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!
Hey guys!
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!
Whoops. Looks like trading is not the only thing I’m new at -apparently posting on forums as well. Yep, looks like it followed through. Expecting a pullback here.
Look, it is pulling back! What levels are you watching for a possible trade?
Double snaps to Big Pippin for spotting my third comdoll setup today! Just I thought that the pair would break above .7600, the falling trend line actually provided enough resistance! Anyone planning on trading a breakout? I’m watching this pair too!
now is above 0.7660…! missed it!
Let’s give another round of happy snaps to Big Pippin’ for pointing out this divergence + trend line play on Kiwi:
I guess this means I should hold on to my long NZD/USD swing trade then?
The pair found support at the .7700 major psychological level, which was right in line with the trend line and just enough to close the weekend gap. With price making higher lows and stochastic making lower lows, a bullish divergence has formed, hinting that NZD/USD could be headed further north. The next area of interest seems to be at the .7800 handle but, for the sake of my long trade, I’m keeping my fingers crossed that it heads much higher than that!
Are the Kiwi bulls taking a breather? On NZD/USD’s 4-hour chart is a rectangle, which, according to the School of Pipsology, is a possible sign for a continuation of a trend. The question is, are the Kiwi bulls done pushing the pair higher, or are they just taking a breather?
After bouncing a few times off the .7850 minor psychological support and finding resistance near .7900, NZD/USD seems to be stuck inside a new range for the week. Stochastic is pointing down, which means that another test of .7850 might be in the cards. Will it still hold this time?
