I would have missed your new video had you not mentioned it in this post. I had not seen the new thread you created where you posted the link. I’m now subscribed to your Youtube channel.
I agree with your analysis of the 2.3000 level on GBP/NZD. If this support holds, it should go on to the previous highs. It will probably hit some resistance at the 2.3500 level.
My economic calendar does show Governor Wheeler’s speech coming up later today, as well as some news from AUD a few hours later. News tomorrow from China but no time is given. Note that BOE’s Gov Carney is talking tomorrow and it is listed as a red 3 mark event.
GBP/NZD has broken past 2.32 through the Asian session last night, and it did so for the first time since the 4th November, when it swung to 2.34 before crashing down the next day on a dovish tone from the Bank of England.
This time there is nothing scheduled for the rest of the week that can disrupt the pair’s overall uptrend resumption, bar unforeseen capital flow toward the Kiwi (unlikely).
With the US markets reopening after Veterans’ Day, added liquidity should provide better fuel to feed this (and other) trends.
It looks like the next trouble area on the move up will be the 2.3400 level. After that, it should be a clear shot all the way to 2.4000. Note how these levels are spaced about 600 pips apart.
Of course, news from the UK or NZD could easily derail this train.
GBP/NZD was never on my watch list but I had a peruse through this thread & EddieB’s Balls of Steel one the other day. I watched the charts a wee bit, tested the water & have made 10% gains in 2-days.
I think that it might have a permanent place on my charts now.
Good work here guys, especiallly you, PipMeHappy - keep it up!
Oh, so difficult, no wonder I couldn’t figure it out. LOL.
I actually have an account with Oanda. Maybe I should check the tools that they have available. I only use the Oanda account to live test new strategies and systems using very small position sizes. I don’t want to put too much money at risk trying new things.
I did it on my iPad, switched to another app briefly & went back to edit the Fib levels & the chart had reset to EURUSD so I lost it, thankfully I managed a screen grab before hand though so it’ll have to do the job.
My order missed the low of the day (so far) by 1-pip, one single God damn pip. I got in at 2.3264 on the 5mins chart off the 20EMA & I’m sitting pretty with profits locked in.
My current problem is SL placement: do I stick it just below 2.34 or give it space to breathe & go for below the 50% Fib (5mins chart again) which is in line with a previous high? I’m currently at the latter but obviously if the move doesn’t hold, it would be better at 2.34. The 20EMA looks like it will line up with 2.34 so we’ll see how it reacts in the next 30mins or so.
