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  • #101
  • Mar 18, 2015 4:24am Mar 18, 2015 4:24am
Just a friendly reminder, if you are new trader who is under 1-yr experience or who used to trade without STOP, these GBP pairs are probably NOT a good start for you. I will make this as a remark in the fist post later on.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #102
  • Mar 18, 2015 4:32am Mar 18, 2015 4:32am
Quoting FXSayWhat
Just a friendly reminder, if you are new trader who is under 1-yr experience or who used to trade without STOP, these GBP pairs are probably NOT a good start for you. I will make this as a remark in the fist post later on.
One here ...thanks for that FXSay
  • #103
  • Mar 18, 2015 4:44am Mar 18, 2015 4:44am
Quoting FXSayWhat
Just a friendly reminder, if you are new trader who is under 1-yr experience or who used to trade without STOP, these GBP pairs are probably NOT a good start for you. I will make this as a remark in the fist post later on.
i'll just say hope all of you guys speculating on longs prior have SLs already set and do not move them or you will be in a world of hurt, plan your trade set your SL and stick to it, do not move/delete it when price goes against you that's what its for.
  • #104
  • Mar 18, 2015 4:45am Mar 18, 2015 4:45am
Spread for GBP/NZD was exceptionally low...only spike 10 pips during the 530am announcements. I was definitely expecting 50 or greater, as usual. It seems there is no trading demand for now, even with High Impact news releases.
  • #105
  • Mar 18, 2015 4:53am Mar 18, 2015 4:53am
Quoting FXSayWhat
Good luck, guys. I am sitting this one out including tomorrow's FOMC.
Yeah, wise thing to do. Bad numbers from UK, the full effect might not come untill the FOMC release this evening.

Regarding the minefield metaphor; I just heard a click under my foot. Now I am standing still.....
Do not let the cost of being wrong, exceed the prize of beeing right
  • #106
  • Edited 5:08am Mar 18, 2015 4:55am | Edited 5:08am
News bomb just went off...
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GBPNZD - 130 pips south
GBPAUD - 128 pips south
GBPJPY - 120 pis south

Quoting Decima
{quote} Yeah, wise thing to do. Bad numbers from UK, the full effect might not come untill the FOMC release this evening. Regarding the minefield metaphor; I just heard a click under my foot. Now I am standing still.....
yeah the never ending rate hike talk will probably continue tomorrow.

Quoting dcavar
{quote} One here ...thanks for that FXSay
Yeah, i thought i'd put this note up just to give a first hand clarification on what might coming down on the new traders. These are some fun pairs to trade with, but you just gotta to be very very very careful and a risk plan is a must-have.

Quoting Coondawg71
Does anybody know of a highly positive or negative correlation for this pair? I would like to add this bit of information...I have noticed that since this pair is highly volatile, there is a link between the actual Bid Ask spread on high volume and price action. By that I mean high volume, high spread (50 pips and higher) and wide range bars are observed to serve as meaningful support and resistance when marked with horizontal markers on the top and bottom of the respective bar. Thanks, coondawg71
Coondawg71,

Try this one
http://www.myfxbook.com/forex-market/correlation
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #107
  • Mar 18, 2015 5:09am Mar 18, 2015 5:09am
yep, not pips, spread of Bid Ask, usually a big pop during these releases if there is demand. No trading demand, no pop. Most traders only look at Bid price, but don't check the Ask. Just like you wouldn't buy or sell at 5pm EST right....because of the huge spread at close. Doesn't take much effort to move these pairs in a low volume environment.
  • #108
  • Mar 18, 2015 5:13am Mar 18, 2015 5:13am
FxSayWhat....thanks for that link. Thank you.
  • #109
  • Mar 18, 2015 5:24am Mar 18, 2015 5:24am
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Perhaps this will help explain what I am referring to...Spread aka difference between High and Low of pips within a price bar VS. Spread of Bid price and Ask price of said price bar that your respective broker charges for entering the market @ Market Order price. Sorry for the confusion.
  • #110
  • Mar 18, 2015 5:30am Mar 18, 2015 5:30am
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  • #111
  • Mar 18, 2015 8:44am Mar 18, 2015 8:44am
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Interesting anomaly....negative Bid Ask spread minimum, Bid Ask spread maximum drops to zero....yet last two instances volume values registers these price bars as selling. Obvious algo driven mark downs?
  • #112
  • Mar 18, 2015 10:10am Mar 18, 2015 10:10am
GA almost at my level on daily where be watching for reversal. GJ broke TL and approaching key levels GN broke TL and approaching another GBP looking weak as stated much earlier.

