IvanLabrie
Long

GBPNZD: Interesting contrarian trade

FX:GBPNZD   British Pound/New Zealand Dollar
196 17 10
We can look to enter a long position with a partial risk allocation now, and increase it once my time at mode downtrend time target is reached.
If RgMov finds supports, like I expect it to, this will be a very good entry.
Trade closed: target reached
In 5hrs from now there is a NZD trade balance release that could bring 100-200 pips move. but i m still on long side based on my idea, will wait for long entry on this.
Planning to Buy between 1.925 -1.935 - Based on Bullish BAT
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It'll probably work. I'll wait to see what happens, my entry will be after today's close.
I reccomend a buy stop over today's high, with a 1-3 atr stop under today's low. Risk: 1%
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IvanLabrie PRO IvanLabrie
Gap down open, then gap fill...looks bullish.
Placed buy stop as depicted in the chart above.
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Significant support was found, interesting. Highest low still intact. Entry not triggered.
There's time for NZD to weaken further, which will happen soon (2 more days max).
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Quite the rebound!
Highest low taken, new uptrend?
I expect to hit at least 2.01048 in the coming days.
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GcNaif MOD IvanLabrie
yeap, even i m expecting the same target. If all goes well then the horizontal small lines are targets i will looking at
snapshot
+1 Reply
NZD weakness is real:
AUDNZD: Elliott Wave speculation
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Nice move, I'll move stops to break even now.
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GcNaif MOD IvanLabrie
even i did move my stops to break even on gn trades
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It's a higher risk play than my other trades, same as euraud, a very early entry. I'd rather be at BE now and wait.
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snapshot

Nice rejection from the support level, and now bullish price action with two days where buyers are in control (if today doesn't extend to reach new lows that is, which looks like it won't).
I'll buy a retracement if we see a strong range expansion day today.
Interesting GBP data coming out today, and BoE's Carney speaking.
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As expected today was a strongly bullish day, right at the time at mode downtrend expiration.
Will watch for an entry long again.
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Same as eurcad, timing corrections is easy with time at mode.
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Looking for a short entry to ride the correction now.
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snapshot


Rgmov is signaling an uptrend, but a correction has started.
I'll look into buying the dip.
Horizontal levels are strong support/resistance areas, which funnily enough match fibonacci retracements here.
Keep an eye on these.
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You are a GOD
+1 Reply
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