Didn’t realise that, buddy. Can understand your recent frustrations at some of the illogical behaviour in this pair
Yes, it is what is, I just have to stretch my time horizon indefinitely… It is frustrating, more than I thought, at this point… It will be interesting to see what happens to risk trends…
You must be pleased with your trading, I imagine?
Apart from EurUsd, which continues to rise, I cant complain. Getting more consistent as time goes by, no longer overtrading, and avoid the news, so progress in general
The rising Euro troubles me but it will not last…it is short-term speculative positioning, lacking the kind of fundamentals that made the Euro downtrend from 1.40 to 1.05 in 2014… The main fundamental divergence is still in favour of the USD… Just like the main fundamental drive (long-term) in Eur/Gbp is still in favour of Euro selling, in spite of its recent rise to that long-term supply at 0.80… And that is also why I am still long GBP/NZD, even after all this time… Fundamentals are long-term themes, and the Euro even after.fourteen months of ranging with USD, is still (in my mind) a sell… The question is one of timing, and how comfortable we can be with waiting.
Hello peeps!
So, in the last 12-14 hours,
the following happened:
NZD/USD: down about 50 pips;
GBP/USD: up about 50 pips:
GBP/NZD: up about 200 pips.
The wonders of this pair will continue to puzzle us all!
PipMeHappy,
I noticed that you are long with GBPNZD for a very very long time, It is true? And why you do not realise and begin a new long from now? Are you training like buddha or something to achieve an illuminated patience?
I would like to have a microscopic bit of you confidence and patience! 2 or 3 days in red for me is disturbing, cause this I finish a lot of trades loosing money but I’m still winning.
Do you think that it will go up soon? why?
Hello Hendrik!
Yes, my target is 3.0, so it is a long-term position… I thought we would get there sooner,
and indeed the drop down to nearly 2.0 was not part of my vision, but it does not alter
the positioning, so while I accept that the positioning could have been better, the reward-risk
I am aiming for should still achieve between 1:1 and 1.5:1, more or less.
The time issue is a big unknown, as my target was a six-month move, but I have now adjusted
to at least a year, so to August 2016, at least.
Uk services PMI better than previous+expected, but Pound struggles to find motivation to move much, whereas BoE FPC talks this morning may be behind a sharp and sustained FTSE100 drop from the 7am Frankfurt Börse opening today.
NZD/USD has made a definite and strong move back below 0.68 and today, 12pm-2pm (GMT) there will be the Global Dairy Trade auction in Auckland, New Zealand, so it may or may not be yet another negative result, with obvious effects (bearish or bullish) on the Kiwi…
Hope so, im long GbpNzd at 2.1000
Still waiting for the results of the auction… Keep refreshing the page…
COME ON!
ABOUT TIME (ABOUT AN HOUR AND A HALF LATER THAN USUAL)!!
RESULTS ARE OUT:
+2.1% …
GBP/NZD drops about fifty pips in one go… heading toward 2.08…
Will 2.08 hold?
I hope you did not get stopped out, Eddie…
Nope, still in. The way I see it, there is now limited downside on this pair remaining (It has fallen from 2.50 as you are aware). Just need to sit tight a bit longer. If it fell below 2.00 I might pull the plug.
Good plan!
Yes, I am …ahem… ‘aware’ haha
I was proper busy at work today but I had the chart open on the computer in the corner & was keeping an eye on it.
I ended up getting a really good short entry at 2.0933 with a 40-pip stop. Still got it open & aiming for 2.0650.
with a forced smile and a bleeding heart,
i wish you a profitable short gbp/nzd trade
:32:
Best luck for you my friend! I’ll be watching this pair for a long, but I have to do this in another account cause in my day/swing trade account I simply CANT watch a position longer than a week or two. Maybe if I open a new one wich I do not check every 4 hours I’ll be able to sit down, relax and wait!