A fruitful KIWI

Good evening ladies and gentlemen

I hope you all had a wonderful day in the market and managed to get what you deserve the SM way!?

Yesterday, I left you to figure out where I had entered the trade and made over 80 pips on the Loonie. Below is the 5 min chart! See if you were correct!



So today I thought I would concentrate on a currency that doesn't feature too strongly on my watch list, but is never forgotten about just in case days like today arise. That currency is the Kiwi or the NZD! The reason why she doesn't feature as strongly is that better set ups seem to arise on her twin currency, the AUD. That is according to my TP! Of course all our TPs are personal and different! For those that are not aware, the AUD and NZD are known as twin currencies as their movements tend to mimic each other.

SO below we have the daily chart. We can see that price has been shorting since February 2008. There was a retracement in November 2008 to a RN (0.600) before a further move down to another RN (0.500) before another retracement back to the previous RN (0.600).

Recent movement includes a divergence on MACD, a strong R cluster at the VI and the RN, significant candlesticks, 2 retracements to a fib breather level and a very relevant chart pattern depending on your trading style! Swing traders with a conservative approach would have locked in a very healthy profit.

Currently MACD is below the mid line and doing lower lows. RSI has just crossed the midline. What is stochastics saying? How will this all affect price? Only by doing your own analysis and sticking, with out the slightest deviation, to your TP can entries be determined.



Today I had a healthy profit on the NZD going against the major trend. A beautiful set up appeared on the 5 min chart with similar confluences to the CAD above. But did I buy or sell? See if you can find my entry point and how many pips did I lock in?

Alright Rich. I have no doubt you will be back! You guys were a top flight team once! You will be back!

The answer to your riddle is "The best thing about the future is that it comes one day at a time!" Spot on with your answer sir! Did you trust your analysis today mate?

My riddle for today is "Know the truth and the ___ shall set you ____!"

Till tomorrow

Abundance is your Birth Right

Zaheer Anwari