I like your approach, Barry…
I think the snowy air in Inverness has a lot to be thanked for when it comes to clearing the mind of noise!
I, like Yohec, am still in a heavily position-trading long from a while back… I am locked in for the long term,
come what may 
You, on the other hand, are free to swap sides at will, intra-day. Good on you!
Take note:
8am (GMT) today, Tue. 1st Dec.
Mark Carney press conference after
7am data release, see picture
(source: Bank of England website).
Only 33 minutes to go to the data release from BoE!
A bit of a long lie this morning & the charts have done me a solid with my short. It was a 30-pip stop so that’s about 7R just now.
Here’s hoping BoE doesn’t screw me over.
[QUOTE=“PipMeHappy;735687”] This is a solid run… Four hundred pips down since the start of the week… <img src=“301 Moved Permanently”/> How far will this go?[/QUOTE]
Yeah, it’s quite the drop.
I’m hoping that the brakes go on for 2.2500 as after the low of 2.2360 from 15th Oct, it’s another big drop down to 2.1000.
Yes, it really is a big unknown down there, sub-2.25, like an underground cavern…
Today we have the Global Dairy Trade auction… as the GBP has been pulling away and climbing from 1.50
to about 1.51 (even after the weaker PMI data this morning), all GBP/NZD moves are now in the hands of
NZD/USD, which has been pulling away from 0.65 and supra-0.66: should bad dairy trade data come out
today, we would see a sharp drop in NZD/USD and this is what would feed a GBP/NZD recovery…
The opposite is also possible, which would feed further movement toward 2.25 in GBP/NZD, especially
as Fonterra hopes to revive dairy markets with the unveiling of a premium milk powder at the auction today.
New Zealand Dollar Powers Ahead Amidst Concerns of a ‘Dead Cow Bounce’ in Dairy Prices
The article, published today, covers the relationship between dairy prices/supply and the Kiwi’s prospects,
also as the RBNZ rhetoric suggests one more rate cut this month.
An article to read, definitely!
THE RESULTS ARE OUT!
The sale showed an uptick of +3.6% !
It looks like it had no effect on GBP/NZD.
I do love this pair. Sell at 50%/resistance & aim for the low - easy money. I can see it going a bit lower but the days range so far is enough for me.
I’ve got my original short trade open too, I’ll hold that for 2.2500.
Well done!
Bouncing off your Moving average beautifully
Yeah, it’s holding up pretty well. GBPNZD is a pretty new pair to me but it appears that the 20EMA holds up better on the downside than when it’s bullish.
I’m also finding that you get deeper pullbacks when it’s trending upwards (50%-75%) where as 38%-50% Fibs works well for the Bears.
Just a couple of my observations, not to be marked in stone.
I reckon we’ll see 50% again here.
In six trading days we will have the RBNZ rate decision…
I think this will be well worth the wait!
“The RBA left rates on hold, and in New Zealand house p[rice inflation is up to 15% y/y, which is prompting a few questions about the odds of a rate cut at next week’s RBNZ meeting. The consensus looks for a cut to 2.5% from 2.75%,” SocGen adds.
[QUOTE=“PipMeHappy;735772”]In six trading days we will have the RBNZ rate decision… I think this will be well worth the wait! [/QUOTE]
Just to confirm my day counting skills, we are talking Wednesday - yes? If so, that’s super handy as I’m on a Fri-Tue shift at work this week & then I’m on my 5-days off so that would give me Wed, Thurs & Fri to concentrate more on trading. There’s 10 computers in the lab but only 3 staff in at a given time so I usually have charts up on at least one of them but I obviously have my actual work to deal with too so it falling on a day off is obviously better.
Nice one! Yes, Wed.9th, 8pm, Scottish time 
