GcNaif
Short

Short to catch the pips on CD leg of this ABCD

FX:GBPNZD   British Pound/New Zealand Dollar
148 8 5
Update 4/5/15: closed the trade at 2.0220 / Shorting this with 90pip SL to get 350+ pips . i will add more shorts if the price closes below the rectangle .

Either i will be stopped out or i will get at least 600+ pips in 2 trades.
I am a Chart Slave.Thank you TradingView and @nmike.
Nica521
2 years ago
What do you think of the daily stochastic in oversold and there is a missed weekly and monthly pivot at 2.0550.

My thoughts are that its going to go down to 2.0288 because there is a daily pivot for today just showing up and then bounce off around here to spend the next 2 - 3 days going to the 2.0550. After that i think it will bounce off the downtrend line to head to head to your target D. What do you think?
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GcNaif MOD Nica521
2 years ago
thanks for ur message, nfp could help , i know i am risking 80 odd pips , but this pair has history of creating surprises and its due for some down move
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jangseohee
2 years ago
snapshot
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GcNaif MOD jangseohee
2 years ago
Thanks jangseohee
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Nica521
2 years ago
I agree - this can be a tricky pair, especially when its making a reversal.
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jangseohee
2 years ago
zoom in
as you can see the important median line (shown in arrow) serve as resistance so far
If MACD and RSI can break their respective resistsances, then it doesn't look too good to short
on the other hand, if MACD & RSI gets rejection from their respective resistances, then you are in good hand
right now it is a 50-50 to me
snapshot
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GcNaif MOD jangseohee
2 years ago
Thanks for those lovely observation and explanation .
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jangseohee GcNaif
2 years ago
YW GcNaif
i am just sharing some view, and i could be dead wrong :-)
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