so it didnt quite reach our short target with the yellow bearish gartley(nearly tho)
and now perhaps its giving us a signal to long with the green bullish gartley. The RSI has reached oversold for the second time and shows divergence on the hourly here.
I have taken out a very small long at .7605 stop at 7560
which got blown out a few hours later.
when it bounced back up to my original entry point I shorted it (changed my direction) on the basis that the gartley failed as it went below X point.
stop at 7630 and have got some black ink tho its quite tenuous.
Also shouldnt really short term trade on Monday mornings when Oanda spreads are BIG.
so yeh I took a hit and learned the direction from that - only a small trade but has worked out okay.
also did a bigger one the Euro for +24 with those short term bearish gartleys that kept showing themselves today.
Its the demo account still , but I am taking it on board very seriously (that first failed trade really did hurt I swear! )
But I have just got confirmation of my fxtrade account being available and have now deposited funds tho these may take a day or two to show - soon, very soon twill be fo real
Yes, that spread needs to be considered over the weekend as well.......I always widen stops if I have positions left running. Also if I trade on Mondays, I try to leave it until around mid-day when the spread goes back to normal.
The FX might not be moving as normal here tonight because I think the US are off today for the Veterans Day holiday.
It appears that btw 12/10 to 13/11 the action may have produced a FLAT correction .....which means the retracment could now be over.......(DB is au fait with EW so he can perhaps have a look)
Its also possible the Kiwi print may come under the influence of a new emerging BF which if and when it plays out will create a potential new target circa 8250
If for any reason the price breaks below the recent Tweezer Bottom it could be that the last b-c leg is not compete. In that case the action could fall towards the higher end of the lower green box zone before heading to the target mentioned. (7280 is critical as lowest support).
rgds - arco
Last edited by arco; 15-11-2007 at 06:56 PM.
Reason: Added chart
it feels as though all majors ready for another run on usd imo
unfotunately i have wiped my data file for nzdusd from metastock so can only show last couple of months
emailed infoscan twice and they havent responded could anyone email a data file
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