Milk
GBPNZD: Pound/Kiwi retracement done in 2 daysThe GBPNZD pair has been in a strong uptrend, and after topping in August 24th, when the stock market bottomed after flash crashing, endured a lengthy correction.
The time for this correction now matches the time the advance took to form, and we're close to a perfect 0.618 retracement of it, which nicely lines up with many time at mode elements suggesting a long is possible in this zone.
I'll be looking to entering intermediate/long term positions around these parts, I expect new longs to enter after new year, and a very strong uptrend aiming for 2.66+ to start soon.
The stop loss for this entry is vital, and can make or break the trade, so I will enter with a few different techniques to attempt to leverage this into a giant home run trade.
For details on the specific position management, entry, exit, and stop loss values we will use, contact me, since I will reserve this for my private trading room.
Good luck!
Ivan Labrie.
GBPNZD: Correction spottedThis is an interesting chart. I was under the impression that this was a running correction intially but the recent price action makes me think otherwise.
The majority of the people are expecting a rate cut this week, during the RBNZ rate decision on Wednesday.
With heavy UK data coming out tomorrow, volatility is a given and I think the bigger risk/reward ratio will be on the short side.
Looking to short this week, using the 4h chart for entry, and scaling in as we move forward.
I'll update with my entry and scale ins once the trade is active.
This trade would serve as a hedge for GBPUSD longs.
Good luck,
Ivan.
AUDNZD: Bargain hunting in an uptrendAnalysis on chart + neowave wave chart (weekly plot) + a new indicator I coded.
See related ideas for the code.
Good luck!
Ivan.
AUDNZD: Time and price target for a reversalOk, some traders noticed this vertical advance and want to short it.
I do too, but not for now. I'll wait for confirmation before going short, but it looks like a potentially very good trade.
It's reassuring that we are at the start of a new quarter, and many trends will start to reverse, and many pairs will come out of consolidation patterns as money managers take profits to show results to their investors, and also, the Grexit drama rears its ugly head once again, during tonight's Asia/London session.
I'm considering this trade, once the price in the daily and 4h charts confirm the entry.
For now, keep a close watch to both time and price, since this zone is critical in my view.
I'll update the chart with my entry.
Good luck,
Ivan.
NZDUSD: Bottom might be inLooking to go long NZDUSD on a retracement to my buy zone. The trade will be split in three orders. Stops will be directly under the low for one of them, below the red line on the chart, and slightly below the last bar open (factoring in the spread). This is a higher risk trade, but potential rewards make up for the exposure. I will risk 1% on the setup, and scale in with smaller 0.5% risk batches if I get more opportunities.
Since the time at mode downtrend target hasn't been reached, nor the time expired, it might be a long shot, but I feel it's a good opportunity to jump the gun, based on the weekly chart divergent low, and the FOMC induced 4h bar, as well as the levels where price stopped falling at.
If we move above the monthly mode with confidence, this might be the start of a strong uptrend.
Cheers,
Ivan.
NZDUSD: Interesting contrarian point of viewI'm looking at NZDUSD as a potentially long trade, why I decided to chart the inverse pair, USDNZD to change the perspective a bit.
What I see is a potential large short* opportunity (*in USDNZD) , if the profile balance point proves to be a reversal level, and the distribution becomes a normal one, forming a bell curve shape. (respective to the time spent at price profile, a technique I learned from Tim West).
The rate cut formed a very wild outside bar, which isn't clearly bullish, yet it happened at a very volatile juncture, inside a 10 bar mode.
The shape of the pattern is looking like an expanding triangle, but I'm not sure of the EW specifics.
For the time being, I'll watch this pair for short trade setups, and will update the thread if I see a good opportunity.
Cheers,
Ivan.
