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NZD/USD

  • #10,321
  • Nov 9, 2015 11:10pm Nov 9, 2015 11:10pm
Wave (iv) of larger impulse (c) poised at the optimum retracement of 0.6182 x (iii), waiting on news? for a rally on impulse (v).
Setup long with SL at break of lower channel line.
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #10,322
  • Nov 10, 2015 1:59am Nov 10, 2015 1:59am
Quoting trademark
Good support on the NZDUSD at the 0.6500, but the bearish trend is still in place. After the current consolidation, the pair may continue lower and if it breaks below the 0.6500 it may try to go and visit the 0.6400 level. To the upside, the 0.6600 could act as resistance.
You right ! Take a look here.energy get acumulated, the price tested previous lower low and braked in a previous solid support. As you say, this is confluence with round number 0.65, a lot of traders who trade on round numbers will look for a downmove from now.

Attached Image (click to enlarge)
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Money moves the market, not an indicator.
  • #10,323
  • Nov 10, 2015 2:07am Nov 10, 2015 2:07am
Aggresive sell entry, some risky but great reward, . Cover your trade when price move 1:1.5-2.0 reward then go for trailing stop for at least 4 trading days :

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Money moves the market, not an indicator.
  • #10,324
  • Nov 10, 2015 2:52pm Nov 10, 2015 2:52pm
what a drag the last two days this currecy has been - back to congestion
  • #10,325
  • Nov 10, 2015 3:02pm Nov 10, 2015 3:02pm
Quoting Compulsive
what a drag the last two days this currecy has been - back to congestion
If you look at the AUD/NZD there is plenty to be had in that my friend.
  • #10,326
  • Nov 10, 2015 3:52pm Nov 10, 2015 3:52pm
Quoting lasty
{quote} If you look at the AUD/NZD there is plenty to be had in that my friend.
in the last two days? even more congested - to each his own
  • #10,327
  • Nov 10, 2015 6:40pm Nov 10, 2015 6:40pm
Down moves have been impulsive and the up moves are corrective, stay alert
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It takes a lot for me to IGNORE you, but you can try.
  • #10,328
  • Edited 9:56pm Nov 10, 2015 9:42pm | Edited 9:56pm
Nothing is ever as simple as it looks, but this seems like a no brainer trade to me. Short @.6574. Keeping a tight 15 pip SL as a break above here would likely pop to .6600-20 area. Beware low liquidity fake break
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Pride always comes before destruction.... -Proverbs 16:18
  • #10,329
  • Nov 10, 2015 10:03pm Nov 10, 2015 10:03pm
Quoting Expo33
Nothing is ever as simple as it looks, but this seems like a no brainer trade to me. Short @.6574. Keeping a tight 15 pip SL as a break above here would likely pop to .6600-20 area. Beware low liquidity fake break {image}
Well ....your stop is my sell
Nice HD
short from .6580

Good night
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  • #10,330
  • Nov 10, 2015 10:06pm Nov 10, 2015 10:06pm
Quoting Expo33
Nothing is ever as simple as it looks, but this seems like a no brainer trade to me. Short @.6574. Keeping a tight 15 pip SL as a break above here would likely pop to .6600-20 area. Beware low liquidity fake break {image}
I like the trade, but wider stop with lower margin. As you said, break is possible.
Mark
  • #10,331
  • Nov 10, 2015 11:33pm Nov 10, 2015 11:33pm
reversal ?
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  • #10,332
  • Nov 11, 2015 12:33am Nov 11, 2015 12:33am
time for short, tight stop, usd selling finished...
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  • #10,333
  • Nov 11, 2015 3:35pm Nov 11, 2015 3:35pm
Looks like .6550 is going to hold for a daily close -
  • #10,334
  • Nov 11, 2015 3:49pm Nov 11, 2015 3:49pm
indeed
we may see some USD depriciation thou..
Lady Yellen speaking tomorrow may want to sell some USD
  • #10,335
  • Nov 12, 2015 8:37am Nov 12, 2015 8:37am
whoever traded it - that was a nice 25 pip bounce from .6500 - still short
  • #10,336
  • Nov 12, 2015 3:24pm Nov 12, 2015 3:24pm
Quoting Compulsive
Looks like .6550 is going to hold for a daily close -
unreal - Like a magnet back to .6550
  • #10,337
  • Nov 12, 2015 3:41pm Nov 12, 2015 3:41pm
what a horrible week only 80 pips. My goodness lets go!!!
  • #10,338
  • Edited 9:07pm Nov 12, 2015 8:40pm | Edited 9:07pm
Next week 3 "red" prints for NZ: Inflation expectations, retail sales, and GDT price index, all early in the week. Hard to imagine big money will be very enthusiastic about buying the Kiwi heading into the weekend.

Also, less than a month left until the next RBNZ rate decision. After a hold last meeting coupled with pathetic FED "lift-off" nonsense scenario, well, maybe the carry traders will be reluctant to buy and hold until the New Year starts.
Pride always comes before destruction.... -Proverbs 16:18
  • #10,339
  • Nov 13, 2015 3:07am Nov 13, 2015 3:07am
As expected. London dumping the Kiwi
Pride always comes before destruction.... -Proverbs 16:18
  • #10,340
  • Nov 13, 2015 6:39am Nov 13, 2015 6:39am
BUY Limit
ENTRY 10.65098
ENTRY 20.64909
TAKE PROFIT 10.65898
TAKE PROFIT 20.66203
STOPLOSS0.64603
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