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Thread: Nzd.usd

  1. #511
    action-reaction arco's Avatar
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    Textbook Gann................

    From yesterday Gann .6836

    Uptrend line has been broken and oscillator dropped
    below centre line, so if that Gann breaks it may then
    become resistance.


    Gann level was breached and polarity tested as suggested. Next possible area to watch - .6714

    arco
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  2. #512
    Guru Xerof's Avatar
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    Greetings Arco,

    Gann 6836 - - I can't for the life of me get that point on Esignal chart using DGL. Can you provide the 3 dates used to calc that please, to enhance my edumuhcashin

    The 78.6% fib at .67665 held perfectly last night BTW, low was 6767 according to local bank reports this morning - nice...

    and this is after the 61.8% fib of last downcycle held neatly at 7000 as well - I've never known the currency to behave so well[][]

    I'm still bearish fundamentally (stomach pains) but would like to be flexible and see if a gartley or even a butterfly forms on the daily and weekly charts, using last nights low as a base for point C.....

    cheers

    Xerof

  3. #513
    action-reaction arco's Avatar
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    Morning Xerof

    I have several DGL's overlayed on my chart and sometimes tweak the longer dated DGL formulae in Metastock to correspond with previous support/resistance points, therefore my figures might not always correspond with yours or standard DGL's.

    The L1 from 5/12 gave a very accurate support point (based on Rooters EOD)

    Regards - arco

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  4. #514
    Senior Member slam's Avatar
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    Xerof

    I may be wrong (and more than often are) But if you take the high at .7 being c, maybe it's a gartley going the other way.
    ie we are finishing d now.
    or is that what you ment in the first place
    (I'll shutup now)

    Cheers
    Slam

  5. #515
    Guru Xerof's Avatar
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    Slam,

    That would be an invalid pattern, as B .6702 is lower than A .6746.

    It early days and as Arco has said in the past, prefer to wait for a full pattern to evolve, than try to anticipate one forming, so take my comments as they were meant - merely a possibility.

    BTW -
    quote:I may be wrong (and more than often are)
    - don't be so hard on yourself - you have done pretty well since returning from exile

    Xerof

  6. #516
    Senior Member slam's Avatar
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    Cheers Xerof

  7. #517
    Guru Xerof's Avatar
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    BTW, its a bit concerning that it couldn't rally with the rest of the pack during Friday night's USD sell-off.....

  8. #518
    Senior Member slam's Avatar
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    Xerof
    Sames with AUD.
    I remember on post last year that stated these 2 would perform like this.
    ie. move down with the other currencies against the USD but not recover as much when they bounce/retrace etc. Lower Lows and Lower Highs.

    May be the pattern for a while with these 2, especially if Japan starts pulling out

    Cheers
    Slam

  9. #519
    Senior Member slam's Avatar
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    Bollacks Hawkish again
    Made a nice Buy though for AUD/NZD[8D]

    Cheers
    Slam

  10. #520
    Guru Xerof's Avatar
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    We seem to have ignored the ol' bird recently, so here goes....



    It's at an interesting junction. This Bullish(yes bullish) butterfly has met the AB=CD target, and has followed classic retracement numbers so far....

    But, it is not in harmony with Fibonacci extension targets of 127.2% and 161.8%, so there seems a good possibility that this 6680 area will not hold this time round (.6680 to .6700 has been good support twice now since July last year)

    I think if we see a clear break of .6680, then we should set targets somewhere between .6620 (127.2%) and ideally .6525 (161.8%) before a bounce.

    Xerof

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