hi thanks for the pm , i can certainly bore your socks off with some technical info on the trade , i will post a reply when i have time later.
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hi thanks for the pm , i can certainly bore your socks off with some technical info on the trade , i will post a reply when i have time later.
corrections appear in 3 main waves , the first main wave is constructed of 5 waves therefore it must be a
zig zag correction ( 5 - 3 - 5 ) that is about to unfold.
the tricky bit is working out the wave structure of the second main wave as its a corrective wave working against the main trend it overlaps and runs a complex pattern
the third wave is unfolding now, which will subdivide into 5 waves and have fib relationships to the first wave.
heres my internal count of the second wave which i followed for a month with a few false starts but got there in the end
http://i183.photobucket.com/albums/x...9/NZDBWAVE.jpg
i shorted the major third wave down and closed out this morning because i counted 5 waves down which is the completion of the first sub wave.
i had four positions short (100 k a position ) for a total of about 900 pips.
http://i183.photobucket.com/albums/x...9999/nzd-2.jpg
im now waiting to allow a correction to run to enter short again for the most lucrative third wave down , i can pm you when i go short again.
http://i183.photobucket.com/albums/x...9/wave1nzd.jpg
Hi,
I have some USD in DB multicurrency A/c at .81285 placed there on the way up for NZDUSD so I am interested in the earlier target around .77800
So far so good , if this fall is the real deal it will be sharp decline to lower levels .
If it stalls around the 79 to 80 mark it may indicate a recovery higher before dropping lower.
My ultimate target is 72 area.
wave patterns following the script nicely, now looking to increase shorts to maximum exposure to ride the third wave
lower with first target around 77 area.
4 shorts from friday for 400+ pips and will look to add four more shorts next week.
http://i183.photobucket.com/albums/x...9999/nzd-3.jpg
http://i183.photobucket.com/albums/x...NZDBWAVE-1.jpg
closed off all shorts and will have a small long to pass the time before going heavy short after this retracement.
http://i183.photobucket.com/albums/x...9999/nzd-4.jpg
Hi,
I assume you are in the money on your shorts.
I missed the exit at .81173 last night at 8.00pm ish.
My expectation was the US markets would go down today and risk aversion get me into the money.
I did not expect the China purchase of Italian assets story.
So we are on the opposite sides, I think as I am looking for a weaker NZD.
Hey NICE trading DA i like your disciplined approach as per usual, and it paid off in the end
roddy where have you been, trying to keep the old forum going but not much interest.
sounds like peats got a proper job and arcos not posting much.
what you been trading?
HI DA good to hear from you,i periodically have a look see on this forum but not much happening as you say apart from
your posts
at present i am short the EUR/USD FROM 1.3840 level
last year 2010 didnt trade that much fx but main focus was on small cap start up miners and some producers,
had a great run up until December. At present just have a handful of small positions. gold has had a huge run but there
is a disconnect between the commodity and stocks,in saying that the likes of OGC and other producers will be making large
gains due to the increase in gold price. I have learnt one thing and that is if the stock market gets sold down everything gets sold down! On my trading platform i can now trade oil and Gold so that gives me some more options
i have just finished reading Darvis book How i made $2000,000 in the stock market : he had a simple but effective system
how have your returns been this year and are you still trading full time?
cheers
roddy