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NZD/USD

  • #11,581
  • May 6, 2016 3:11pm May 6, 2016 3:11pm
major double top confirmed on NZD USD.

Suggested strategy: wait for a pullback and enter short @ 6940-50 SL 30 points TP 6740. details see chart below.
Attached Image (click to enlarge)
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  • #11,582
  • May 6, 2016 3:17pm May 6, 2016 3:17pm
Quoting asgcorp
major double top confirmed on NZD USD. Suggested strategy: wait for a pullback and enter short @ 6940-50 SL 30 points TP 6740. details see chart below. {image}
I agree with your analysis on H4 asgcorp. Personally for me, I call that shamelessly chasing the trend. My entry would have been around 0.6958 or so and I missed that.
  • #11,583
  • May 6, 2016 3:19pm May 6, 2016 3:19pm
Quoting ohyeah
{quote} I agree with your analysis on H4 asgcorp. Personally for me, I call that shamelessly chasing the trend. My entry would have been around 0.6958 or so and I missed that.
that's true, the only set thing now is mid-term top @ 7050. Current price structure on H4 proposes a very weak tripple bottom, which ultimately won't hold the price, however before price takes this out we need a pullback from the lows, it's a normal move to be expected.
  • #11,584
  • May 6, 2016 9:50pm May 6, 2016 9:50pm
Quoting asgcorp
{quote} that's true, the only set thing now is mid-term top @ 7050. Current price structure on H4 proposes a very weak tripple bottom, which ultimately won't hold the price, however before price takes this out we need a pullback from the lows, it's a normal move to be expected.
I am watching the time frame of the M15 along with the H1 in the NZDUSD to see what is the safe level to enter in the trade. It is quite possible that in the near term we will see some swing action coming into play in this pair.
FXOpen - International True ECN Broker
  • #11,585
  • May 6, 2016 10:57pm May 6, 2016 10:57pm
double top....bearish divergence....wait for the break and lower the hammer
Attached Image (click to enlarge)
Click to Enlarge Name: NZD.png Size: 111 KB
  • #11,586
  • Edited 7:05am May 7, 2016 5:58am | Edited 7:05am
double top, weaker NZD bulls, strong USD bulls after poor NFP numbers
I think it's time for the NZD bears' party

edit: expecting a pullback to 6904/08, confluence of (green rect) H1 EMA200/SMA200, previous R level, weekly pivot and fibo 38.2 a little lower.
pullback could extend to next resistance/fibo 61.8 at 6958

Attached Image (click to enlarge)
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  • #11,587
  • May 9, 2016 8:05am May 9, 2016 8:05am
Quoting Don96
{quote} Yeah I fucking closed out yesterdsg, wasn't sure about no it the news from US, would be close to +600 now aswell, but oh well here might be good for longs, 0.68341 and 0.6820x
wow​ how pissed am I
  • #11,588
  • May 9, 2016 8:11am May 9, 2016 8:11am
I'll look to short NU if it pulls back upwards to the DP. If not, I won't chase the price.

KP
Do your homework, follow the footprints of smart money
  • #11,589
  • May 9, 2016 4:12pm May 9, 2016 4:12pm
My view on Kiwi

NZDUSD made a perfect double top at 0.7050 and dropped like a stone after RBA’s statement last week.
It broke an important support at 0.6820 just today. I expect the current downtrend to continue.
Technically, after breaking the support at 0.6830, the downtrend is confirmed and there should be more selling pressure from now on. I will wait until the price pulls back towards 0.6830. This will act as a resistance, the former support.See my full analysis here
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusd short.JPG Size: 232 KB
HumbleTraders
  • #11,590
  • May 9, 2016 8:31pm May 9, 2016 8:31pm
I honestly think the Pullback has been negated by the announcement from the Finance Minister. Pretty sure that NZD/USD is going to be looking to test the lows for 2016. If you factor in the high potential of Aussie rate cut as well. And the Chinese overall struggling will put too much downward pressure in my opinion.
  • #11,591
  • May 9, 2016 8:50pm May 9, 2016 8:50pm
NZ Finance minister concerned over housing market looking to put more controls in with VAR.

The question remains if a rate cut is still on the cards ?

Only a fool would tighten loan conditions and drop interest rates at the same time.

This could be a temporary end of interest rate cuts for NZ if the housing demand doesn't wane.

Today however NZD looks soft but how amny times have we seen it come roaring back

More AUD/NZD profit takers could be the cause .
  • #11,592
  • May 9, 2016 9:56pm May 9, 2016 9:56pm
Quoting lasty
NZ Finance minister concerned over housing market looking to put more controls in with VAR. The question remains if a rate cut is still on the cards ? Only a fool would tighten loan conditions and drop interest rates at the same time. This could be a temporary end of interest rate cuts for NZ if the housing demand doesn't wane. Today however NZD looks soft but how amny times have we seen it come roaring back More AUD/NZD profit takers could be the cause .
Yes it has certainly squeezed my shorts out right back to BE at 1.0850
Waiting for a better opportunity now watching 1.0872 resistance...
Don't get mad, get even!
  • #11,593
  • May 10, 2016 11:50am May 10, 2016 11:50am
Selling Nzdusd. Weekly is still down and there is more move left to go down
trading on demo is not trading
  • #11,594
  • May 10, 2016 11:51am May 10, 2016 11:51am
Quoting enzo2325
Selling Nzdusd. Weekly is still down and there is more move left to go down

Are you sure?RBNZ Fin. stab. report coming and Wheeler speech.
  • #11,595
  • May 10, 2016 12:09pm May 10, 2016 12:09pm
Quoting gstup
{quote} Are you sure?RBNZ Fin. stab. report coming and Wheeler speech.
nobody can be 100% sure. Without Risk there is no reward. I usually trade the news and don't let it interfere with my judgement. Lets hope I'm right. Good luck
trading on demo is not trading
  • #11,596
  • May 10, 2016 12:15pm May 10, 2016 12:15pm
Quoting enzo2325
{quote} nobody can be 100% sure. Without Risk there is no reward. I usually trade the news and don't let it interfere with my judgement. Lets hope I'm right. Good luck

Good words!Good luck to you!And green pips!Cheers!
  • #11,597
  • May 10, 2016 1:59pm May 10, 2016 1:59pm
​Lots of activity above .6750. Position building possibly for shorts. Holding position
trading on demo is not trading
  • #11,598
  • May 10, 2016 4:13pm May 10, 2016 4:13pm
Ouch.With bad R/R and my 80 percent of my account gone.
  • #11,599
  • May 10, 2016 4:36pm May 10, 2016 4:36pm
Quoting gstup
Ouch.With bad R/R and my 80 percent of my account gone.
I took a loss myself. Unfortunately I glanced at my chart too fast while trading chfjpy at same time and didn't realize we were right at support. Dumb me and getting ahead of myself. I've had no losses for 2 weeks and got cocky. Stay humble and take your time.
trading on demo is not trading
  • #11,600
  • May 10, 2016 4:41pm May 10, 2016 4:41pm
Quoting enzo2325
{quote} I took a loss myself. Unfortunately I glanced at my chart too fast while trading chfjpy at same time and didn't realize we were right at support. Dumb me and getting ahead of myself. I've had no losses for 2 weeks and got cocky. Stay humble and take your time.
​I shorted from top of move up at 6816. up 20 pips so far. I still believe we are in a downtrend and that was a fake.
trading on demo is not trading
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