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NZD/USD

  • #6,001
  • Jun 26, 2014 11:26am Jun 26, 2014 11:26am
NZD/USD is very close to Weekly R 2 Pivot. Also R2 Day Pivot in same place.


Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh4 piv 2.png Size: 48 KB
  • #6,002
  • Jun 26, 2014 11:33am Jun 26, 2014 11:33am
Ask yourself this. Would you stand in front of a train?
  • #6,003
  • Jun 26, 2014 11:46am Jun 26, 2014 11:46am
Quoting Rizmeister
Ask yourself this. Would you stand in front of a train?
if I was superman... aka the USD yes...
  • #6,004
  • Jun 26, 2014 11:50am Jun 26, 2014 11:50am
Looks very bullish at the moment. If we take out the last high, we will see 0.88 before any retrace.
  • #6,005
  • Jun 26, 2014 11:58am Jun 26, 2014 11:58am
I think tomorrow will see the number 86600, was now bear kiwi
  • #6,006
  • Jun 26, 2014 12:07pm Jun 26, 2014 12:07pm
Quoting ben82
{quote} Pray, Trade balance come bad data

Definitely O_o that mean it has to go down.
Stay Hungry Stay Foolish
  • #6,007
  • Jun 26, 2014 12:11pm Jun 26, 2014 12:11pm
Quoting Forexgogo
Thinking about going long NU. So much space above .875. Once it gets there, nothing can stop it going up and up... Anyone?

You are right (even though, you are traiding against my direction), but it's too early and too late to go for long now. if i was you, I'm gonna wait for tommorows trade balance.
agree?
Stay Hungry Stay Foolish
  • #6,008
  • Edited 1:26pm Jun 26, 2014 1:10pm | Edited 1:26pm
Quoting Nik13
{quote} you are traiding against my direction
Look at the daily chart. I am following the beautiful uptrend from last August. To me, it is crazy to go short at this critical area, seeing this chart.
I'll go long when the price goes up, comes down to 0.875, then bounces upward. If it happens, the price might keep going up until NZ gov comes in around 0.900.

All shorts are dead by then
  • #6,009
  • Jun 26, 2014 1:15pm Jun 26, 2014 1:15pm
Quoting Forexgogo
{quote} Look at the daily chart. I am following the beautiful uptrend from last August. To me, it is crazy to go short, seeing this chart. I'll go long when the price goes up, comes down to 0.875, then bounces upward. If it happens, the price might keep going up until NZ gov comes in around 0.900. All shorts are dead by then
  • #6,010
  • Jun 26, 2014 1:38pm Jun 26, 2014 1:38pm
Quoting Nik13
Bears in action hope this pair will be down as hell when I wake up tomorrow {image}
Ah, the smart money positioning update. Thx!
Fix up, trade sharp ...
  • #6,011
  • Jun 26, 2014 3:07pm Jun 26, 2014 3:07pm
Quoting Forexgogo
{quote} Look at the daily chart. I am following the beautiful uptrend from last August. To me, it is crazy to go short at this critical area, seeing this chart. I'll go long when the price goes up, comes down to 0.875, then bounces upward. If it happens, the price might keep going up until NZ gov comes in around 0.900. All shorts are dead by then
FF journal: Peaks and Troffs
  • #6,012
  • Jun 26, 2014 3:27pm Jun 26, 2014 3:27pm
Ladies and gentleman, stop loss hunting season on NZD officially opened. Enjoy!

Next target 0,9000

Long term target parity with AUD and USD.

RBNZ talks crap as usual. If they want lower NZD, they wouldn't rise interest rates.
  • #6,013
  • Jun 26, 2014 3:29pm Jun 26, 2014 3:29pm
Hello NZ

Well if it hits 0.88 will be 3 short under water

least all up here nice in high

but this 0.90 talk is a tad concerning

I been caught so many times longing at the top

of the mountain.

I won't do it this time

tempted to change pending to 0.884 to 0.86
  • #6,014
  • Jun 26, 2014 3:41pm Jun 26, 2014 3:41pm
Quoting eliteincome
Hello NZ Well if it hits 0.88 will be 3 short under water least all up here nice in high but this 0.90 talk is a tad concerning I been caught so many times longing at the top of the mountain. I won't do it this time tempted to change pending to 0.884 to 0.86
This sort of talk always happens in this forum haha. Don't pay heed and do your own research.

Key in these critical steps is risk management. However, one thing to note is that shorting near such a nice round number target as .8800 is very tough and I hope you don't go in full size. Best idea to do is following:

1. Do you think price will go down?
2. If yes: Choose two points where you believe price shows that the uptrend is over, one above one below. Logical ones may be .8835 (all time high in 2000s) or on the downside .8749 means its below the trend line.
3. If no: Choose one point you believe price shows the uptrend will continue: Do you believe if NZDUSD clears .88 it will spike enough that you will immediately bag 15-20 pips and then be able to ride it out with a stop at breakeven? If that's the case there is your order level (say .8805).

Main thing to remember is your stop both in price (at what level is your initial decision wrong) and time (how long will you hold this until you have had enough...very important with a pair like NZDUSD where on a short you bleed 1pip/day ).

At the end of day none of us know and that's what makes this game so much fun. Remember, it takes two opinions to form a market. Crush it gents.
  • #6,015
  • Jun 26, 2014 3:48pm Jun 26, 2014 3:48pm
If a high NZD is supposedly so damaging to exports, then why is NZ reporting the best trade numbers in decades?
  • #6,016
  • Jun 26, 2014 3:51pm Jun 26, 2014 3:51pm
Hi Mahras

Good post

To be fair 99% of traders lose money over time

The 1 % to 3 % who can nut things out great

Shorting at the top would be safer bet for the 99%

of traders who screw things up.
  • #6,017
  • Jun 26, 2014 4:08pm Jun 26, 2014 4:08pm
Quoting eliteincome
Hi Mahras Good post To be fair 99% of traders lose money over time The 1 % to 3 % who can nut things out great Shorting at the top would be safer bet for the 99% of traders who screw things up.
99% of traders do not lose.... Lol why do people post bogus statistics
  • #6,018
  • Jun 26, 2014 4:13pm Jun 26, 2014 4:13pm
To make themselves feel better.

After all, if you're a losing trader, it's nice to think that 99% of other traders lose as well, right?
  • #6,019
  • Jun 26, 2014 4:48pm Jun 26, 2014 4:48pm
Quoting Rizmeister
Ask yourself this. Would you stand in front of a train?
I will tell you a secret...

To make money in this business you MUST be out of this train (full of sheeps)...

Its called "countertrend trading"... the sooner you get it the better for your pocket.

Venceremos.
The good thing with the future is that it is progressively approaching...
  • #6,020
  • Jun 26, 2014 5:33pm Jun 26, 2014 5:33pm
Quoting Rizmeister
{quote} 99% of traders do not lose.... Lol why do people post bogus statistics
Gidday

In the first 2 years of trading most traders lose more than make.

I am just pissed that I closed longs in NZ to early

NZ can go another cent,but the safer trade would be 0.88 0.89 to 0.78 etc
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