my view is down further ...
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my view is down further ...
Hit T1 on my short and out.
In the 5 min chart the range was 41 pips
weekly review suggests further downside for nzd and most likely the declines will gain in pace
73.80 should provide stiff resistance , which should be a good weekly target.
the below chart was prepared after the Dan Carter news.
http://i183.photobucket.com/albums/x...99/NZDH1-1.jpg
Hi DA
You think the Dan Carter news is going to have that big an impact? :)
That aside I do agree that there is likely to be a sizable downtrend next week... or this week actually.
Good luck!
BTW I notice that you post quite a bit on the NZDUSD thread - do you do any such analysis for EURUSD, EURGBP, GBPUSD, and AUDUSD pairs?
Cheers
RazorX
Hi razor, i like to trade oil , natural gas , sp 500 , dollar index and individual forex crosses.
I tend to look at the macro picture and trade the most volatile pairs.
If you want to live dangerously trade gbp jpy.
To be honest there is little interest in trading on this forum so i guess nzd being the local currency seems to get a bit of attention.
Thanks for the chart DA.
I notice my CFD provider is managing this mornings volatility with an up to 11 pip spread...
need a good counter trend rally to position for a short .
maybe a little optimistic but could run up 77 - 78 to provide a excellent short entry.
tricky to get a meaty short on with acceptable risk, even though the nzd is moving as anticipated.
should be an interesting week , SP500 breaking down with one particular count suggesting a large capitulation type sell off may be close which could be the end of the bear market.
this also would be the end of the nzd correction at 73.80 or even 72.
Hi DA thanks for your post.
If you draw a Fibonacci retracement from the higher high on the 30 minute chart at 8.40 with the second value as the lower low at 10.20 the result is a 38.2 at .7538 which value was respected almost to the pip since.
Are you still looking for an entry at .77 or .78
hi toulouse,
no wishfull thinking 77.78 was an old fib line , sort of headed up that way but didnt make it.
id take 76 today .
Thanks DA,
I will set some NZDUSD alerts this afternoon.
What is your preferred trading option today; FX pair, index, commodity ...
thks and rgds
PS I see the NZDUSD low at 10.20 of .7608 has been respected since as well...
ive been working on a short on gbp jpy which is nearly there .
possible short capitulation on sp500 and therefore more dollar strength would be the ones to watch
i will post a chart later when i have more time.
gl
possible short entry of upper channel border
would expect price to reverse around 76 - 76.20 , 60 pip stop
target 74.70, 74.20, 73.80.
http://i183.photobucket.com/albums/x...999/nzdm10.jpg
looks like its breaking down now could move stop to 76.30
im short from 75.80
another short entry on retracement to 75.50