Wow, how long were you in that trade? Or did you over risk?
Wow, how long were you in that trade? Or did you over risk?
That trade went about a full 24 hours if I remember correctly. I did not over risk but I had a real small Stoploss and a small profit target. But as price reached my target it was picking up steam so I let it run. Sure glad I did. If I remember that trade correctly it was in a tight range and I went short at the top of the range. Only looking for price to hit just below the bottom of the range but in stead price broke out and just kept on going. I wont call it lucky timing but I did not expect it to be that good.
On a side note I am going to drop a hint. It was about the same market conditions as we are seeing now. Last I seen my charts last night the kiwi and the aussie were ranging. I would look to short toward the top of the range as it is aproaching black friday here in the states and people are oging to be spending alot of money. Cashing out of stocks to pay for the holidays. So there is a good chance we could see a dollar rally and if thats the case we could have a repeat of that trade setting up.
Anyone here in a short Kiwi trade? Or looking to jump in? NZD/USD seems to be testing the trend line and there could be resistance at any of the Fibs.
Do you think the downtrend will continue? Or are we in for a midweek reversal?
Long time no see happypip. I do think this is a mid week reversal as my beloved Aussie seems unwilling to go to fair value this time around and has since rejected moving north about 100 pips. But I would monitor this as I see a fake out setting up. A trip to fair value looks almost inevitable and we both know how much these to pairs like to follow each other.
As Big Pippin pointed out, NZD/USD looks ready to pullback to the falling trend line, former support, and 50% Fibonacci retracement level.
Do you agree that the downtrend could continue? And will this potential pullback be my chance to catch some pips this week? I’d love to hear your thoughts!
Hey man! How’s it going? Do you think AUD/USD will stay below parity this time?
Yes, NZD/USD is on my 3-ducks watch list, I’m looking to sell when the ducks line up! :44:
The downtrend goes on…
I bought at 0.77620 :46:, sorry for bad quality, i’m having troubles with imgur lol
Honestly I am not sure. I think today will tell what the AU wants to do. Just got to sit back and wait to see the candle after the close. However considering the title of my new thread I do think I have to say what direction I am hoping for
Cool, saw your thread! Very helpful, I must say!
It does look like the bias is to the downside and I can’t seem to think of anything that could bring risk appetite back on the table for now. I’ll see ya around and let’s see how it goes!
Hey comdoll buddies! Check out my trade idea for this week and lemme know what you think:
There’s a falling trend line on NZD/USD’s 1-hour chart that extends all the way back to the last week of April so I’m hoping to catch the retest of this resistance level. I used my handy-dandy Fibonacci retracement tool to figure out where I should enter, and I noticed that the .7700 major psychological handle is close to the 38.2% and 50% levels.
However, I did note that stochastic is still pointing upwards, which means that Kiwi bulls could push this pair further up. Don’t worry, I’ll be waiting for this oscillator to reach the overbought zone and turn down before entering this trade. Once in this trade, I’ll set my stop just above this week’s top WATR and my target at the recent low of .7625.
As for fundamentals and risk sentiment, I do believe that the downbeat outlook for the markets could carry on, at least for the next couple of days. Although Greece already announced that they’d be having their elections next week, market participants seem to be pricing in the possibility of a Grexit later on.
Here’s what I’m planning to do:
Short NZD/USD at .7700, stop loss at .7775, PT at .7625.
I’ll be risking 0.5% of my account on this short-term trade and, if you’re thinking of joining me, make sure you read our risk disclosure first.
I’d love to hear what you think of this setup so don’t be shy to share your thoughts!
Awesome. Give me a heads up when you jump in!
Eep, missed my entry on this one as the pair simply broke down from its intraday range instead of retracing to .7700. But hey, at least I got the direction right.
Anyone able to jump in at market or short at the breakdown? Kudos to you!
Check out what I have for NZD/USD this week!
It looks like the Kiwi bulls are having a hard time getting past the 38.2% Fibonacci retracement level on the 4-hour chart. What’s more, Stochastic is in the overbought territory! It hasn’t crossed though. Will we see a continuation of the comdoll rally, or is this the last of a retracement?
Heads up, folks! NZD/USD seems to be in an uptrend these days as a rising channel formed on its 1-hour time frame. The pair just bounced from the bottom of the channel and appears headed for the top, which is around the .7700 major psychological mark.
It might be a little late to jump in a long trade and ride it up to the top of the channel, but a potential short trade at the top could be a good idea. What do y’all think?
The 15 Minuit nzdusd shows a level chanel with support at the top of the gap around 7580. Would this be a good buy to sell at the top of the Chanel at7640 or sooner at 76201?
Yipes, it looks like the channel already broke to the downside as of this writing. There’s a bearish divergence on the 4-hour, too.
Kinda new to this trading business, but what do you think about a test of the .9700 lows. It looks like price has broken down a good support area. I need the stochs to come out of oversold, before setting up for an entry.
Eep, looks like you’re in the wrong thread mate! But I did see your charts and comments on my AUD/USD thread (http://forums.babypips.com/audusd/39369-happy-corner-aussie-aud-pairs-24.html) and it appears to be headed much further south. Even way below the .9700 lows!