NZDUSD Short
I’m short after the 800sma consolidation breakout on the 1h chart. SL .7250, PT .7155
What are you watching/trading? Did anyone catch the E/U breakout? I’m still wathing the G/U and the U/CAD with enthusiasm.
Be good to you!
Triffany
About Triffany
Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
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I am long CADJPY and usdjpy……… took a few PIPs from usdcad flat now
Thanks for heads up! I took a small position…… hoping it will rebound enough to add …
thanks Triffany
Triffany,
Nice set up. You are an expert with this pair, I should watch it a little more often.
I see we have a lower low on the 1 hr, a nice close below the 200 and the bottom should fall out.
Question: as usdcad is stuck in a long narrow range, it builds a case for explosive breakout…. What are some key triggers? If the usd rebounds it takes gold further into a neeeded retracement. Oil is also a factor….. What are some other possibles? Which is the stronger influence – gold or oil?
And if Bernanke takes a tip from Wholesale prices…. will he tip his hand that ultra low rates will end some day?
Look forward to some wise thoughts…….
Well, I think the big trigger is going to be the FOMC rate decision tomorrow. Though its expected stay stable at .25% what will be important is the markets perception of the conversation surrounding the rate decision.
The Hawks are watching increasing prices, and the Doves will be listening for any view on stabilization and/or growth.
As far as Bernanke tipping his hand, he’s already said that he wants to end the era of of the itsy bitsy rate value as soon as possible. What we need to listen for now is…what will he be looking for as his trigger? My guess is jobs.
In terms of Oil v Gold for the CAD. Oil, definitely oil. What we’ve been seeing lately is a divergence of sorts with Oil slightly rising and gas slightly lowering. This could mean that Oil is about to stabilize again which would give the CAD pause enough for the USD to make some gains against it.
Triffany, Wow! look at the GU 15 minute chart….663 candles below the 800 SMA Plus a bonus of a smaller box of 86 candles inside the larger range. Yes. I am watching.
Triffany, Your analysis is super! Thanks…… Not sure when the FOMC release. But it fills me with some fear and trepidation….. because I have great profits at the moment. Did you read the King report on jobs? He claims, and I believe his is spot on, that BLS will revise the jobs data more in line with what was expected….. I have another short limit nzdusd set at .7224 – will I get lucky with it? ha
I just put on a small position GBPJPY…… anyone watching it? On the Daily chart, its been away from the 800 590 candles!
Long GBPCHF ? … is it time ?
http://www.screencast.com/t/MTEwZjRmZTYt
That GBPCHF looks great! Bounced and everything!
Are you going to have some ideas after Helicopter Ben speaks? Triffany? We’re all waiting? ha ha