A complex situation with a potential Gartley in the wings. (see chart below)
(But, as we are well aware these can always fly on to become BFs).
So a little caution here until we can get a better idea. The EOD black candle
is certainly the longest down move for a while.
EW-wise.
Its not clear IMO if the Kiwi is in a 335 ABC, or if this is a new impulse.
yes its a bit like taking candy off a baby today.... it isnt always like this tho
I've closed one of my trades at +46 as I know I would do this in real life - left one running.
The Reserve Bank continued easing up on intervention in the foreign currency market, buying a net $6 million last month, figures on the bank's website show.
That compares with the net $138 million the central bank sold in August, and the $1.5 billion it sold in July. The figure also includes liabilities of the Government's Debt Management Office.
The Reserve Bank's net short currency position, which it has said is a better reflection of its currency dealings, fell to $2.41 billion from $2.56 billion in August.
Quick work Peat on the Oa Trade
Whats the plan of attack tonight?
Peat/DB
Short term maybe a slight retrace because we are
being held up on a Gann point 7812, but I think there
could be a little more juice in the Kiwi before a major
ABC fall can take place. 8056....or higher perhaps.
....................IMO in the short/medium term there is still potential for
a move further into the dotted red square before we see a nice ABC correction.
.
.
arco
Originally Posted by arco
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