Nzd.usd

[peat]

wrong thread! hahah
well yeh maybe and obviously if you'd done it when you posted you'd be in the black now.
however it depends on time frames... equally it will make a good short again at some stage .

[Pumice]

Interesting article on DailyFX looking at the comparison of 2010 to the 87 and 29 crash of the AUD/USD.....
Might be drawing along bow on this one, but worth a read.
http://www.dailyfx.com/forex/technic..._on_Paths.html

[shambles]

For anyone that's interested, my friends run a currency strategy / report company.
You can find their daily and weekly reports ( free ) here http://www.fxmarketreport.com
They're pretty good at answering questions on FB too. http://www.facebook.com/pages/FX-Mar...3595351?ref=ts
Certainly worth checking out if you are making currency plays.
Cheers.. Shambles

[peat]

I had some fun trading both ways last night with two trades long and then closed and then two trades short and then closed. I did sleep too!!

[Pumice]

I had some fun trading both ways last night with two trades long and then closed and then two trades short and then closed. I did sleep too!!

Thats brave!
What sort of indicators do you use to set up trades in that timeframe?

[peat]

seat of the pants gut feel with micro wave counts - in that one there I saw a bit of a diagonal triangle and then a one-two pattern
I look for formations that give me a low risk entry point... and I'm not afraid to get it wrong as I do often.
I've been carrying on with it today with about another +70 net pips over half a dozen trades.
But yeh theres no clearly defined strategy so I guess that makes it vulnerable to a string of failures as well. Keep the trades small so I can sustain quite a few losses before it hurts. Obviously that keeps profits small as well but it keeps me in the game which is what I want.
But I have my financial advisor exams starting on Saturday so I really should be focussing elsewhere!

[Pumice]

I'm not game enough to do large trades. I do alright on the 5min, but only make enough to cover a few days interst costs on my shorts.
Still in for the long hall.
That bull flag you spotted way back turned into a false break by the looks.

Anyway what are your thought on the NZD for the next week/month or so?

[peat]

Yeh that flag looked good but was a sucker alright.... I tend to think that we've probably seen most (but not all just yet ) of this phase of USD strength (NZD weakness) and so sooooooon we'll see some return to strength or at least consolidation for Kiwi and Aussi $. But theres no evidence of it happening just yet.... and it is still better to short the rallies. I'm pretty bearish on the equity markets - with permanent short positions on S+P500 (but they too are oversold and will need to have a corrective rally soon) and lets be real here NZD is a proxy for risk so it goes where the S+P/DOW goes.

[Pumice]

Very true.
I agree the Kiwi is certainly oversold, but with the way Europe is going, it could go a lot lower. Especially with Gold booming to $1250 and the DOW well under 9800. Things don’t look particularly optimistic.

I’m standing aside from equities for awhile. Holding BP stock has been nasty.
Hopefully a fall in the NZD will help.

[Dr_Who]

I just went long NZDUSD today on China export numbers that is very positive.

Only playing with a very small amount, cos I am not doing much on the equities market.