H1 NZD/USD
Technical: A longer term Trend Channel over shoot with a near tearm Head and Shoulders.
Good risk reward, but who knows if it'll work.
Fundamental: There are Retail Sales q/q and Core retail sales q/q at 4:45pm
Thoughts: the market may wait to see how the retail market numbers turn out. Or wadgers may be placed before and we'll all respond to the numbers later.
I am short, risking 15 pips and i'll scale in on success.
Hopefully, the political currency wars will stick to the Euro.
Exits: 1. 0.85000 stopped out.
2. 0.84222 take profit.
Logan
Thursday, February 14, 2013
NZD/USD Head and shoulders + trend Channel overshoot 14Feb2013
H1 NZD/USD
Technical: A longer term Trend Channel over shoot with a near tearm Head and Shoulders.
Good risk reward, but who knows if it'll work.
Fundamental: There are Retail Sales q/q and Core retail sales q/q at 4:45pm
Thoughts: the market may wait to see how the retail market numbers turn out. Or wadgers may be placed before and we'll all respond to the numbers later.
I am short, risking 15 pips and i'll scale in on success.
Hopefully, the political currency wars will stick to the Euro.
Exits: 1. 0.85000 stopped out.
2. 0.84222 take profit.
Logan
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I ended up closing just above break even when the market got volitile from NZD retail sales. I reversed long for a few pip scalp. retail was up 2.1% from -0.2%
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