Thanks @justshell! Haha. Well, I try to grab as much as I could, but I still miss out on a lot of good positions. I saw that you’re doing great yourself! Haha. Good luck to us this week! And I’ll be anticipating this NZD events in case I decide to open a new trade.
Although the green candle from yesterday went back to being red, today’s candle is looking pretty bullish. Since I decided to tighten my stop, I would’ve gotten stopped out if I wasn’t able to exit my trade last night. I’ll probably wait a while before I go in again.
How about you guys? Any open trades?
No prob! and yea, things get easier day by day. But, NZD is looking bullish right now,NZDJPY is looking nice right about now
Oh boy! Have you seen that recent huge red candle? I was planning to go long since it was still a green candle when I checked it out this morning. I came back to open a trade and BOOM Wow. Good thing I haven’t gone in yet!
Good morning guuuuys! Rainy morning from the Philippines. I still have a cold, but I’m feeling so much better now. Haha. I hope you guys stay healthy! (It’s also my fault for skipping on my vitamins. Haha. )
Anyway, did you guys see that HUGE RED CANDLE for NZDCAD? I need to know more about it so I’ll probably scour the net and the forums to find out what happened with that.
Good luck to us today!
@ria_rose Hi Ria, good to see you are still here
The RBNZ cut the interest rate and it proved a surprise, hence the big NZD drop:
Also, there is a strong correlation between dairy prices and the Kiwi Dollar: your chart starts from the beginning of May, and if you look at the Global Dairy Trade auctions (held every two weeks in Auckland, NZ) since the.second half.of May you will see a lot of negative results:
(See: GDT Events Results » GlobalDairyTrade )
The last thing to look at is dry milk (powdered milk) futures quotes, from CME, as NZ is a massive exporter of dry milk to China (to make baby milk):
In this screenshot from May onward, it is almost impossible not to notice the strong resemblance to the NZD chart that you posted, with the added information of real volume (bars at the bottom of the chart) showing intense selling matched by strong down-trending.
The source was the 2019 September-expiry non-fat dry milk CME Futures contracts, which you can find here:
I hope that this will help you a little bit
PipMeHappy
Thank you so much for these @PipMeHappy! Yeah it’s been a while since we last got to talk, but I’m super happy you dropped by! How are youuuu?
I kinda had an idea about the interest rates cause I read some articles about it, but I absolutely didn’t know about this. I think I might need to check these other commodities out if I wanna know more about trading the kiwi. Thanks again!
It’s another rainy morning from the Philippines! Haha. Hi guys. I know I’ve been quiet right after the dip in NZD, but I really meant it when I said that I felt like it was best for me to stay away from the markets right now. I feel like for experienced traders, they’d be able to manage a lot of potentially good setups for the recent events, but I’m not sure I’m there yet. Haha.
But as I’ve been told by my friends here before, sometimes, not taking a trade is the best trade. Haha. But for you guys who have open positions, good luuuck! I hope you grab lots of pips!
Just checked out my NZDCAD chart and for me, it’s still pretty unpredictable.
Might really be best to get back to opening new positions next week. But at least, we got a win this week too! Haha. Yay for the small victories.
@ria_rose You are welcome!
I made a few vids about NZD here:
They are 3-4 years old now, but maybe some/part of them may be useful.
Agreed, staying away from trading is hard, especially if you are trying to grow a small account.
Wooow. These are a lot of (surely helpful) videos PipMeHappy! I’ll look for the ones on NZD over the weekend and maybe I could also check out the others once I’m done. Thank youuuu!
Yeah. There’s this feeling that you’re missing out. And I used to hate it. But I’ve come to terms with it now. I’d rather skip a few trades than blow up my account due to my urge to open positions during choppy times. Haha.
@ria_rose You are welcome…I am not sure which one talks about the global dairy trade auctions…
Anyway, now you know!
I just posted something about Kiwi trading
on the main Trading Discussion forum, @ria_rose, which you may find useful.
PipMeHappy
Happy happy Thursday everyone! Haha. I’ve been gone for a few days and I now have lots of notifications! Haha. I missed you guys too. How are you all doing?
I’m suuuper proud to share that I’ve been going to the gym lately. HAHA. I’m trying to really live a happy and healthy life. Any tips for that? Haha. Anyway, I’ll also go to the gym today in a few hours. BUT I’ll definitely be back and update you guys!
Good luck to us for what’s left of the week!
Hi guuuuuys! Happy happy Monday morning! I’m suuuper excited for this week because this week is my birthday week! Haha. I can’t wait to feel so old again. Tbh, I still don’t know how I want to celebrate it (or if I wanna “celebrate” it at all.) I guess I just wanna be with my friends and family, and that would already be a good day. OH! Plus a winning trade please! Haha.
Good luck to us this week guys. May the pips be in our favooor.
Speaking of winning trade I’m hoping this one’s it! Haha.
I initially thought that NZDCAD might be bullish over the weekend, but when I checked this morning, looks like price is still on its way down. I put my SL @ 0.85847 just at the top of the previous two candles. For now, my TP is also @ 0.84150.
I’ll update you guys about how this goes.
Obviously right now I’m still in the red. But I’ll check on it again in an hour, and see how it’s doing then.