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#Post#: 202--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 14, 2017, 7:27 pm
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Kermit was just going to put up a chart on NZD/USD -using Daily
-4 Hour and 1 Hour fibs --then trading down to the 15 min
chart-saw it mentioned someplace Don't know if it was simple or
someone else
#Post#: 203--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 14, 2017, 7:58 pm
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Simple came up with that one Jav. Its a great way to help
confirm other methods.
Sent from my LGL62VL using Tapatalk
#Post#: 204--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 14, 2017, 8:03 pm
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Hey, Jav. What are you thinking for NZD:USD? I'm thinking down,
but with dollar weakness in other pairs, maybe NZD:??? Is a
better choice.
Sent from my iPad using Tapatalk
#Post#: 205--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 14, 2017, 8:10 pm
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I vote for down on NU Kermit. The weekly is set up for a nice
drop. I have 2 shorts with a TP of .65. Conversely, pairs like
Aud/Nzd are set up for a nice pop. I'm long there with a TP of
1.11.
Sent from my LGL62VL using Tapatalk
#Post#: 206--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 15, 2017, 9:36 am
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Yen Weekly Chart
I posted this chart a while back but it's still lining up nicely
with what I've been looking at for a while. The larger channel
is still fully intact and the MACD shows a clear breakout and
retest of it's trendline. The nature of price action in general
tells us that, at minimum, the Yen will climb back towards the
100 level which will effectively tank UJ back towards 100 as
well. My target on the UJ chart is only 107 but analysis shows a
low target of 102 bare minimum.
#Post#: 207--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 15, 2017, 9:44 am
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GU Weekly Chart
Best wave count scenario is that Wave 3 down is complete here
and that GU is ready to move back up for a while towards the top
of the final expanding diagonal channel. I would expect the GU
rally to take us to 1.3256 minimum and possibly as high as
1.3766 before moving down again later, maybe as low as the FE
100 target at 0.9521.
Longs are suggested for right now since price has consolidated
at the FE 61.8 target based on the larger ABC correction
pattern.
Notice the TDI contracting triangle pattern. The next move up
should cause the TDI to break above the triangle. After that, I
always look for the TDI to move back down into the triangle
which normally forms one final low in price before heading north
for a larger bullish run.
#Post#: 208--------------------------------------------------
Re: TA Forex Trading
DIR By: javalin
Date: January 15, 2017, 12:22 pm
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Kermit i'm voting for down on nzd/usd
#Post#: 209--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 15, 2017, 3:10 pm
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We have about an hour till open but pre-market activity shows GU
took a dip down to around 1.20 in the last hour or so...an
almost 200 pip gap down. Interesting...good thing I only take
small positions on this stuff...LOL! Kermit has a great
rule...close everything out before the weekend.
But, that does put us right around a key retrace level that I
watch like a hawk...a TDI wave 4 retrace target of 71.6 on the 4
hour chart. Usually, that gives us a nice bounce afterwards.
We'll see how it goes...
#Post#: 210--------------------------------------------------
Re: TA Forex Trading
DIR By: jwilsontrade1878
Date: January 15, 2017, 3:18 pm
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Sounds crazy, but I think this gap down on GU that's gonna show
up at the opening in 45 minutes or so is gonna wind up causing
me to raise my top end target from 1.24 to 1.29.
So I did...TP now changed on my GU long to 1.29.
#Post#: 211--------------------------------------------------
Re: TA Forex Trading
DIR By: kermit42
Date: January 15, 2017, 3:59 pm
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I was just thinking--I know you play the long game and take
small positions relative to your bank so this won't matter much
to you, but to me it's a demonstration of why you don't hold
over the weekend.
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