Nzd.usd

[lakedaemonian]

Thanks for the advice, I'll check the Christchurch library for it..barring that.....I'll pry open the wallet

[Xerof]

Yes thanks Arco, I have bitten the bullet and ordered that book. I do need to sharpen up on TA...

I added to my short NZD position at .7335, with another unit at .7308 last night (then saw it promptly move to 7340...)

Will add another unit on a break of 7260 (or MAY add on a rally back to 7290)

Everything looks heavy agst USD yeah? possible exception GBP which looks a bit oversold right here

Xerof

[arco]

Xerof

I entered a large short position overnight at 7303
Currently + 35

LDI
Check it out at the library if you are able, but
you will need to buy it and refer often. Check
the web for a good discount - Amazon maybe.

arco

[Xerof]

Arco, I like it when I've got good company

LDI, US50.40 plus freight from amazon.com.

Buy it quickly, before the Kiwi drops out of bed

[lakedaemonian]

Just got out at .7266 for +47 on the dip.

It was a "large" position, relatively speaking, for my wee account

Hopefully, I'm not being too quick to take the money off the table(which from what I've read is a common rookie mistake).

I've reserved An introduction to foreign exchange & money markets. from Christchurch Library;

AND I've creaked open the wallet and blown the dust off the credit card for:

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy

as suggested...thanks again.

[Xerof]

Having rid your wallet of the moths, once you get into the book, you'll be able to replace them with butterflies LDI

[Xerof]

Nothing wrong with money in the till.

I've just added another unit to my short at 7255

Xerof

[Xerof]

quote:NZ'S FINMIN SAYS EXPECTS NZD TO RETURN TO HISTORIC POST-FLOAT AVERAGE

anyone worked it out yet?

circa 55 cents I would guess

So Arco, we have good company - Michael is short too!

[arco]

Xerof

A 50 % retrace of the long up-move would take NZD
to 5689, and a 38% retrace to 6106.



A swarm of Butterflies indicate initial targets
over-lapping between 6550 and 6900. So these may
be the medium term regions to watch.

Clearly there could be a long way to go if this is
the case.

arco

[Xerof]

Sold again at 7231.....