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NZD/USD

  • #4,081
  • Apr 3, 2014 3:54am Apr 3, 2014 3:54am
Quoting fxtyrant
With the move we are seeing on the NZDUSD, you cant help but to wonder if the bullish move up last week was a fake breakout....
I agree, it's shedding a lot of pips at the moment

if we go pass and close below 0.85 then the bear should take over
  • #4,082
  • Apr 3, 2014 4:56am Apr 3, 2014 4:56am
kiwi emerging as a strong buy currently, I'd wait for H4 close though for confirmation.

entered strong support zone.
  • #4,083
  • Apr 3, 2014 4:58am Apr 3, 2014 4:58am
Quoting fxtyrant
With the move we are seeing on the NZDUSD, you cant help but to wonder if the bullish move up last week was a fake breakout....
Just watch this move from 8520 and where will go, depends on how fast it is i will tell if we go higher than 87 or no
  • #4,084
  • Apr 3, 2014 5:06am Apr 3, 2014 5:06am
Quoting Spik
Retrace to 0,851X was expected. We finally got there. Long 6 lots @0,8516. SL 0,8466, TP 0,8616 (1/3), 0,8641 (1/3), 0,8666 (1/3). RR 1:2 as usual.
good job... I was bought at level 8521 tp 8553​
  • #4,085
  • Apr 3, 2014 5:09am Apr 3, 2014 5:09am
I think, it is depend on today's close.
If we close below .8520 then it wouldn't go higher.
  • #4,086
  • Apr 3, 2014 5:18am Apr 3, 2014 5:18am
Quoting egkid
{quote} Just watch this move from 8520 and where will go, depends on how fast it is i will tell if we go higher than 87 or no
Hey egkid,

could you please expand a bit more on this? what are the reasons behind your view that it will bounce back hard?

thanks
  • #4,087
  • Edited 12:26pm Apr 3, 2014 5:38am | Edited 12:26pm
May be looking for a possible pullback on the AUD/NZD with some confirmation. Got a nice move up from 560 but we are sitting at the trend line with some inefficiencies down below.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Chart_AUD_NZD_4 Hours_snapshot.png Size: 31 KB
Click to Enlarge Name: Chart_AUD_NZD_Daily_snapshot.png Size: 30 KB
  • #4,088
  • Edited 8:41am Apr 3, 2014 6:38am | Edited 8:41am
Quoting palabara
{quote} Don't want to be "that guy" 3:1 Risk vs Reward is not a profitable strategy. You can have 20 wins and lose it all with 6 losses. It's just a difficult more way to trade cause it adds more pressure unto already a very heavy pressured type environment. I'm just saying.
I wouldn't state that as unconditional. RR 3:1 can be profitable, but:
- it is stressful (you have to be right most of the time ... win rate must be >80% if you count in spread), as you mentioned,
- you shouldn't overleverage it (if SL -60 pips means -31% then someone is waaaaaaaaay overleveraged),
- if market moves irrationable (sudden spikes), then you cash in only 20 pips if it goes green but lose 60 if it goes red.

Every system can be profitable, RR 3:1 also, it just depends on leverage rate and what you are comfortable with. I sleep best @RR 1:2 and small trade sizes up to 5% of account.

ONTOPIC: 0,851X support works quite well so far, looking at some green pips so far.
  • #4,089
  • Apr 3, 2014 7:08am Apr 3, 2014 7:08am
if the $ news takes this to the bottom of the channel on the 5 minute (around 0.8500) i will try a long 15p sl, if it breaks that its going further
Do what's right for you
  • #4,090
  • Apr 3, 2014 7:09am Apr 3, 2014 7:09am
Quoting Davit
{quote} Unless they cut the interest rate which is unlikely your projection is generous.
loool i don't think so , even they will cut the interst i'll be always with my swing the only think that will change is the target
  • #4,091
  • Apr 3, 2014 11:44am Apr 3, 2014 11:44am
Added Long Huge..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #4,092
  • Apr 3, 2014 11:46am Apr 3, 2014 11:46am
Quoting fxtyrant
With the move we are seeing on the NZDUSD, you cant help but to wonder if the bullish move up last week was a fake breakout....

Could be, but it could also be a shakeout
  • #4,093
  • Apr 3, 2014 11:48am Apr 3, 2014 11:48am
If it bounces to 86 I will sell it with vengeance with full lots.
Even 8570 will do the trick.This overblown cow needs trimming
In trading, you have to be defensive and aggressive at the same time
  • #4,094
  • Apr 3, 2014 12:15pm Apr 3, 2014 12:15pm
Yes, over leveraged trades hurt when they go bad, but they're nice when they go right. I'll take a nice ride up to 87 whenever the market's ready to stop kicking my butt. Good news I still haven't lost all of last month's gains.
  • #4,095
  • Apr 3, 2014 1:38pm Apr 3, 2014 1:38pm
Quoting jaws810
Yes, over leveraged trades hurt when they go bad, but they're nice when they go right. I'll take a nice ride up to 87 whenever the market's ready to stop kicking my butt. Good news I still haven't lost all of last month's gains.
yea dont get your mind fixated to view the NZDUSD to be bullish... looking at the weekly chart if we close the week today we would've had a bearish engulfing candle.
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #4,096
  • Apr 3, 2014 3:42pm Apr 3, 2014 3:42pm
NZDUSD shall go 0.8580 levels in Asia session..
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #4,097
  • Apr 3, 2014 6:14pm Apr 3, 2014 6:14pm
starting my short positions already
2x8549
limits
2x8580
2x86 bigger lots
In trading, you have to be defensive and aggressive at the same time
  • #4,098
  • Apr 3, 2014 6:44pm Apr 3, 2014 6:44pm
Quoting Davit
starting my short positions already 2x8549 limits 2x8580 2x86 bigger lots
maybe we r not see 86 today depends on type of wave correction but if that happen all ur position will b under water
take care D
  • #4,099
  • Apr 3, 2014 7:20pm Apr 3, 2014 7:20pm
Quoting egkid
{quote} maybe we r not see 86 today depends on type of wave correction but if that happen all ur position will b under water take care D
DD is part of my trading method.Its acceptable.(key is trading small)
86 may not get hit but if it does I am ready.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #4,100
  • Apr 3, 2014 11:19pm Apr 3, 2014 11:19pm
If NFP dissapoints, we could see 8640 area today
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusddaily.png Size: 29 KB
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