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I bought in this at 1.1883 last night and its been a struggle with the signals unclear. My fortitude almost wavered, but the announcement this morning hasnt done the cross any harm and its seems to be building a base at around the 1.1900 level. Resistance will arrive at 1.20 but buying on dips could work for a few more pips yet. It is quite volatile which does mean you get the chance to buy cheap if you have the stomach for it.
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Hi Peat
I spotted a Sm Gartley on the daily, and a Harami candle pattern (after a Bearish Engulfing 12 days ago). So not sure where this one is going in the short term. I'm basically waiting to see if the recent high is taken out before making any decisions.
regards - arco
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as suggested i accumulated at around 1.1900 and have reduced a bit now...leaving some on the table tho coz AUD looks strong
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adding at these 1.990 levels
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reducing at these 1.21 levels
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Kiwi dollar is in freefall against other major currencies now. On course to hit new lows in a few months time. I suggest buying AUD/JPY and holding on.
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So with the rises over the last few days when does one start buying A$.
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This publication may help answer your question :)
Its issued weekly.
http://www.nbnz.co.nz/economics/publ...arketFocus.pdf
Regards,
Clearasmud
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Hi All
This one looks like it may be one of those Gartley / Butterfly patterns to an untrained eye.:)
Any thoughts out there
Cheers
Slam
Edit: On the daily
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Hi Slam
Not sure if you are looking at 'X' from 11/5/06, or from 6/7/06.
Although the larger is a wierd Butterfly pattern, the agreeing 'D' level from both gave a confirming point for a short and about 420 pips max presently.
I have been concentrating on the majors so sadly I didnt trade that one.
Regards - arco
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Hi Arco
No I didn't trade it either ( The right way anyhow;))
Was just looking for the end of this run, which may be now for a Gartley, or could go on to be a Butterfly.
There I go thinking out load again:D
Cheers for the reply
Slam
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Still heading lower and broken the lower support on the daily.
The reversal on this one should be nice;)
Cheers
Slam
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Hi Slam
May be a ways to go yet....but lets see how it copes with 2 TL breaks first.
13 black candles in a row must be an omen [}:)]
arco in QLD
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