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10-09-2006, 12:29 PM
#611
No -I haven't had any positions in Kiwi for some months Arco. And yes, the Major indeed put up a particulary ferocious defence around that 6560/90 level - the enemy seems to be running for the hills at the moment [B)][B)]
regards
Xerof
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23-09-2006, 10:46 PM
#612
Re mentioned recently on the Butterfly/Gartley thread...............
"Looking pretty strong at the mom.....depending on ones stance, an EOD reversal pattern btw 6600-6720 on the daily might be the catlyst for a nice short IMO".
6658 was the high this week and the weekly chart has printed a Harami pattern, with the EOD looking like it might complete a 3 Falling pattern next week.
Watching this one closely now for the possibility of a confirming reversal signal.
regards - arco
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24-09-2006, 06:21 PM
#613
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24-09-2006, 08:50 PM
#614
Hi Roddy
I don't personally find the SEC of any use in forex trading - it may be of more use in share trading where volume is available.
My charting tip - keep everything as simple as possible.
regards - arco
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24-09-2006, 10:00 PM
#615
Hi All
Worth watching closely now....we are hovering within a potential reversal point IMO.
regards - arco
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25-09-2006, 04:13 PM
#616
hope no one jumped in prematurely.... up 3/4 of a cent today....
I read on the global view forum a few days ago when quite a few were recommending shorting NZD just after the trade deficit figures came out and one of the older wiser posters said 'shorting the kiwi is fraught with difficulty'. I thought at the time that it didnt go down very far after that figure which struck me as being quite bullish
I might give this a go (short ) at 6720 level where we hit the 61.8 fib retracement from 71 ish.
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25-09-2006, 06:10 PM
#617
Hi Peat/All
No one should have jumped short yet as there has been no confirmed reversal signal.
The chart I posted shows only the potential reversal zone to be aware of.
I have not entered short yet - still watching for that magic signal.
Regards - arco
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25-09-2006, 06:14 PM
#618
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25-09-2006, 06:36 PM
#619
Hi Roddy
Yes, I consider the Butterfly still in play. The reversal at 127 turned out to be just a short term profitable part of the normal wave action, but we can now keep our eye open for another nice reversal signal.
There is a Gann calc circa 6720 which could come into play (mentioned a few posts ago).
Regards - arco
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25-09-2006, 08:27 PM
#620
the 161.8% target zone is looking very attractive at the moment. Looking for signs........
Xerof
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