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Trade 2 May 1st: Short GBPNZD(0pips)

5/1/2017

0 Comments

 
After the success of this mornings first trade I have opened a half size GBPNZD short.  Half size because this pair is super volatile (regular readers will know it is my biggest money earning pair), The GBP and the EURO have been on significant charges of late but some of the rationale for this is dubious, at least a pullback is required if not a complete change of direction.  I am starting to wonder if the french election may be a typical 'buy the rumour sell the news' event as the Euro rise looks overdone and exhausted.  UK data has moderated of late just as the currency takes of which reflects the political situation rather than the economic one.  The report in todays FT about the problems Brexit negotiations are running into ads to the bearish pound view. I am activey looking for opportunities to sell the EURO and the GBP and opportunities to buy the AUD,NZD and CAD.  This trade fits this view nicely.
​Technicals are quite good, the blue trend like broke giving way to a rounded topping pattern, a trigger line was put in place marking a spike lower and the trade was opened when this was passed.
Picture
Decided i was not sure about this trade and that i was not prepared to let it continue.  Stopped for zero
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    Author

    Steve Tobin
    Husband, Father
    Maths Teacher, Trader

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RetiredearlyFX is a trading name of the investment company Bagehotsway.
We are not a regulated company but we only sell regulated products.
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We believe all figures quoted to be accurate but past performance in no way guarantees future performance
Trading FX is high risk and not suitable for everyone.
  • Home
  • How it works
    • How to Make 100k with Forex
    • Plummer Wave Trading
    • Economic Surprise Index Methodology
    • Mathematical FX model
    • The Complete Plan
    • Invest
    • What is Social Trading?
    • FXTM
  • Info
    • The Trading Plan >
      • Trade Targets
      • Waves
      • What is a Plummer Wave?
      • Wave Trading
      • Forecasting the Market
      • Weekly Waves >
        • Cycles and the Indices
    • Education >
      • Positon Size and Risk
      • Beginners Corner >
        • New To Forex
        • How To Start Trading with $50
      • Top 10 Forex Websites
      • Economics >
        • Economic Surprise >
          • Economic surprise July
        • What drives Prices ?
      • Trading Needs
      • Points of Interest >
        • Facebook Wave analysis
        • Forecasting EURGBP
        • NZDUSD Long Forex Trade?
        • Gold A Technical Study
        • USDJPY Forecasts
    • Predictions Archive >
      • Forex Predictions May 2017
      • Free Forex Signals May
      • 24th April
      • US Stocks
      • USD Crosses Forex Prediction
      • European Stocks
      • Euro Crosses
      • ANZAC currencies
      • GBP Crosses
      • Asian Stocks
    • Members Area >
      • Trade History >
        • Journal Charts 2018
        • Journal Charts
    • Risk Disclosure
    • Project $100K >
      • Project 100k Archive >
        • Project 100K part 2
        • Project 100k Attempt 1 Review
        • Trade 1 Project 100k
        • Trade 2 Project 100k
        • Trade 3 Project 100K
        • Trade 4 project 100k
        • Trade 5 Project $100k
  • Trade Ideas
    • Trades Blog
    • economic blog
  • About
    • Company
    • Contact