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Thread: Nzd.usd

  1. #51
    Guru Xerof's Avatar
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    quote:13/4/05 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
    quote:14/4/05 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.
    short 2 units at 7260, and one added at 7190. Stop if .7280 is bid at this stage. No downside target in mind at this point

    Xerof

  2. #52
    action-reaction arco's Avatar
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    Sometimes there are just too many pairs with
    nice looking Gann reversal points, etc.

    The 7263 Gann resistance mentioned would have been the
    perfect entry......Well done for getting on board Xerof.

    I instead jumped aboard the plummeting EUR and
    snaffled 80 pips overnight....

    Good trading all

    arco







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  3. #53
    Guru Xerof's Avatar
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    Staying short, add another unit to the 3 already held if .7190/7200 seen this week.

    That should be enough risk for this puppy, then sit back and wait, with S/L in place of course[8D][8D]

    Confidence for a strong bearish decline confirmed by a break of .7015, the neckline of the H&S formation cited in earlier postings


    Xerof

  4. #54
    Guru Xerof's Avatar
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    Added another unit last night at .7195. Now the full quota short. S/L if goes 7280 bid.



    Xerof

  5. #55
    action-reaction arco's Avatar
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    Good Morning Xerof

    Possible resistance circa 7202 broke with quite
    a strong move negative US$ overnight.

    Further resistance could be seen around 7263 with
    major circa 7324 where various lines converge.

    Oscillator has turned up positive off the centre line (zero).

    However, you are obviously still feeling confident,
    and sitting with a manageable position if 7280 happens
    to fall.


    arco
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  6. #56
    Guru Xerof's Avatar
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    Arco,

    just on the QT, I'm not that confident having seen the early morning price action, but will leave S/L unadjusted, as 7263 might be sufficient to contain again.

    Xerof

  7. #57
    action-reaction arco's Avatar
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    Good Morning Xerof

    With a high of 7292 around 6 a.m
    I presume the SL was hit - unless
    you deceided to move it higher?

    arco



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  8. #58
    Guru Xerof's Avatar
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    stopped out Arco - looks like it might have another half cent rally left in it before down, but still keen to be short so will run a trailing stop if/once it gets above 7320

    regards

    Xerof

  9. #59
    Guru Xerof's Avatar
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    resold late this afternoon, with a tight s/l just above 7310. Still believe its about to roll over, so have given it another go

    Xerof

    edit: if I get stopped again, will again resell at 7335

  10. #60
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    if RBNZ (as most people expect) keeps rates steady next thursday it could come down a little... so in the lead up to the announcement maybe there will be this pressure downwards due to "the market" pricing it in...

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