Yikes.
I see NZ unemployment jumped up to 6.6% market was expecting it to fall
Imagine how bad it would have been without the RWC…
NZD will head south for a while I think
AUD/NZD pushing higher as you said DA.
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Yikes.
I see NZ unemployment jumped up to 6.6% market was expecting it to fall
Imagine how bad it would have been without the RWC…
NZD will head south for a while I think
AUD/NZD pushing higher as you said DA.
shorts moving along nicely audusd, 200 + 180 + and nzdusd 180+ , i still feel there is more to come so still open.
maybe rod there is a high in on aud nzd , got the divergence on all time frames , 5 wave pattern complete with good wave relationship .
we need to find a short entry against 1.3140 top with back up stop the 61.8 retracement at 1.32.
Hi DA i can see on daily RSI diverenge, so i will keep an eye out for another spike up.some traders trade the breakout
do you ever trade the breakout at lower levels 1.2950 or do you prfer to look for an entry as close as possible to PRZ
hi roddy , its started to look positive for an short entry with a stop 131.50 this gives a favourable risk reward even if we were to make a market entry trade.
best entry is to look for a 50% ( 131.07 ) to 61.8% (131.16 ) retracement of the first wave down , the true first wave is from 131.43 to 130.72 so you have to position your fib retracement chart
on these points and you will see the price will respect the retracement levels better.
the first wave can retrace up to 100 % ( double top ) without screwing up the count.
im going to start scaling short from here.
what i like about elliot wave is risk is so clearly defined so you can put some ridiculously big trades on as your only risking a few pips on a tight stop.
http://i183.photobucket.com/albums/x...99/nzdm1-1.jpg
closed shorts aud 200 + 200 + and nzd 180+
i have a pattern on the kiwi to go long from here 78.22 with a stop 77.90, may be pushing my luck here but will give it a crack.
thats me done untill monday good luck guys
Hi DA great trading i have short on aud/nzd see how it goes and thanks for the advice
have a great weekend
hi rod , long trades overnight worked well long nzd usd 140+ 120+ and aud 160+.
it was another ending diagonal that helped me nail the kiwi for risk of only 32 pips.
i have a nice looking short setting up soon but not yet on light crude clc1
http://i183.photobucket.com/albums/x...99/nzdm1-2.jpg
Hi DA yes your longs worked well ,the ending diagonal seems to be quite a reliable pattern, from your experience do they occur much on a larger time frame.
i am still in aud/nzd as i have stop where you suggested and so far the chart is respecting 1.3145 level
hi rod , yes i think we will have to be patient with audnzd but stop seems to be well positioned.
all elliot wave priciples work on all time frames from the m1 upwards.
i think the dollar crosses are the place to be at the moment , volatilty pretty good
im short kiwi 79.55 stop 79 .90 , it seems the aud goes down qiucker than the kiwi against the dollar so should see the audnzd heading in the desired direction.
watch 1261 and 1240 pivots for risk direction on sp500, seems we have had a failure at 1261 so will probably head back down.
yet another ending diagonal in fifth wave position , this ones ok but not as pretty as the one before.
we have now got 5 waves down and 3 waves up with good wave relationships , i have put another short on at 79.45 as well as 79.50
risk is very well defined at the top of the pattern say 79.70 , so only 20 pips, say normal trading techniques would allow 100 pip stop , so
i can place bigger positions.
400k short on this one risking about $ 700 http://i183.photobucket.com/albums/x...99/nzdm1-3.jpg
yes i normally have a 100 to 150 pip stop just to give it some room, i understand now what you were saying the other day regard you can put on a large size position and still keep the amount of risk down to very low levels.
how long does it take to learn Elliot wave to your standard?
chunky short going nicely rod , 150+ and plans for a lot more.
great call
i DA,
yes will be interesting how this plays out.Scott Carney has an initial target at B i will be encouraged as it pass`s through support
1.2950-30 level
hi rod , hope you got a piece of the action overnight.
short aud,+110, +95 nzd +95 and audnzd still ticking along at 130+
au employment data at 1.30, whispers are it will be worse than anticipated , so may get a boost for short audnzd.