Well, time and events have given mr Patrick a very nice profit.
Not knocking anyone here, just pointing out what we all know " The markets will do what the Markets (damn well ) want to do.."
So, who was right?
Patrick's analysis and profit - or Strat's Resistance level (that was sliced through like the proverbial hot knife through butter).
Add "force majeure" to the equation - tuesday's massive earthquake in New Zealand's second biggest city - and you get a rather hazy picture.
If I could post charts, I would but I can't (Linux Nerd, help please!).
Would remind all that we are NOW at a critical level on this pair. See long term charts, "2001* - a space odyssey" (at least, thats the last time this pair went "Strat" -o-spheric) !
The effect of this quake (reported here as likely to be one of the most expensive, if not the most expensive in re-insurance history, anywhere in the world) on the NZ economy?
The country is still producing commodities, but the Effect of this event on interest rates going forward from the RBNZ?
I have little idea, bit am definitely looking for PA .
* edit: just checked the charts. My memory isn't what I thought it was. Pair was last at these levels in August 2000, not 2001 (but that spoils my little joke). We closed friday 20 odd pips past the 2000 peak and haven't been above these levels since August 1992.
Check the daily - there was a potential short trade forming friday 18th and monday 21st but the events of 22nd put paid to any short - for now.
