hope.bleecker
Long

Buying Pound New Zealand

FX:GBPNZD   British Pound/New Zealand Dollar
230 2 9
Have entered presets long at 204. Stop below 203.. running back to 212. Thanks!
Trade active: I've taken two of these off for 100 pips and expect a return to 204 again...only because Im suspicious we are coming back to 2.0 and this tends to trade with the dollar and Im a USD bear. Pull to break even on this.
Trade closed: stop reached: Came off break even pulled 200 pips off that one.
Hi Hope, like the idea except that i'm bullish on NU. Won't that mean GN will fall a bit as well?
cheers.
Reply
hope.bleecker VincentWhiting
Hi Vincent. It certainly can and probably will, but pound is on a bull retracement as well. This is largely a news related trade at past support, which is why the pre-set order from 204 (and the big spread during news). I did the break out from 20580 into the buy from 204 and now what I am doing is just holding it. If you are not in this, look for the bullish candlestick formation at the 204 level, break a trendline on the one hour and go long. We broke a higher timeframe trendline, so it should return north at some point. Whether it does it from here or from lower than 2.0 even is still a guess for me.
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