lots of talk about imbalances and volatility increases, and emerging market risk becoming more evident...
I cant help but think that NZD is very suceptible to 'flight to safety' behaviour.
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lots of talk about imbalances and volatility increases, and emerging market risk becoming more evident...
I cant help but think that NZD is very suceptible to 'flight to safety' behaviour.
Closed all by Gold trades Thursday.
Closed all by currency trades Friday.
Everything seems to be falling out of their trends with the USD firming against GBP and JPY.
Any comments[?]
I'm of the opinion that USD will correct.... but it will test 109 and 130 again at some stage kind of soon.
Pringy - re 144,169 ema
do see an enormous amount of support resistance in this narrow tunnel!
and in case anyones interested we have a number of breakouts right now on the 'tunnel method'
Aud/Usd crossed over upwards y'day but pulled back downwards this arvo before scurrying back through which now looks like a clear break...
Eur/Usd has also broken through on the upside
Usd/Jpy and USD/Chf are about to by the look of it
To stay true with Fibonacci, I'm actually using MA 233, seems to have a better correlation.
But we aren't out of the chop-chop zone yet.. it will need to break through the first 89 pip from the tunnel..
you mean your tunnel is between 144 and 233 ?
No, my tunnel is just 233 by itself. Well, plus minus 5 pips to give an impression of a tunnel :P
Oh OK! the two given emas create quite a narrow tunnel so its really just a form of MACD I guess
233 will give you fewer signals, but less whipping.
I'm enjoying working this tunnelmethod in demo but as usual its all about the filters.
Indeed, it correlates very well with a 4 hour MACD on default values.
Filters filters... let me know if you find a good one :P
So far, I've just sort of looked at the behaviour historically, and after a long run on one side of the tunnel, a cross to the other side often results in some chop-chop.
Additionally, 233 pips away from the tunnel is pretty much as far as the EURUSD can go!
I also find MA32 good as stoploss supports, and MA55 for choppy situations. (Fibonacci numbers!)
But essentially, these are all lagging indicators..
Peat.. are you any good with Elliot Waves?