FX:NZDUSD   New Zealand Dollar/U.S. Dollar
240 11 0
At the the opening of today's candle I bought some Kiwis. I don't expect it to rise until the median line - but who knows. :-)
It's interesting that Gann fann, Pitchfork and 256 EMA all together indicate a bottom here.
Sorry I couldn't place my chart here properly, so I published a new one here:
CAD/JPY Heading for the Median Line
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I'm sorry, I can't read this market recently. Too choppy for me, as if hanging in the state of weightlessness, bouncing fickly up and down... My tools point downward but they also contradict each other and their reading is unreliable at this point.
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motleifaul ForceFollower
You are right. I am stopped out. Ironically CAD and JPY are the only currencies I made loss past year. Starnge, isn't it. I had thought at the end of the year whether I should drop dealing in them for a while. As you see, I didn't. And you see the result. :-(
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motleifaul motleifaul
Sorry, this comment related to my study: "Time to change"
Time to change
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ForceFollower motleifaul
That's OK. I figured it out. :-) Don't worry, your great winner is just round the corner.
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motleifaul ForceFollower
It was agreat loss behind the corner. I was stopped out with this NZDUSD. It's a pitty. I had thought that the 200-day line and the strong support at 81.15 where still far enough and the rising trend would be supportive enough to prevent from falling so far. But no, the stop I had put below the 200-day line was executed.
I don't come onto the winning side in FX this year. You shall not curse.
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ForceFollower motleifaul
And yet I believe you ARE the winner. Why? Because:
1) you honored your stop loss order, you took the loss like you should,
2) you've learned a new lesson (as long as you take notes in your trading diary).
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motleifaul ForceFollower
Unfortunately there is no lessen I could learn. I still don't see what was wrong in the analysis. The only thing: Perhaps to close to the major supports. But they were tested several times and the swing up came withe trend. I am afraid that I would do the same trade in the same situation again.
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ForceFollower motleifaul
If we're talking about CAD/JPY, there is a lesson I would learn, if I were you. As you know, I am still short here. I didn't care about the quadruple lows. What mattered to me is (at least the basic factors):
1) this market is trending down, clearly without hesitation,
2) it didn't feel like range trading, because if it did, you'd see an immediate reaction of the buyers,
3) the CAD is currently the weakest currency among the majors,
4) the JPY is exceptionally strong,
5) going at that pace, it may be heading for the Median Line, making thus to I-APP-1.000 (ie. AB=CD).
snapshot
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ForceFollower motleifaul
Again the picture.
snapshot
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