looking to go long again on this crab
break of 94 possibly for target 9520 then 96+
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looking to go long again on this crab
break of 94 possibly for target 9520 then 96+
I wrote this post about 7 hours ago - 2:30 PMish and the chart will probably support that. I thought I posted it then but it seems not, so I will just retype for the sake of posterity ;+)
Re NZD I've had a bit of difficulty seeing a long there , and had been shorting it overnite with some success , but now looking at the OZZIe has opened my eyes to how I can agree with you both Arco and DA re so I neutralised my short positions and have started laying in small longs on both AUD and NZD . Although they are similar it seems to me the Ozzie pattern was more correctly played out.
http://img217.imageshack.us/img217/3...007mediby7.jpg
And now (back in real time ) its looking good the limit buy order was filled right at the .78 retracement and average position is +30 for oz +15 for NZ
Interestingly Max is against us tonite saying that kiwi and oz will find resistance at around their current levels i.e .76 and .89 and then head substantially south.
Time will tell as it always does.
Real account trading is getting closer. I verified my PayPal account and should now be allowed to transfer to Oanda from there. Have done so - lets see if it doesnt get rejected this time.
Peat
I think the technical position on Aussie and Kiwi is quite complex
presently, so anything is possible. If AUD 9140 was achievable it
would present another potentially profitable Gartley situation.
Looking at Ichi...............
Aussie is supported by the thick Kumo which could add some lift in
the short/medium term. However, there is always a possibility the
action may eventually venture part way into the cloud to complete
a corrective sequence.
On the 4 hour there seems to be 3 waves down completing just
below 2618 (although this is not obvious on the daily).
Chikou has tentatively entered the plot but no cross yet on Kijun/Tenkan,
although the red Kijun line could act as resistance
my ew suggest low risk long as wave 2 completes critical level to set stop 8754
just for the record my Oz longs closed themselves this morning as I had failed to reset the default 100 take profit setting. I need to be more ambitious!! still it was a nice trade getting the biggest buy in at only 9 pips above the low.
and btw.... I am now able to trade via fxtrade. ooh the nerves will start to fire a bit now !
And although I think the kiwi/oz long scenario still has some go I wont be entering the kiwi long in real a/c as the best risk/reward ratio has passed and I must be extra disciplined now
hmmm
back into the D zone now.... and hit a lower low than before. tho currently bouncing a little.
Does this mean the gartley has failed? - technically not till it crosses X) but certainly coming back into what Carney might call the PPZ (profit protection zone).
Could be just the 'back to test' thing goin on tho.
Peat
There are harmonic patterns in several timeframes - which TF are you
working on?
rgds - arco
I'm looking at the patterns since Nov 13th as per this picture
I have lined the new pattern tho it doesnt assist my understanding.
The RSI is now more oversold than it was before at this level tho so this makes me tend to think it would bounce from here again but dont choose to risk 70 pips - if an uptrend develops from here I'm hoping it might be large enough to miss a portion of it. i.e let it confirm.
http://img132.imageshack.us/img132/1...0112007ka3.jpg
Peat
I wonder if its heading lower to create a BF
Yeh thats the one
Some heavy red 30 min candles now
This is the reason why the PPZ is so important imo.