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Thread: Nzd.usd

  1. #601
    Guru Xerof's Avatar
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    Yes agreed....

    For clarification here are the two specimens being discussed.....



    Xerof


  2. #602
    action-reaction arco's Avatar
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    Hello Xerof

    Thanks for the pic.

    Just thinking that the yellow pattern probably falls into the CRAB* harmonics catagory.

    *The CRAB is a harmonic pattern discovered by Scott Carney in 2000. This pattern is one of the most precise of all the harmonic patterns. The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg.

    Regards - arco



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  3. #603
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    Hello Arco/Xerof

    i am finding your posting quite challenging and have been using my calculator to work out the crab formation and how it relates to the nzd.its not hard to draw fib levels on metastock,but not so easy when faced with numbers like 2.24,2.168

    math has never been my strong point so please correct me if i am wrong but to manually arrive at 1.618 extension of the XA leg, i took X-A times the diference by 1.618 and added that to point A

    As follows.6440-.59300=.051 * 1.618=.0825 +.59300
    =.67551
    so to extrapolate to have a harmonic pattern do you mean that each leg has to be in the right Fib proportion to each other,whether its a Gartley/Butterfly or Crab so in the crab but not the other patterns
    the BC projection leg would have to be one of the following numbers * the differnce of BC (2.24, 2.618, 3.14, 3.618) as per your post Arco and should be close to .67551 area

    Cheers
    Cadet Roddy

  4. #604
    action-reaction arco's Avatar
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    Hi Roddy

    In Metastock you can add any Fib numbers without difficulty.

    Right click for properties/retracement lines - and then add in value lines you requre.

    However remember 2.24 converts to 224, and 3.618 to 361.8, etc

    Now you should see the PRZ areas/confluences.

    regards - arco







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  5. #605
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    Hi Arco
    thanks you for that Arco, will make things a lot easier!

    kiwi moving south currently trading .6473

    Cheers

    Cadet Roddy

  6. #606
    Guru Xerof's Avatar
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    Don't fret, it's likely to only be a minor retracement.....under 64 cents would probably change the picture somewhat





    Xerof


  7. #607
    action-reaction arco's Avatar
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    17/8....6560-6590 could even be possible, but at that point Mr Gann could put up some strong resistance.

    Good to see Mr Gann managed to repel the invaders first advance and in doing so handed us circa 140 pips on a plate.

    Thankyou once again Mr Gann - keep up the good work.

    Your pal arco in QLD [8D]











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  8. #608
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    Heres something a little different,basic theory i believe is price is supposed to remian within outside lines and have a preferance for the median /middle ground.
    will be interesting to see if it can hold the .6420
    area with Fib just below as well!



    cheers Cadet roddy


  9. #609
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    Placed a long trade at .6420 tading off the 15 min chart, thinking it had found support and Andrews Pitchfork had held only to be stopped out very quickly at 6390 something after Cullen comments!

    USD seems to be strong across the board today,
    cheers cadet roddy

  10. #610
    action-reaction arco's Avatar
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    Hi Roddy/Xerof

    IMHO Pitchforks can be used selectively, but they should be confirmed using other signals for major benefit.

    Now that manky ol' Crab is still giving off its bounty with a max 220 pips.

    Are you still holding long XEROF.

    Good weekend all

    arco in QLD








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