FX:AUDNZD   Australian Dollar / New Zealand Dollar
80 25 4
Entered long on smaller time frame, price bounced up from the daily trend line . Stop is below trend line , target (long term) 1.1700
Comment: Stop loss 1.1100
Comment: Stop loss 1.1135
Comment: Stop loss 1.1150
Comment: Stop loss 1.1180
Comment: Stop loss 1.1200
Comment: Position closed at 1.1200. +100 pips. Still I will be looking to buy.
Do you think it will go further down?
Reply
ForexTrade ShauntheSheep
I think 1.0900-1.0860 is possible. But I will maintain a bullish attitude even then. I think on long term this pair has a good perspective to the upside. Question is when? His Majesty Market does not always do what I think. :) , that is why I am still waiting.
Reply
there is one thing, sir. I found audnzd and noksek are similar, bot of them seem move in a more predictable way...Do you think it is because they are very close and connected countries?
Reply
ForexTrade ShauntheSheep
Very good question, but I do not know the answer. Maybe we can figure that out together? I certainly will think about it and I will be thankful if you share yours opinion, sir. Thanks for bringing my attention to NOKSEK. I certainly will check
Reply
it is also a inverted head and shoulder...just like audnzd on monthly and weekly
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ForexTrade ShauntheSheep
You mean like this?
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yes exactly! and to long noksek the interest difference is positive.
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ForexTrade ShauntheSheep
I agree with you, but charts can be confusing. At this moment market is positive, but I see another option: (what do you think?)
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Well I think basically nok is following oil and sek is impacted by euro. My big picture is the bulls of oil, dollar and s&p 500.
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ForexTrade ShauntheSheep
Thank you! I never traded NOKSEK and your explanation is convincingly clear. In such case NOKSEK should be bullish.
Reply
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