NZDUSD BIG move down expected

[montapicolhos]

Next reversal forecast @0.8611 Edited July 16, 2011 by montapicolhos
update

[ArtOfTrade]

Hi montapicolhos,

 

I see your fib from pt2 to between [email protected]. What the reason you use this 2 points ? Why not other obvious points ?

for example, If you fib the correction wave pt3 and pt4 (both green and pink), there is a confluence of 161.8% and 138.2% respectively with SnR [email protected] and your trendline green pt 3 to pink pt 3

OR

 

from begining of pt1 to pt 3, roughly come near to 127.2%.

But it was touching 123.6% ( I saw 223.6% but why no 123.6%)

Edited June 2, 2011 by ArtOfTrade

[montapicolhos]

Hi montapicolhos,

 

I see your fib from pt2 to between [email protected]. What the reason you use this 2 points ? Why not other obvious points ?

for example, If you fib the correction wave pt3 and pt4 (both green and pink), there is a confluence of 161.8% and 138.2% respectively with SnR [email protected] and your trendline green pt 3 to pink pt 3

OR

 

from begining of pt1 to pt 3, roughly come near to 127.2%.

But it was touching 123.6% ( I saw 223.6% but why no 123.6%)

Hi Artoftrade,

What I am doing is to project wave 1 from wave 2. All other waves will depend on this ones. You can see that on the various levels there is some resistence and that confirms that wave 1 and 2 maybe correct. The correct trendline should connect wave 2 and 4.The trendline above is only to see some resistance area. My entries are only on the wave 2 when possible, end of wave 4 to get wave 5 and end of wave 5- end of all wave. I dont make entries based on the trendline and i dont use any indicator or ma or rsi mac, whatever.

[ArtOfTrade]

Hi Artoftrade,

What I am doing is to project wave 1 from wave 2. All other waves will depend on this ones. You can see that on the various levels there is some resistence and that confirms that wave 1 and 2 maybe correct. The correct trendline should connect wave 2 and 4.The trendline above is only to see some resistance area. My entries are only on the wave 2 when possible, end of wave 4 to get wave 5 and end of wave 5- end of all wave. I dont make entries based on the trendline and i dont use any indicator or ma or rsi mac, whatever.

 

I glad i asked. Basically you are doing the Fib Projection.

Just happen that the length of Wave 1 is equal length to start of wave 3 to 0.6573

Thank you very much.