This is for tiny sizes. I think that from here the GBPNZD will have a small reaction to the upside, is not a new trend upwards, especially if NZD becomes weaker. So, I am in at the bottom here at support..and waiting for signs.
Both are weak currencies. If you don't understand, then DO NOT TRADE this pair. It is VERY volatile with high pip spreads. Newbies.. do not trade this kind of pair. They stick with the majors, like xxxUSD orUSDxxx.
Both are weak currencies. If you don't understand, then DO NOT TRADE this pair. It is VERY volatile with high pip spreads. Newbies.. do not trade this kind of pair. They stick with the majors, like xxxUSD orUSDxxx.
Comment:
Comment:
took a position in GBPNZD earlier. I am not actively managing it because my stop is just over 100 pips away. Looking for a 1000 pip rally. Yes, I said it: a 1000 pip rally. If I lose, I only lose a little.
Given the strong downtrend line, I don't expect this to be a winner; but, if it does break about it, then the relief rally begins before the UK rate decision.
Given the strong downtrend line, I don't expect this to be a winner; but, if it does break about it, then the relief rally begins before the UK rate decision.
Trade closed: target reached
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Fundamental Risk: Today's event release can totally make or break this. However, if the release is bad, I think this is already factored in, given the Brexit. It is as though the fundamentals do not matter at the moment. Everyone knows that it is bad news for UK, it is time for covering. At least for GBPNZD a few 1000 pips or so. Like I said, this is a more riskier trade than normal.