Yeah. It’s been a strong short bet on here 301 Moved Permanently since it appeared on the set up radar a couple of weeks ago.
Thanks wyntac. It was certainly a good spot, I was too busy marrying settling down and having kids with the long trade 
Hello traders…
And we have now seen GBP/NZD drop 1,300 pips (more or less) in ten trading days, taking it down to the 100-day moving average level (2.32)…
Tonight’s Asian session may be vital for direction at this point, and the RBA rate decision may indirectly provide some fuel…
Indeed, and I know the feeling…
In my video, which I posted in a separate thread this afternoon on Forextown,
I talk about how trends have dried up for some of the currency pairs (and other
asset classes, like equities)…
GBP/NZD is stagnantly back to a level, unable to rise past 2.46, or below the 100-day
moving average; its originating pairs are faring no better, with the GBP/USD (as I said
in my video today) stagnating back to its May 2015 levels and the NZD/USD having
a false run up without much volume behind…
I imagine that continuing Kiwi bearish bias is now becoming a less straightforward
affair for traders, and I am living through these doubts since the latest Pound weakness,
and even reading that the GBP/NZD is forecast to rise to 2.56 by the end of 2015 does
not completely return my unwavering confidence in this pair’s upside potential - something
that two months ago I had questioned within myself as ‘chop’ began to appear around the
2.40 - 2.45 area (but which, at the time, seemed to indicate an area of accumulation in
preparation for the next leg up)…
Now, more than ever, I will need my ‘Buddha thighs’ well and truly in place to sit tight and
not get into a panic about immediately ditching my long-term strategy.
What do you think, UK Kev?
I have watched some positive news come in for GBP and nothing very positive for the NZD, having said that the pair has simply ignored levels to get back to where we are. I do feel it is trawling the bottom now and the often unnoticed lag in price action following news feels about right. I have hedged my positions, but the negative aspect of that with this pair is that it can jump quickly and leave you stranded. Having said that I got myself into this and I’m prepared to work hard to get myself out. I have done it a couple of times in the past and it is part of my higher than normal risk strategy.
In brief I feel we are close to the return of the bulls, but how many stop runs we will see before that is anybodies guess.
Even some the pundits are starting to comment how strange this move is !
Yes, I know what you mean…riding through big moves when you are in a trade is not easy, especially when you trade alone and you alone are in charge of managing your trading rationale and risk…
Good luck, anyway
Not much to do at this point but wait for it to turn around. I’m going to sit on this one for a while and look at other opportunities the markets offer.
May the Troika be with you!
I, UK Kev, and you will have to be patient and ride the storm our to harbour…
PS: bring sea-sickness pills ;p
Theres the hit on the Daily 100SMA
Indeed, and for the second day in a row (yesterday’s low, and today’s candle)…
Make or break time: tonight’s Asian session.
Now don’t laugh at me 
Im searching for fib lines and this SMA hit, nails the 38.2 Fib from the full move including (China Monday wick) from April 21 (any port in a storm )
No it is good to find a safe haven when the ship is lost at sea
Let tonight be docking time.
[B]The Tokyo open [/B](11pm, UK time) has not really achieved much; one hour later, and the pair has risen thirty pips and fallen back about twenty, therefore making very little progress…
Bed time for me…
Let us see what tomorrow brings.
All eyes on Thursday for the [B]Bank of England rate decision[/B]…
Morning!
Well, it sliced right through that moving average and went down by a further150 pips…
We are nearing the next (and final?) ‘line in the sand’: 2.30…
Risk is certainly on currently, I’m not sure what will change this, but my hands are firmly sat on
Two things that she is making clear:
-
next demand zone down is 2.30;
-
NZD is heading up.
Tonight’s dairy price updates, she adds, will be key for Kiwi direction.
As UKKev says: time to watch and sit on one’s hands…
GDT came in at 9.9% yesterday, so she was pretty accurate with her assessment and direction. Some great UK news in this morning. The confusion continues
Good evening, traders…
The Sep. FOMC meeting minutes were released tonight at 7pm (UK time), and GBP/NZD produced a bearish five-minute
candle worth two hundred pips, piercing below 2.30 and touching 2.29.
Currently, price is piling on top of 2.30, and this ‘line in the sand’ is looking under threat… Interestingly,
the NZD/USD has seen a four-hundred pip rise in the last trading week, with increasing volume bars, so there is
strength in the Kiwi… NZD/USD is currently just at the 100-day simple moving average, which is around 0.6660…
Failure to break above this level would pose the question of NZD/USD commitment to appreciate, given that the RBNZ
rhetoric and actions have been down-grading and down-talking their currency to sustain and revitalise ailing exports…
Is this a market move ignoring fundamentals? Is it a ‘technical move’? Whatever happens, it will of course impact all
Kiwi pairs, but in different ways… The GBP/NZD has been punished by a bearish GBP/USD of late: would a Kiwi retreating
from its 100-day moving average realign the GBP/NZD’s correlation to the NZD/USD and push it up again?
All questions that we are yet to answer…