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NZD/USD

  • #1,321
  • Apr 11, 2013 1:21am Apr 11, 2013 1:21am
I think NZDUSD could test 0.8788 before it corrects itself. I'm short from 0.8645, so a drop from here would be good
  • #1,322
  • Apr 11, 2013 1:52am Apr 11, 2013 1:52am
Quoting Terraforce1
I think NZDUSD could test 0.8788 before it corrects itself. I'm short from 0.8645, so a drop from here would be good
Why shorting against the trend? Trying to pick a top when NZD trends is risky - better enjoy the ride. I had been burned by NZD a few times before I learned to respect its trends
Just look at up and down moves in your plot in Dec 2011 and May 2012. When this baby trends it goes the whole way)

I have just caught 120 pips shorting EUR/NZD. That beast is going towards 1.50, if longing against USD looks too scary
"Luxury is one of the basic needs", (c), Don Corleone
  • #1,323
  • Apr 11, 2013 2:03am Apr 11, 2013 2:03am
Quoting Firstboss
Why shorting against the trend? Trying to pick a top when NZD trends is risky - better enjoy the ride. I had been burned by NZD a few times before I learned to respect its trends Just look at up and down moves in your plot in Dec 2011 and May 2012. When this baby trends it goes the whole way) I have just caught 120 pips shorting EUR/NZD. That beast is going towards 1.50, if longing against USD looks too scary
For sure. Definitely not trying to pick a top

Just a tester short. My stop is at 0.8680. If it hits I have a Buy order that will trigger at 0.8680 and then ride it till 0.8788.

Cheers
  • #1,324
  • Apr 11, 2013 2:12am Apr 11, 2013 2:12am
Quote
Why shorting against the trend?

why ? I followed trend in april 2011 at same level .....

yes for eur/nzd i'm short since 1.2780 (november) with stop protect @1.2325 and TP @1.2120
  • #1,325
  • Apr 11, 2013 2:16am Apr 11, 2013 2:16am
Quoting pcca-matrix
why ? I followed trend in april 2011 at same level ..... yes for eur/nzd i'm short since 1.2780 (november) with stop protect @1.2325 and TP @1.2120
When the down trend forms - then it is safe to follow) At this time it's wishful thinking. I am not saying it can't turn down - we just have to see it happen first.

Quoting pcca-matrix
yes for eur/nzd i'm short since 1.2780 (november) with stop protect @1.2325 and TP @1.2120
Nice trade! But you meant AUD/NZD. I also scalp shorts in that pair
"Luxury is one of the basic needs", (c), Don Corleone
  • #1,326
  • Apr 11, 2013 2:25am Apr 11, 2013 2:25am
Yes on AUD/NZD sorry I'm so fixed on the graphics I just confuses ....

Im'in EUR/NZD too with Breakeven for now and no TP

Attached Image (click to enlarge)
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  • #1,327
  • Apr 11, 2013 2:28am Apr 11, 2013 2:28am
AUD/NZD is in fact an interesting and safe pair to trade. Mostly because the two currencies are coupled when external global forces - like risk aversion and risk appetite, JPY and EUR surprises - govern the trends.
AUD/NZD is a Forex safe haven in such times)
"Luxury is one of the basic needs", (c), Don Corleone
  • #1,328
  • Apr 11, 2013 2:36am Apr 11, 2013 2:36am
Yes AUD/NZD is a pair that I love when i trade manually, but my automated strategy is based on the strengths of currencies and aud and nzd are often side by side.

When a rare signal appears is usually for large move such as previous.
  • #1,329
  • Apr 11, 2013 2:39am Apr 11, 2013 2:39am
nutttttttttttttttttttttttttttttt NU nuttttttttttttttttt
Attached Image (click to enlarge)
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  • #1,330
  • Apr 11, 2013 2:53am Apr 11, 2013 2:53am
if you want you can see how the strategy works at this address
http://www.pcca.be/?page_id=2
(french website) click on "EA Control Pannel" links and you will have a control panel showing the operation of the expert in real time.


