GBP/NZD moving slow today? Why?

Trading Discussion
384

Here is the answer: it was just a brief rally…

Screenshot_2015-08-28-09-52-02.jpg394×700 27.1 KB

There are only nine trading days left to
the BoE and RBNZ rate decisions, so I
would wait until then for renewed trend
development…

I maintain a bullish bias based on fundamentals and
also technicals, so this latest round of bearishness seems to me to be lacking any strength or conviction.

Tempting as it may be, shorting this pair is unsuitable in the long-term (although, on a shorter-term basis, there have been and may still be opportunities to short it profitably).

Good luck and keep your cool, fellow peeps!

Happy trading.

385

Agreed, Eddie!

386

GBP has now gone back to pre-announcement levels against both NZD and JPY. This happens so often in Forex, so glad I dont use tight stops

387

Lisa Sanat’s article makes a lot of sense to me:

388

Look at those 2 massive 1 Hour candles of 120 pips.

I was hoping for a big move up so I could close my positions before the weekend at a profit. Now it looks like I’m going to have to hold until next week.

08_28_15_GBPNZD_H1.jpg660×700 43.1 KB

389

With any other pair, movements like that would be mental but on this pair it’s just ranging.

390

Hello traders…

Please bear in mind that we actually have six (not nine) trading days worth counting, up to the RBNZ rate decision, because the LSE will be closing its trading on Monday 31st August (bank holiday) and the NYSE will do the same a week later (7th Sep. is Labour Day)…,

Also, the RBNZ rate decision will be the night before the BoE one, not on the same day as I had read.

391

[B]Hello traders,

here is my new video on GBP/NZD:

https://www.youtube.com/watch?v=BfvpGxfHipE

I hope it may give you some ideas, in case you were feeling stuck in a rut…

Good night, and have a good Sunday.

Happy Trading.

[/B]

392

Pip I will watch as always. Hopefully theres a little recap in there. The week is a big blur for me.

393

Hi 3fx, was your day job keeping you busy?

394

No I made a trip to ER. and then found out I have a bouncing baby girl15 yrs old In didnt know about.
If I was working I think I would have been useless lol

395

Ah that felt good to get out!!

396

Your daughter was in the hospital and you did not.know about it, or you did not know you had a daughter :stuck_out_tongue:

Jokes aside, that sounds like a cracking day ;p

I was out on a field, sunbathing, snoozing, and shuffling around town most of the afternoon!

397

Lol no I had a seizure on sat last week and then tuesday I had a daughter i didnt know about.

398

Im here in what I like to call Gods waiting room (fla) she in NJ. I feel a road trip coming at least I have my days free

399

showing a worsening NZ business confidence… (Previous: -15; expected: -7; actual: -29).

This is the 5m candle, reacting to the news:

Screenshot_2015-08-31-02-02-07.jpg394×700 26.5 KB

Now I really AM going to bed…

400

I took advantage of the spike and closed 2 positions at 2.3985. Position #1 for -36 pips and position #2 for +66 pips.

Position #3 is still open, but I have placed a SL at 2.3920 to lock in +100 pips. I don’t know if the price will be able to break and hold beyond the 2.4000 level tonight. Nice to be able to lock in some pips before going to bed tonight.

401

I closed position #3 at 2.4020 for +200 pips.

I am now all out. Profit +230 pips for all 3 positions.

Good luck to those that are still in.

402

Very nice, keep the faith.

403

Hi all.
Ive just started a new thread, Balls Of Steel, where I’m hoping we can explain how we trade this pair and also expand it to cover other pairs as they become volatile.
Would appreciate any input you guys want to make.
Cheers