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Thread: Nzd.usd

  1. #41
    action-reaction arco's Avatar
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    Or maybe just trail a limit sell up from
    the rear using a CBL or similar technique.



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  2. #42
    Guru Xerof's Avatar
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    OK, enough dicking around with this consolidation rubbish - lets GO !! - 7000 by Friday - minimum, as a first stop

    0.7090 currently

    E&OE - DYOR

    Xerof

  3. #43
    action-reaction arco's Avatar
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    Hi Xerof

    The law of alternation is at work.

    Eventually when 7080 can be broken
    we should get our downside move.

    Arco
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  4. #44
    Guru Xerof's Avatar
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    Saw low .70's before bouncing nicely - like the AUD (see AUD.USD thread) should see a decent rally here to around 72 cents, from where the next decent sell off should commence

    Xerof

  5. #45
    Guru Xerof's Avatar
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    Seeing the rally back up - possibility of getting back above 7200, maybe 7250 early this week, before it comes off hard


    Xerof

  6. #46
    Guru Xerof's Avatar
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    Possible H&S forming on the Kiwi, with the Right shoulder coming in around the previously mentioned levels of 7250. Hmmm, I personally don't trust H&S too much. Think best idea is to have a 70 pip trailing stop entry, in case this thing just keeps going topside.

    Given its a big data week for USD, (with early talk of a widening deficit again - no surprise there I guess), might pay to play it as suggested.

    Read somewhere the USD index had a bearish engulfing candle late last week, and certainly todays early moves suggest that USD might correct lower still

    regards

    Xerof

  7. #47
    Guru Xerof's Avatar
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    This old bird has been solid as a rock lately, since testing that 70 cent level. Still like it heading for mid/late 72's for a tentative sell, if you can trust H&S setups. Will stick with the trailing s/l sell entry scenario

    Any firm views there ARCO, contrary or otherwise?

    Xerof

  8. #48
    Guru Xerof's Avatar
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    very early days, but price action today fits nicely with H&S expectations posted above - a top at .7265 so far today forming Right Shoulder. As I said don't entirely trust H&S formations but here's hoping this ones for real. May take a few days to see a decent result.

    Xerof


  9. #49
    action-reaction arco's Avatar
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    Xerof

    I closed my short position a few days ago,
    and will give you my current view tomorrow AM.

    arco



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  10. #50
    action-reaction arco's Avatar
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    Xerof

    A Bearish Engulfing Pattern has emerged
    overnight.

    I calculate possible resistance as 7263
    (or failing that 7324).

    arco

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