PS:This is not an advertisement, EA is not for sale but the control panels can be used freely it's been posted for traders friends from another french forex website for helping.

if it can help someone here
  • #1,331
  • Apr 11, 2013 3:20am Apr 11, 2013 3:20am
Quoting pcca-matrix
Yes on AUD/NZD sorry I'm so fixed on the graphics I just confuses .... Im'in EUR/NZD too with Breakeven for now and no TP {image}
Getting closer to a major support level. Better to bank 1/2 at this stage. Just my opinion. I closed 3/4 from my short.
  • #1,332
  • Apr 11, 2013 5:05am Apr 11, 2013 5:05am
Quoting Alanamc
Getting closer to a major support level. Better to bank 1/2 at this stage. Just my opinion. I closed 3/4 from my short.
Yep. That's what I'm waiting on before buying long term. To see if it does a retest. My Gann chart view of this pair.
Attached Image (click to enlarge)
Click to Enlarge Name: eurnzdweekly.gif Size: 66 KB
Time turns trend. - W.D. Gann
  • #1,333
  • Apr 11, 2013 8:24am Apr 11, 2013 8:24am
The Dow Jones has surged last 2 hours (again) makes me think we haven't seen the last of the strength for the Kiwi.
Money never sleeps...
  • #1,334
  • Apr 11, 2013 8:38am Apr 11, 2013 8:38am
I will be interested to see price reaction to 78.6, which is now clearly support.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd.png Size: 26 KB
  • #1,335
  • Apr 11, 2013 8:41am Apr 11, 2013 8:41am
kiwi is totally asleep this afternoon , the calm before the storm (fall) ?
  • #1,336
  • Apr 11, 2013 9:06am Apr 11, 2013 9:06am
  •  traade
  • | Joined Apr 2013 | Status: the market knows every move u got | 14 Posts
Quoting ForExtraPips
Yep. That's what I'm waiting on before buying long term. To see if it does a retest. My Gann chart view of this pair.
nice chart setup you have right there. I am curious if you applied any form of w d gann analysis before the downward move materialized. thanks
  • #1,337
  • Apr 11, 2013 10:24am Apr 11, 2013 10:24am
Quoting traade
nice chart setup you have right there. I am curious if you applied any form of w d gann analysis before the downward move materialized. thanks
Thanks. Whenever I draw up a Gann chart on the weekly, I just wait for price to get to a level on there and only trade the weekly open. I'll put buy stops and sell stops in, and let price come to me. Last week, when I did that, I got stopped out on my first one, just to see price reverse, and my other order got triggered. Then I was in profit. Notice now, where the wick is, right on the one line, (EUR/NZD), and where current price is at, right on the other support line. If I were to go long now, sure enough, price would reverse and I'd get stopped out. So, I'm just going to wait until the end of the week, and see where it closes at, then go from there with stop orders.

Another thing that I do, to look for a potential top or bottom on a pair is with fib ratios, mainly the golden ratio. Normally, a new trader comes to the markets, and tries out the fib retracement tool. The web sites or trading books tells the trader to connect a bottom with a top, in an uptrend, etc........ but what I do is connect a swing top with the next swing top, in an uptrend, to look for the next potential top out, when dealing with the golden ratio (1.618). (Thinking outside of the box type of mentality). And look at where price is currently at on the NZD/USD weekly chart below. I will be watching where it closes at the end of the week, then will be looking to short it below the golden ratio.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdw1.gif Size: 27 KB
Time turns trend. - W.D. Gann
  • #1,338
  • Apr 11, 2013 10:26am Apr 11, 2013 10:26am
waiting for a bounce in $NZDUSD either from 0.8626 or 0.8618, targeting 0.8680'ties
69
  • #1,339
  • Apr 11, 2013 10:26am Apr 11, 2013 10:26am
Quoting Pip Anon
No fundamental reason for a 74 pip spike unless they are clearing out orders. It's kind of silly. {image}
Kind of expected prior of US unemployment numbers release and it was assumed already negative hence easy profit taking for institutional money.
I am more curious for the next move.
Interesting to see how NZ central bank reacts next week.
In trading, you have to be defensive and aggressive at the same time
  • #1,340
  • Apr 11, 2013 10:44am Apr 11, 2013 10:44am
Quoting Likerty
waiting for a bounce in $NZDUSD either from 0.8626 or 0.8618, targeting 0.8680'ties
you could be waiting long time...perhaps another 3months or 3years
In trading, you have to be defensive and aggressive at the same time
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