[QUOTE=“eddieb;718142”] Doesn’t concern me. If price drops my buy won’t trigger. If it goes up, a 100+ pip move to 2.35 would make me confident it had bottomed out and was on the way back up.[/QUOTE]
Fair enough.
The 50-day mov. average I mentioned earlier is at 2.3350…
Coincidence, probably…
Anyway, nobody go long now 
I am out having a c0cktail 
Have a good weekend…
Sorry about your losses Shy, I really am!
Let us see what next week brings.
Watch how this pair swings as we enter September. There are some potentially big news events that could send the price all over the place.
A perfect storm would be ;
Fed raises rates
Kiwi lower rates
BoE vote moves closer to consensus for rate rise
No one needs to sorry about my losses but me bud, but thanks.
Have a good weekend.
Ps: the only one of my long-term trades that is going according to my bias is my FTSE100 short, currently at +197 floating P/L…
Have a nice weekend, everyone!
Have a nice weekenf, everyone.
The possibility of a rate hike by the Bank of England has helped the pound, but I still think the FED will move first.
I opened long position #4 on Friday at 2.3420. At one point on Friday I was down more than 750 pips total from the 4 positions. At the close for the week I was down about 550 pips.
Today the market had a big move upward during the first 2 hours after opening, taking me from a big loss to a good profit. I decided to reduce my exposure by closing my first 3 positions for a combined profit of 50 pips.
I’m still holding position #4, currently at +250 pips. I set a Stop Loss at +180 pips. So now my worst case scenario is +230 pips.
What a ride!!!
Hello all…
I woke up in the middle of the night, just in time, it seems, for this:
The Kiwi’s reaction was mixed…and inconclusive…
I am off to bed again…
Moving SL to 2.3720 for +300 pips.
Nice one Yohec
I got in at 2.35088
Out at 2.37180, not quite as good as Yohec but it’ll do me
Thanks, Eddie. You did very good as well.
I screwed up the exit order I placed before going to bed. Good thing I woke up in the middle of the night and closed the position manually. I exited at +240 pips instead of +300.
So the final tally for all 4 positions was +290 pips.
…I am still in negative territory with my long (now on the go for thirty-five trading days), but…
I closed my FTSE100 short just now, making about 300pips… I was meaning to let it run but my USOil long is a little late at moving forward, so I wanted to free up some equity.
If you read my commentary earlier this morning, you will have gathered that from the RBNZ Assistant Governor’s comments it looks like rate cuts are not a priority, as ‘macroeconomic prudential measures’ are seen as a preferable instrument to contain the Auckland housing boom to the rather blunt one of rate adjustments.
Whether this were to be positive for the Kiwi and for the Kiwi economy it remains to be seen, but certainly the short-Kiwi positioning, at this point, begins to look under threat.
Look at it going up again. It may retest the strong resistance at 2.4000.
I may be looking to place a short once it reaches 2.3950, with a Stop Loss around 2.4050. Let’s see what happens after the New York open.
Today sees the fifth attempt in twenty-eight trading days at breaking the 2.40 ceiling; however, we are only fourteen trading days from the next RBNZ rate decision, so a break of this level (and out of a wedge/triangle pattern) may be premature…
Just hit 2.4000
I took a short position at 2.3988. I set a Stop Loss at -100 pips.
As quickly as this pair moves, I will either be stopped out or in good profit within an hour or two.