Jesus Chribus!
(Changed one of your verbs; I hope you don’t mind).
Well, take it easy…
Maybe you’d like to tell us how you are positioned with the Loonie and Crude Oil? I am guessing you
were long USD/CAD…?
I’m down -100+ pips on a GBP/NZD short taken on friday. Should I hold tight or cut my loss now before it grows? Not sure, looking for some advice.
I took a short yesterday at 2.0980. I was down -100 pips for several hours. I closed the position an hour ago at break even.
The downtrend continues to look strong. I was worried about all that empty area all the way to 2.15 without any strong resistance levels. You also have the RBNZ interest rate decision tomorrow. I decided to sit it out and not take a chance of a big move against me.
I’m long USDCAD from 1.4. not in Oil but I blame it totally for supplying the viagra to CAD to shaft me
Just searching out my own supplier to get my own back :8:
It’s just bad timing, there is a squeeze of sorts on GBP though reasonable to be bearish, but what caused you the biggest problem was Fonterra’s announcement on prices - just after you went long NZD.
I’d say the knee jerk reaction will fade as the week progresses - more on Fonterra’s twitter page, scroll down to the announcement.
Use a 5 period moving average…get in, get out. Get in, get out. Get in, get out…no guessing.
3 open trades,
Short GbpAud 120 pips up, 70 secured with SL
Long AudUsd 50 pips up, 20 secured
EurUsd 35 pips down
Both hit SL after the RBNZ announcement, +126 pips total
Rising Risk RBNZ May Cut Rates Below 2% – Market
2123 GMT - The Reserve Bank of New Zealand isn’t done cutting the official cash rate, Capital Economics says. Despite lowering the OCR to 2.25%, the tone of the RBNZ’s statement suggests further easing will be necessary to reignite inflation and bring it back into the central bank’s target range. “Interest rates will therefore soon fall to 2.0%, and we expect this will drag the New Zealand dollar down to around US$0.60 from US$0.68 now,” says Paul Dales, Capital Economics’s chief Australia and New Zealand economist. He believes RBNZ has clearly been spooked by the recent weakening in the outlook for the global economy, the unwanted strengthening in the New Zealand dollar and the plunge in various measures of domestic inflation expectations. “The first and last of those factors mean that the risks are still on the downside,” he says. Timing of the next cut of the OCR? Either of the meetings in late April or June, Dales says. ([email protected]: @dwinningWSJ)
Interesting!
Thank you!!!
Next Global Dairy Trade event: 15th March 2016, followed by FOMC rate decision and press conference
on 17th March!!
I wont be trading on March 17th, it is St Patricks Day and I’ll be necking the black stuff :41:
Maith an fear.
Estarei em breve em mudança para a Ilha Esmeralda! Bom saber que havera traders com bolas de aço lá! Não estrei sozinho…
Also I find they trade technically well. They come across as less muddled than pairs like EUR/USD and it’s more straightforward to apply a technical template of looking for S&R zones, previous highs/lows, etc. to gauge entries.
I’m out of everything at the moment though. Waiting to see what unfolds with Draghi. Market seems to be wanting more than a good chunk of the ECB board thinks they need to do right now so could get interesting.
ECB throwing a bit of everything at it. Wasn’t expecting that though my tracker mortgage is grateful - long live low ECB rates as far as I’m concerned.
Long UsdJpy at 112.87
It stalls, it forms spikes, it ranges for a long time, that pair is only a source of frustration.
I agree…and I wonder why the EUR/USD thread seems so popular, like this pair was anything to get excited about…