AUD.NZD

[Xerof]

Arco,

yes can see the gartley on the daily, and probably the NZD/AUD daily has more potential to go higher (AUD/NZD lower) than my 120 min chart indicates, however was only showing initial 1.272% target

conversion of all cash to AUD? - I was over-dramatising but does seem to be nearing the top end of a well worn range. Nothing funnymental to suggest it won't continue to trade the wider 85/95 range for less than eternity[xx(][xx(]

Blackcap - greetings

you'll find almost all tipsheets are technically based - sorry about that mate, but if you're serious about successfully margin trading FX, then best to do your research on demo account for at least 12 months before fronting up with your capital - its not the easiest craft to ply

You'll find plenty of referrals on the Forex threads right here, and genuine, mostly profitable trading strategies - and best of all - no ramping

Xerof

[blackcap]

Thanks for the suggestions Xerof. I have been playing the demo for a while before going for real but find that you dont have the same discipline when doing it on demo and this tends to distort and skew your returns.

Have been following the discussions on here too and find it very interesting. Keep up the good work. Im sure its appreciated by a lot more people than just me.

I also know what your saying about technicals and currency. It almost seems the two go hand in hand.

[arco]

Here we are then......at last



arco

[Xerof]

Yep, just about in the batters box.

I'm being patient though Arco, looking for the dipping ball into the back of the red zone, possibly next week if all goes to plan.

Hate to bring in fundamentals, but should see a flurry of nervous selling of AUD/NZD prior to RBNZ

Xerof

[arco]

Xerof

There was a 85 pip dive into and back out of the red box with the EOD forming a Doji on Rooters charts.

How do you see this pair now fundamentally?

arco

[Xerof]

You beat me to it - this was my next topic to update.

Yeah, another one that got away I think - wave 5 looks completed, doji candle as you mention, and clearly made it into the zone.

May get another spike before next week, but seems this shorter term opportunity may have been missed.

But again, I'm encouraged by the potentially high strike rates these patterns produce - I think I'll become a collector



Xerof

[Xerof]

Second lick of the icecream coming up for those interested in selling this cross. Currently 9280 and might be able to be a little greedier this time

Xerof

[blackcap]

quote:Originally posted by Xerof

Second lick of the icecream coming up for those interested in selling this cross. Currently 9280 and might be able to be a little greedier this time

Xerof

So at what point would you sell Xerof? Im already short, but you reackon its time to short it now?

I cant help feel its going to trade round the 0.88 range again soon.

[arco]

The action is now playing in the red box (see my previous chart) which is one of the possible reversal area, however no turn around signal is confirmed at this moment and the oscilllator is still following the plot.

No poistion taken as yet.

arco

[Xerof]

Blackcap - .9350 (1.0695 inverted) should prove fairly resilient, being 1.618% retracement level, but might just be a bit too much to ask for.

Arco, where's Major Gann lurking on this one?