Sincerely hope you guys that were long with large SLs earler in the week respected those SLs this could be a looooong fall, no trades for me until after FOMC though.
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  • #113
  • Mar 18, 2015 11:40am Mar 18, 2015 11:40am
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This is probably obvious to some, but I did a comparison of GBP/NZD vs the Cable using a Correlation indicator. Negative divergence of GN away from positive correlation shows up in a pretty obvious fashion via the indicator and price. Also used Williams Percent of R for confirmation. Williams % R also helps separate the two pairs strong vs week scenarios. GN shows up obviously strong in highlights #2 and #4 for shorting purposes. Since this pair is a natural short carry trade vehicle, I would think we are looking only for shorts. This image helps illustrate that theory.
  • #114
  • Mar 18, 2015 12:46pm Mar 18, 2015 12:46pm
lovely 4 hr pin bar forming, too bad techs mean nothing in about 15 min.
  • #115
  • Mar 18, 2015 2:02pm Mar 18, 2015 2:02pm
Kiwi (NZD/USD) has reacted very strongly to 2pm figures and Yellen. This is suppressing any further bullish behavior in part by GBPNZD. Pound is retracing a good amount of weakness display thus far this month offering some lift to this point. The 545pm Quarter vs Quarter GDP figure for New Zealand I feel will take some steam out the Kiwi. Further bullishness through the day/night into Asia is what I am expecting. Targeting 2.0250. Entered at 1.9896.
  • #116
  • Mar 18, 2015 6:52pm Mar 18, 2015 6:52pm
GBPNZD

Grab a quick 50-pip profit off the 2.000 level in Tokyo section.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #117
  • Mar 18, 2015 7:28pm Mar 18, 2015 7:28pm
GBPNZD

The post FOMC, Tokyo section 100 pips from 2.000 to1.9900.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #118
  • Mar 18, 2015 8:47pm Mar 18, 2015 8:47pm
GBPAUD 3/18/15 Tokyo Section Update

Is the 1.9300 finally giving up?
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Next stop 1.9000 before a possible bounce? I'd like to think so.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #119
  • Mar 18, 2015 8:50pm Mar 18, 2015 8:50pm
Quoting thegmann
GA almost at my level on daily where be watching for reversal. GJ broke TL and approaching key levels GN broke TL and approaching another GBP looking weak as stated much earlier. Sincerely hope you guys that were long with large SLs earler in the week respected those SLs this could be a looooong fall, no trades for me until after FOMC though. {image} {image} {image}
I'll just grab the bears while they are at it. No sign of reversal whatsoever as far as i can tell after the FOMC.
UK continue to weak, BOE is putting a hold on rate hike or QE.

Quoting wyley187
lovely 4 hr pin bar forming, too bad techs mean nothing in about 15 min.
That's correct.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #120
  • Mar 19, 2015 3:31am Mar 19, 2015 3:31am
Quoting FXSayWhat
{quote} Hey Idkurv, I am glad yo uare here. Yeah the GA pair seemed like getting some momentum and push upwards for more. There zones you marks are certainly within the possibility. Support would be at the 1.9250, technically speaking. Good luck.
Hi, thanks, sorry for my late reply, been busy with other job.
GA was rejected so heavy at 1.947sh and 1.943sh.
Currently around 1.932 - 1.935sh.
I think TP1 will be 1.94 and next 1.945.
Happy green pips!
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