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Magnetic Line Trading with KiwiOz

  • #61
  • Apr 22, 2014 6:30pm Apr 22, 2014 6:30pm
Bitcoin.......If history repeats "Again" my 270 target will be spot on........
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  • #62
  • Apr 22, 2014 7:23pm Apr 22, 2014 7:23pm
.The yellow line is the trend line that acts as resistance. The red line is drawn from the lowest candle before the move up to the lowest candle of the 1st retracement wave. The blue horizontal line is the target line. To find this I draw (Purple line) from the highest candle top to intersect with the red line.
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  • #63
  • Apr 22, 2014 7:32pm Apr 22, 2014 7:32pm
Ozzie is still going sideways & slowly creeping lower.....Looks very much like a wave 4........??
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  • #64
  • Apr 22, 2014 7:53pm Apr 22, 2014 7:53pm
Bitcoin......Slow & steady wins the race......
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  • #65
  • Apr 22, 2014 9:10pm Apr 22, 2014 9:10pm
Quoting KiwiOz
Ozzie is still going sideways & slowly creeping lower.....Looks very much like a wave 4........?? {image}
Bingo........
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  • #66
  • Apr 22, 2014 9:30pm Apr 22, 2014 9:30pm
Quoting KiwiOz
{quote} Bingo........ {image}
A retracement is warranted......
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  • #67
  • Apr 22, 2014 9:34pm Apr 22, 2014 9:34pm
hi OZ, could you share gbp/nzd in your method? gbp/aud flying like a rocket atm
  • #68
  • Apr 22, 2014 9:53pm Apr 22, 2014 9:53pm
Bitcoin short term targets.....
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  • #69
  • Apr 23, 2014 12:06am Apr 23, 2014 12:06am
Quoting criztaliz
hi OZ, could you share gbp/nzd in your method? gbp/aud flying like a rocket atm
Gbp/Nzd does not appear to be as positive as Gbp against the Usd & Oz yet...........I would wait for a clean break before entering a trade..
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  • #70
  • Apr 24, 2014 2:00am Apr 24, 2014 2:00am
More scalping targets hit. Note how the yellow target line was not hit. Shows the importance of not going for the "Extreme" target. Don't be greedy & you won't be left behind.
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  • #71
  • Apr 24, 2014 2:05am Apr 24, 2014 2:05am
Once the retracement is over, this should be the next target..
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  • #72
  • Apr 24, 2014 2:19am Apr 24, 2014 2:19am
Once again. The importance of eliminating the candle wicks. (Black square)
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  • #73
  • Apr 24, 2014 6:12am Apr 24, 2014 6:12am
Gold has 1220 in it's sights.........​
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  • #74
  • Apr 24, 2014 6:15am Apr 24, 2014 6:15am
I like 0.9020 as a target.........
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  • #75
  • Apr 24, 2014 7:46pm Apr 24, 2014 7:46pm
That was a classic retrace.. Not only did it work in with my lines, it also worked with the Fib's & the Daily supports n pivots. ALL almost to the pip. The train has reached the hilltop & is about to gather speed down the other side. Hop aboard, this ride will be a thriller.........

Expecting it to bounce on the Daily pivot then carry on down
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  • #76
  • Apr 26, 2014 2:42am Apr 26, 2014 2:42am
Gold.......Just a retracement...Still targeting 1220
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  • #77
  • Apr 26, 2014 4:32am Apr 26, 2014 4:32am
Quoting KiwiOz
Gold.......Just a retracement...Still targeting 1220 {image}
Hey kiwi, how do you know which tops and bottoms to use and whether you should use the tweezer or body? Hope you could share this. Rather interesting system you have there
A 1 pip gain is better than a 1 pip loss.
  • #78
  • Apr 26, 2014 4:49am Apr 26, 2014 4:49am
Quoting aeternum
{quote} Hey kiwi, how do you know which tops and bottoms to use and whether you should use the tweezer or body? Hope you could share this. Rather interesting system you have there
Usually I use the first support or resistance wave after a direction change. (Major or minor). As for the "tweezers" That is just instinct. Best to use the body in most cases.
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  • #79
  • Edited 1:27pm Apr 26, 2014 11:17am | Edited 1:27pm
Quoting KiwiOz
{quote} Usually I use the first support or resistance wave after a direction change. (Major or minor). As for the "tweezers" That is just instinct. Best to use the body in most cases.
Am I right to say, for example if it is ranging and it breaks higher, you would use the top two resistance areas? And if it is trending upwards, you would use the consolidation areas for your indicator? Does your CCI have anything to do with it?

Edit: Could you update the link where we can download your indicator? I would like to play around with it

Edit: Sorry I was looking at your gold chart and I noticed you connected the left side to a bottom and the right side to a top, what type of situation requires this?
A 1 pip gain is better than a 1 pip loss.
  • #80
  • Apr 26, 2014 11:45am Apr 26, 2014 11:45am
Quoting KiwiOz
Gold.......Just a retracement...Still targeting 1220 {image}
Dr. Oz, (in forex), 1220? what abt timing? situation in Ukraine deteriorating every day, as I know Russia holds some? US debts, what if in retaliation to Obama/EU actions putin through out some US papers on the market? They already alliancing with China trying to do business avoiding US dollar. Can you imagine the implications of it on gold? For sure Russia has some plans and it can be executed any time... I think we see some actions when EU/US sanctions bite Russians a bit more...
Thanks for your view dr. OZ
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