down, I will set TP at 2.1687. I’ll see what happens when I wake up.