*Position Update: As of 05/13/2015 @ 23:38 The Global Currency Scalper liquidated its position with a loss of 19 Pips.
The trade: Short GBP/USD & Long NZD/USD.
A nice correlation trade is setting up between GBP/USD & NZD/USD. The spread in the correlation is currently 500 Pips, over the past year the max spread has been approximately 700 Pips.
We will be taking 1/2 our intended position size, if the spread continues to widen we will slowly add to our position. There is a good chance we see that happen over the next few days as the US & Great Britain both have economic numbers scheduled for release. If our timing happens to be accurate and the spread begins to narrow before that data is released we will book our profit.
Please see the chart for details.
The trade: Short GBP/USD & Long NZD/USD.
A nice correlation trade is setting up between GBP/USD & NZD/USD. The spread in the correlation is currently 500 Pips, over the past year the max spread has been approximately 700 Pips.
We will be taking 1/2 our intended position size, if the spread continues to widen we will slowly add to our position. There is a good chance we see that happen over the next few days as the US & Great Britain both have economic numbers scheduled for release. If our timing happens to be accurate and the spread begins to narrow before that data is released we will book our profit.
Please see the chart for details.