Synthetic NZDJPY

Discussion in 'Forex Trading' started by magister, May 1, 2006.

  1. magister

    magister

    Hello I would like to trade the NZDJPY but my broker doesn't have it...

    Would I just go long on the USDJPY
    and then long on NZDUSD ?

    What I then understand is if I have one with a price of around 0.6400 and the other of 113.50 - how can I know when I have reached my target and take profit.

    If say the USDJPY downtrends but the NZDUSD uptrends how do I know where I am relative to everything.

    I suppose I could switch brokers but I already like the one I am worth and prefer to keep everything in one pot...

    Thanks for any insight into this one.
     
  2. magister

    magister

    also should I necessarily get an equal sized lot of USDJPY in comparison to the lot size of NSDUSD ? Say 1 mini of each?
     
  3. expiated

    expiated

    I’m feeling pretty content with the tools I’ve come to use to interpret market conditions and won’t be surprised if any modifications I make in the future amount to no more than minor adjustments.

    In fact, the amount of clarity I feel like I'm getting from my combination 60-, 15-, 5-, and 1-minute setup leads me to believe it might be kind of fun to look for a daily “money trade” that appears almost destined to yield a significantly return within the next 24 hours or so.

    If nothing changes between now and next week’s open, for me that trade would seem to be a long position in NZDJPY.

    ScreenHunter_6948 Jan. 13 21.18.jpg

    The week-to-week trend has been bullish ever since November 28th. The day-to-day plunge that took place on Tuesday and Wednesday of last week tried to change that, but was unsuccessful, and Friday’s bearish intraday trajectory has resulted in a structure that is almost ideal for entering a long position as soon as the intraday trend resumes its bullish ways, so that’s what I’m planning to do.