AUD.NZD

**blackcap** · 18-10-2005, 08:31 AM

quote:Originally posted by 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?

Thanks for your explanation Xerof. Im a novice to the game, but find it interesting. Will have a closer look. Thank you and arco for your charts and comments too.

Regards

**arco** · 18-10-2005, 09:26 AM

Morning Xerof

Major Gann at 7422.
I will try to post an updated chart once I get the EOD download from Rooters.

arco

**Xerof** · 18-10-2005, 09:32 AM

Arco, that'll be the other battalion - for AUD.USD?

Xerof

**arco** · 18-10-2005, 09:43 AM

Hi Xerof

Apologies, a typo, should read.....1.0742

(AUD/NZD - inverse of your chart)

arco

**arco** · 18-10-2005, 10:42 AM

Updating chart

Still ticking away nicely. The red box is a possible area for turnaround so keep a watch on that for any reversal signals. As mentioned some Gann support exists around 1.0742 which may also assist. However, the oscillator is not in divergence presently.

arco

**Xerof** · 18-10-2005, 01:07 PM

The 1.0700/50 area is the Gartley turnaround zone, but a break below 1.0700'ish would give me butterflies Arco. I presume those lower boxes are cabbage white traps?

Xerof

**arco** · 18-10-2005, 01:17 PM

Hi Xerof

Yes they are the next southbound target zones, so IMO always best to wait for a clear reversal signal before getting set for the northerly move coming eventually.

arco

**Xerof** · 19-10-2005, 10:10 AM

Nice probe into the zone last night, not quite to where I was lurking with an offer, but time is on our side I feel...

Xerof

Ooh, maybe not, just noticed that we might get a doji on the daily close, so todays activity might tell us something