{quote} yep, must remember any S&R is only good until it fails, kiwi is tricky with negative swap, my guess that is why when there "is" a sell off its pretty violent and sustained, 2nd problem with kiwi, is she has a habit of ranging before any decent move, hence me saying range traders or scalpers should have been doing ok lately considering she has been ranging since early march, incidentally forming a mega phone presently just below the utl of the megaphone, generally megaphones are bullish @ support and bearish @ resistance I would suggest to...
monthly last months bullish encompassing normally would have rocketed by now, but looking to the left she run into previous resistance, very very tricky , bull excited about the encompassing candle and bears excited by the previous resistance
kiwi hourly - zones as defined last wednesday - the big light grey is a monthly zone seen better on monthly chart, blue box is this weeks open, purple box is this months open oranges yesterdays open and white todays open that last candle with all the aussie and yuan data is a absolutely confusion aka stop hunting candle and so far th upper range of the boxes is holding, quite often legs or wicks such as these get retested time will tell
monthly she has entered a major battle ground, probably explains that last hourly candle, but for higher timeframe traders, rr is excellent, if I can get a cluster of risk free entries in this zone I will be very happy to either have ago at the highs from 2011 or just drop from here, above this box im out and will be looking to send my assets overseas, for now money clicking on aussie
bb for brit open
If you are new to Forex? Say Goodbye to your account!!
.. at least it give us some volatility !!
