I took 39 and 63 (total 102)> If i had patience I would get some more, I trailed my SL to avoid losses.
I owe you a beer Yohec!
Sounds good.
GBP/NZD and GBP/AUD have been very profitable for me. But be careful of their volatility. Even if you trade the correct direction, it can easily go against you more than 100 pips before moving back in the right direction. If you set a SL too small you will certainly be stopped out. I started trading smaller positions so I can give the trade lots of breathing room.
You should also have a look at eddieb’s “Balls of Steel” thread for other high volatility trades.
http://forums.babypips.com/forextown/75743-balls-steel-trading-volatile-pairs.html
Testing 2.1400, SL at b/e
Quite the drop.
Long 2.117 with a tight 20-pip stop, TP 2.13
Hello!
Well, that met market expectation (swaps had a rate hike probability at 4%), and yet… the US Dollar got punished…
Now, this means, in turn, that all majors would have moved against the dollar, which also means that both GBP/USD and NZD/USD rose significantly; however, here is where I think that GBP/NZD is anti-Pound and pro-Kiwi: when negative Kiwi news hit the wires, they make the pair rally but it reverses; when negative news hit the Pound, the moves by this pair are longer lasting and sustained; furthermore, positive news for the Pound (such as we saw in this morning’s UK employment data) is brushed over and has no positive effect for GBP/NZD, whereas positive news from New Zealand is magnified.
I could give a few examples as to why I am getting the feel that the old fairly strict inverse correlation to the Kiwi has become mixed with an anti-Pound bias; you could say: “Brexit!”; indeed, that may be it, but it still means that this pair has no upside potential, given that the market has basically now discounted both the recent RBNZ rate cut and the negative global dairy trade auction data in favour of homing into any perceived negative sentiment on the Pound side.
We are witnessing a typical disregard of markets for ‘normal’ fundamentals in favour a desperate search for yield through carry trade, achieved here by selling Pounds in favour of Kiwi Dollars, thus earning overnight rollover through the interest rate differential…
Eventually, though, forward-looking markets will also realign to the inevitable fact that tge BoE is intending to raise rates in the foreseeable future whereas the RBNZ, high-interest as it may now be, is actively slashing its rate and giving no sign of wanting to stop.
My guess is that as soon as the BoE will make rumours that it intends to move, and give some serious backing to its words, the RBNZ’s high interest appeal will vanish in favour of Sterling…
In the meantime, given that the ‘Brexteria’ (=Brexit hysteria) has faded for now, how much more carry can be had from Pound selling? Perhaps we may have a really tedious three months of ‘chop’ in all Pound pairs, waiting for ‘the big day’ (the EU referendum)…
What do you all think?
Well, for once, I was slightly vindicated: the false rush of optimism on what was a no-change (QoQ) NZ GDP tonight gave way to a price retracement of that entire move 
Hello traders!
Since yesterday, the pair has fallen OVER 400 PIPS,
while GBP/USD has RISEN OVER 200 pips…
This pair should be called Kiwi-Kiwi, that is,
it only moves in favour of the Kiwi, even on
positive Pound developments…
Ridiculous…honestly!!
Bank of England
Rate decision
due
in less than TEN MINUTES…
Expected: NO CHANGE.
[B]Bank of England rate decision:
NO CHANGE
as expected.
Watching Cable (GBP/USD)…
No reaction, so far…
[/B]
The 30m candle for GBP/USD, 12-12.30pm
from open to close
measured
only…
…11
pips
:30::31:
Training to become an optician, PipMeHappy?
I am looking for special goggles to interpret current markets:
can you help?
I’ve got some beer goggles, makes those barmaids look damn pretty
Well, I will be out dining and wining tonight, so I will definitely experience some sensory alteration!!
At last, a bit of positive correlation to GBP/USD!
The thin blue line is the GBP/NZD price overlay…
Interestingly, the NZD/USD has been making a move to the upside today, so
it is even more remarkable (after what I was saying yesterday) that our GBP/NZD
friend should choose to switch correlation to a Pound-positive one…
Hmmm…
Discuss…
I’ve just closed my GbpNzd long trade for +200 pips
Woohoooo! Enjoy your drinks tonight!!
Hello peeps!
Well, GBP/NZD has opened the European session with a sharp drop…why? The Kiwi is still mid-0.67s, so no change there: this move was initiated by the Cable, as seen below:
There is an ECB speech going on but nothing has been said about the UK, nor is there any data coming out about the UK… This is ‘pure’ price action (if such a thing exists), one could say…