Ouch…
SOrry to hear that!!
Maybe you should wait for the BoE rate decision (tomorrow) and/or the RBNZ one (23rd July) , or even the
BoE minutes (22nd July) before deciding what is going on… and then there is also Greece…
THere may well be more attractive pairs… who knows…
Good luck!!
PS: just for reference…
http://www.dailyfx.com/calendar/bank-calendar.html
This is the 2015 diary of all scheduled Central Bank releases
for the major economies (Canada, New Zealand, United Kingdom, etc.)…
Good evening, traders… I am about done for the day and will be going on holiday for the next twelve days, so no Forextown for me until I am back…
Speaking of the GBP/NZD, it looked like it may spring back, but after a non-event for the BoE rate decision (=hold), there was no pick-up for Sterling and GBP/NZD dropped another hundred pips, to 2.27… The pair has shaved off about 800 pips this week, after spending twelve weeks(!) in continuous appreciation, rising about 4,200 pips!!
Let us take things into perspective: in one week, the pair has lost about 1/5th of what it had gained in twelve weeks! On the
other hand, for a pair that has averaged 300 pips per day, this is normal… What we should do is to halt any buying for now, and wait for price to regain footing for its next leg up… we can all agree that price never rises in a straight line!
Happy trading!
Seems to be back on the up again, time to dip my toe back in, methinks.
Long at 2.2931
Yes, it has gone up four hundred pips since yesterday… Approach with caution!!
Profit locked in
Stop hit at 2.3100 for almost 170 pips
Well done, EddieB!
Good morning, traders!
Disappointing UK jobs data flushed the Pound pairs
and GBP/NZD was no different, dropping about eighty
pips…
However, the drop occurred at around 2.34, which
means that it has recovered recent losses.
I closed a buy trade on my demo account just under
the 2.34 level, minutes before the UK data release,
and bagged 109 pips… I will not go long this pair
on my live account until the 2.34 has been secured
by a reasonable margin…
Anyone else trading the Kiwi?
Remember that tonight there is NZD CPI data
coming out, and that Syriza is meant to lead the
Greek parliamentarians to vote the new austerity
measures in: at the moment, GBP/NZD is the fastest
mover, with NZD/USD creeping feebly downward and
NZD/JPY resisting further losses (this Yen cross is
very much responding to the temporary risk-positive
move that came from the Greece agreement at the
weekend, which saw the S&P500 bounce back to
the 21,000 level)…,
Im not in at the moment but keeping an eye on it, just a bit worried at this level
Hey PipMeHappy,
It seems you have some good knowledge on this pair, I was wondering how are you going to approach this pair with the RBNZ rate/statement coming next week?
It looks like there is a good chance to get some big profits coming in so I’m preparing for it now
Well, having won all those pips on demo, I went long on the live account and just closed with about 78 pips in profit… The pair has currently secured both the 2.34 and 2.35 levels, and is just above 2.36…
For the RBNZ statement, I would either not trade or prepare entry orders either side of current price before the news…
Just got in at 2.36700, 50 pips up in 2 minutes with sl in place
My sob story, I had a pending order for just above doch channel. I usually trade .20 to .30 lots.
So I check my charts and I see all those pip ,I go look at profit its 8. whaterever, im like what the heck I didnt change the volume and its was set 1000k. wish I can blame it on rookie mistake but I cant.
I think I need to be ridiculed to get over it lol
ugh
3xfx, we all make mistakes. A couple of weeks ago I clicked Buy instead of Sell…a very tetchy few minutes waiting for a reversal so I could get out
Hope it worked out for u and u didnt get too hurt.
Wow it just broke the 2.37 mark, had my short set @ 2.34
No, I got out with 2 or 3 pips profit luckily
Good glad to here that ed.
John,
