NZDUSD Short Setting Up, Tuesday, May 25
Remember: The purpose of these trade alerts and watchlists is to keep discussion going about what’s going on in the marketplace. It is not my intention to have you trade what I trade, simply to tell you which trades I take that we’ve talked about at the WLWs.
In order to make this the best learning opportunity for you, it’s important that you share your thoughts and ideas on the charts, fundamentals, psychology, or whatever you need.
Here’s the NZDUSD pullback I was watching for. A trigger for me would be a close below the last hour’s body. Right now it looks like the stop would be about 67 and I still like the 65 mark as a PT. Here’s the chart:
Click to enlarge
Be good to you!
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 
Yup, the Fibo retrace should stop short of the 71.8% – around .668 on my chart. Thanks for the heads up. But under my new rules, I have to go to bed vry soon after 11 my time…
That’s right! Your primary job, right now is to take excellent care of yourself.
I have entered the trade near the close of the 2pm EDT candle. http://screencast.com/t/YmM2MjRjO
Yes, I am short NU with a 65 target and SL .677
Is anyone awake out there? any sweet ideas?
Nope except Asia equities are rallying and see if risk trades carries over thru Europe into New york pre-open
Watching GJ for break of support at 129.3 – it is well above the 1 hour negative channel. 200% fibo takes it back into the channel. But for past week its been within a range of 128.1 and 130.75…. Aby, Trif, anyone have thoughts…………. bounce or break??
GJ decided to go north bouncing from support. I am short NU, not cooperating. Retracements on 1 and 4 hour are staying marginally below the 71.8% Fibo, Just sideways slosh in the muddy patch. So tell us wise ones, stay short or close? Cheers to the US early risers.
I’m bullish on the AUD and NZD Daily chart, but don’t have anything on H1 or H4.
Just taken a 30min short though on the AUD (same setup in NZD), looking for 30 pips.
I’m still short the GBP and some CAD from yesterday. Almost stopped out on the GBP, better now but still in DD. Oppositely (lol), CAD came within 8 pips of PT, reversed 100pips and now heading in right direction again.
All’s quiet on the western front !
Jerry, the Yen pairs have created a little pause for themselves and I think eventhough we are getting some weak reports, those have been priced in from this super run we had for 2 weeks. I can see the GBPJPY reaching 133 if it breaks the range unless something triggers another sell off. But for now its a wait and see game.
There is nowish a 2nd oppurtunity to get it on the USDCAD as its retraced and there is a better price to look at …
Jerry, It’s good to have you back so quickly, I hope you fully recover as soon as possible, I will keep you in mind for any testing plans, I intend on testing for a while so there is plenty to do … I don’t think there is anyone on the planet that would advise you other than to take it easy, keep relaxed, only sky dive twice a week, maybe start the cliff climb from 150ft up, try not bench press more than 150kg and maybe cut out the biking section from the triathlon training … i think that makes sense
Thanks, Aby,
Indeed, its nice to be back….. sky diving is on the list,,,,, but deferred…. Have done bungy which is great fun – a real knee-knocker! 1st goal is repair heart. 2d goal lower cholesterol through diet. 3rd goal get back to swimming 2 km/day……. Oh yes! make money trading! how could we overlook that! Cheers to all
Slight disconnect when London is online and positive equities and when just new York is online post 12 noon est. I’d look for some nice moves into New York close, for me, this means volatility. Small counter trend scalp on EUR/USD at 0856
regards
Hey All, Take a minute and enjoy some humor! Read the modern fable….. “The grasshoppers and the ants…” .. very funny!
http://www.ft.com/cms/s/0/202ed286-6832-11df-a52f-00144feab49a.html?ftcamp=rss
Smiles
jerry
I’m not sure the UK grasshopper can provide “little houses in the sun” more like “little houses in the rain” … but he’s a bit harsh on the grasshoppers though, at the end of the day if it wasn’t for the grasshoppers the ants could work all day for nothing !!!
OK, Aby,,,,,,, very good
yeah sorry about that, I consider myself a walking talking doing nothing grasshopper, so i had to defend my territory there
What a day!
CAD short finally hit PT and then some. And a perfect harmonic short trade on the AUD spike move. But still short the GBP on 1 system…. some very nice ranging on the GBP 4 hour and daily though, primed for a big breakout looks like.
So I am looking to go long around 1.4460 – 1.4475 area, SL 1.4350, initial PT around 1.46s but ultimately the size of the big box, one of Triff’s nice nested box trades.
Also, very long term, I’m bullish the pound on a weekly harmonic, looking for a move back to 1.57 – but this has an expected time horizon of 6 months to play out and I’m not an investor, not to mention the carry is pitiful. Good when things line up though!
yaqui, what time frame do you trade your harmonics from … is it the 5min ?
… educate me a little, when you say harmonics do you mean cyclical retracement patterns or do you stand outside and play nice tunes while people throw coins into your hat to pay for your trading account ?
Darn it, my secret is out!! So, I might as well tell you this works exceptionally well on NFP and 3rd Fridays of the month, lol! ;D
Ok, a quick blab – they’re basically a set of Fib ratios/extensions in a specific sequence forming specific patterns. And yes, they occur cyclically based on the fact that humans repeat themselves again and again. Originally discovered in 1935 with newer patterns in the last decade or so.
http://www.screencast.com/t/MGY5YmNmO
See the cool names they have!
And they work on all markets / timeframes but I typically trade 15 min – 4 hour, and pay attention to the higher stuff.
Hi Yaqui, thanks…on the GJ… I think i am plugged into the wrong blog….. because I can see your comment on Triff’s Internet note, but not at this connection.