Nzd.usd

[dumbass]

hi thanks for the pm , i can certainly bore your socks off with some technical info on the trade , i will post a reply when i have time later.

[dumbass]

corrections appear in 3 main waves , the first main wave is constructed of 5 waves therefore it must be a

zig zag correction ( 5 - 3 - 5 ) that is about to unfold.

the tricky bit is working out the wave structure of the second main wave as its a corrective wave working against the main trend it overlaps and runs a complex pattern

the third wave is unfolding now, which will subdivide into 5 waves and have fib relationships to the first wave.

heres my internal count of the second wave which i followed for a month with a few false starts but got there in the end



i shorted the major third wave down and closed out this morning because i counted 5 waves down which is the completion of the first sub wave.

i had four positions short (100 k a position ) for a total of about 900 pips.




im now waiting to allow a correction to run to enter short again for the most lucrative third wave down , i can pm you when i go short again.

[Toulouse - Luzern]

Hi,
I have some USD in DB multicurrency A/c at .81285 placed there on the way up for NZDUSD so I am interested in the earlier target around .77800

[dumbass]

So far so good , if this fall is the real deal it will be sharp decline to lower levels .
If it stalls around the 79 to 80 mark it may indicate a recovery higher before dropping lower.
My ultimate target is 72 area.

[dumbass]

wave patterns following the script nicely, now looking to increase shorts to maximum exposure to ride the third wave

lower with first target around 77 area.

4 shorts from friday for 400+ pips and will look to add four more shorts next week.

[dumbass]

closed off all shorts and will have a small long to pass the time before going heavy short after this retracement.

[Toulouse - Luzern]

Hi,
I assume you are in the money on your shorts.

I missed the exit at .81173 last night at 8.00pm ish.

My expectation was the US markets would go down today and risk aversion get me into the money.

I did not expect the China purchase of Italian assets story.

So we are on the opposite sides, I think as I am looking for a weaker NZD.

[roddy]

Hey NICE trading DA i like your disciplined approach as per usual, and it paid off in the end

[dumbass]

roddy where have you been, trying to keep the old forum going but not much interest.
sounds like peats got a proper job and arcos not posting much.
what you been trading?

[roddy]

HI DA good to hear from you,i periodically have a look see on this forum but not much happening as you say apart from
your posts
at present i am short the EUR/USD FROM 1.3840 level
last year 2010 didnt trade that much fx but main focus was on small cap start up miners and some producers,
had a great run up until December. At present just have a handful of small positions. gold has had a huge run but there
is a disconnect between the commodity and stocks,in saying that the likes of OGC and other producers will be making large
gains due to the increase in gold price. I have learnt one thing and that is if the stock market gets sold down everything gets sold down! On my trading platform i can now trade oil and Gold so that gives me some more options
i have just finished reading Darvis book How i made $2000,000 in the stock market : he had a simple but effective system
how have your returns been this year and are you still trading full time?
cheers
roddy