NZD/CAD - one more Kiwi pair with retracement potential


[NZDCAD monthly]

Comments

Post a Comment

Popular posts from this blog

How to trade

“I have not failed. I have just found 10,000 ways that won’t work.” – Thomas Edison I don't know about you fellow traders out there, but that is certainly how I feel about my beginnings in the financial markets. It all sounds so simple. You open almost any book about trading and read about how putting an indicatior on your chart can give you entries and exits and will make you rich. Excited about the insight you pull up your chart software and start seeing the described entries all over the place. No way to lose money with this knowledge, right? Well, it's not that easy. And how could it be? Do you really think something like "the 20 period moving average acts as support" is the essence of investing? Huh?? I mean, come on folks! It might work a few times, it might even work in the long run for some people. But the truth is: what these technical, indicator-driven strategies try to do is to exploit a statistical abnormality . Following these rules religiously is very t...
Read more

$GBPUSD chart analysis

Image
Look at the break of the massive shelf around 1.5250/1.5375 in GBPUSD. I expect this to be a meaningful change of sentiment for the currency pair. What the heck are the British doing to their money??? Next support zones as marked by the blue lines below current price: S1: ~1.5000/1.5125 S2: ~1.4850/1.4875 Of course I got long within the brokes support around 1.5375 and now I'm in trouble with this one. So I will have to figure out how to reduce the damage.
Read more

A sober look at the precious metals "bloodbath"

Image
Yes, this was a bloodbath. Yes, I am underwater for my precious metals positions last week. Yes, I survived what was the biggest weakly decline ever in gold (so I read). So time to think positively. Silver has simply dropped into another "box" as marked on this monthly chart: Of course I didn't have the patience to only trade monthly zones, so I already picked up some bad positions on the way down at weekly levels: So this is more or less what I expect: the 22.50 will hold for now and we will see a retracement up to 25.00 or 26.25 from where it can break down again to (hopefully) 20.00$. That wash-out should be enough to make silver again attractive for big investors.
Read more