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NZD/USD

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NZD/USD

  • #11,381
  • Apr 22, 2016 8:40am Apr 22, 2016 8:40am
all support cancel imo
  • #11,382
  • Apr 22, 2016 8:51am Apr 22, 2016 8:51am
nzdcad daily
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  • #11,383
  • Apr 22, 2016 8:57am Apr 22, 2016 8:57am
Quoting alayinizAMK
all support cancel imo
agreed. learned the hard way, as usual.
  • #11,384
  • Apr 22, 2016 9:05am Apr 22, 2016 9:05am
Quoting asgcorp
not sure about 180+ on GJ but 170 is possible. but that's not very soon. 164.60 is quarter pivot, best GJ can do is re-test QP and get rejected there next few months. {image}

I totally agree with you. This is exactly going to happen. It will drop down to 0.64 eventually.
  • #11,385
  • Apr 22, 2016 9:09am Apr 22, 2016 9:09am
https://charts.mql5.com/10/973/nzdus...orex-com-2.png
this is what I have. blue line is next support I have...after that I've got the channel support for 4 hour. whats everyone think? (aside from messy)
  • #11,386
  • Apr 22, 2016 9:18am Apr 22, 2016 9:18am
Quoting FallingSky
https://charts.mql5.com/10/973/nzdus...orex-com-2.png this is what I have. blue line is next support I have...after that I've got the channel support for 4 hour. whats everyone think? (aside from messy)

I agree on your Support line. it would be around 0.68400's.
  • #11,387
  • Apr 22, 2016 9:33am Apr 22, 2016 9:33am
Quoting FallingSky
https://charts.mql5.com/10/973/nzdus...orex-com-2.png this is what I have. blue line is next support I have...after that I've got the channel support for 4 hour. whats everyone think? (aside from messy)
I don't see the momentum weekening on the hourly or 30min TF. Only slightly on the 15 minute. On the weekly, that pin looks like it wants to be filled next week to test the high or make a new high. Depends on how it plays the Friday close.

708x - 711x will be my first HH target. But that this point, unless NU loses steam, looking for lower than my initial 6835 target.
  • #11,388
  • Edited 11:15am Apr 22, 2016 10:10am | Edited 11:15am
Quoting Marioa01
{quote} Don, are you looking beyond 682x?
well I closed my short out +58, target was 0.6850, 0.683xx may be a good shot at a long with a stop just below 0.682xx I'm out of NU for now so not doing too much extensive analysis on it atm
Edit: number I have is 0.6836, low printed 0.6833 atm, currently +15

LL and you may have a shot at 0.67xxx

could actually be in for 0.60xx - 0.595xx min atm, providing 0.707xx isn't taken out
  • #11,389
  • Apr 22, 2016 10:17am Apr 22, 2016 10:17am
Quoting FallingSky
{quote} agreed. learned the hard way, as usual.
move sl tight along with price, and don't accept any negative outcome once you are in profit
it hurts once in a while when price goes right back again after exit but it wont bother you too much after a while
  • #11,390
  • Apr 22, 2016 11:28am Apr 22, 2016 11:28am
closed NU short at 6838 for +57 and UC short for -32. Probably done for weekend
  • #11,391
  • Apr 22, 2016 11:36am Apr 22, 2016 11:36am
Quoting asgcorp
can't really call this setup atm a reversal pattern. ))) {image}
guys wake up already 3 black crows on daily ain't a bullish pattern.

damn yous still going long hard out.
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  • #11,392
  • Apr 22, 2016 12:07pm Apr 22, 2016 12:07pm
Quoting asgcorp
{quote} look that's fine everyone is entitled to have their own opinion. bull market right? So do you have a target on the long side for this bull market? Is it 7500 8000 8500? My take is clear on the charts and I will reinforce it once again. NZDUSD is not going to trade above 7050 this quarter. We will push / max out close to 7050 and then sell off hard to 6500-6600. There is no bull market in NZD USD period. No fundumentals support this claim. Put 7050 on your chart and watch this level next few sessions. {image}
ok now since we've topped out on NZD USD I expect price to arrive @ 6500-6600 shortly. Not much of a pullback will be offered as the trend shifted to strong downtrend mode with this daily pattern.
  • #11,393
  • Apr 22, 2016 12:09pm Apr 22, 2016 12:09pm
was very "surprising" to see EU sell off from the top of it's 2 year trading range this week and then dragging commod currencies in the drain pipe with it.
posted that a while ago elsewhere.
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  • #11,394
  • Apr 22, 2016 12:11pm Apr 22, 2016 12:11pm
also commods turning into bear mode especially silver topping out and gold breaking H&S on daily, do you think this is bullish or bearish for commod currencies overall? I'm short silver and looking @ silver trading @ 14 USD/ounce shortly.
  • #11,395
  • Apr 22, 2016 12:18pm Apr 22, 2016 12:18pm
EU sell off really surprising since we had maxed out 80% volume cluster for 2015 peak @ 1400. wow that was unexpected.
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  • #11,396
  • Apr 22, 2016 12:51pm Apr 22, 2016 12:51pm
Quoting Marioa01
{quote} Don, are you looking beyond 682x?
​also I forgot to ask, which timeframe? as in which timeframe did you set your trade based on?
  • #11,397
  • Apr 22, 2016 12:52pm Apr 22, 2016 12:52pm
I'm not trading this pair atm but from my point of view there's still an intact upward channel with higher highs and lower lows...
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  • #11,398
  • Apr 22, 2016 12:55pm Apr 22, 2016 12:55pm
we had a few traders going long NZ here but somehow they are gone already.
  • #11,399
  • Apr 22, 2016 12:57pm Apr 22, 2016 12:57pm
Quoting asgcorp
we had a few traders going long NZ here but somehow they are gone already.
0.683x was not a bad place to long could be + 20 already and close partial or b.e sl...
  • #11,400
  • Apr 22, 2016 1:00pm Apr 22, 2016 1:00pm
guys look I don't want to dissapoint anyone in here )) but the volume atm is on the sell side in EU/AU/NU so what's the point fighting the mounting selling pressure?
I don't see any upside at all in AU / NU meaning that we will go straight down pretty much next week, a very minor chance of a pullback of >40 points now.

Risk/reward is just not there for the long trade now. Just go with the flow.
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