NZD/USD Daily Video, December 09, 2015

[Sive Morten]

Good morning,

Kiwi has completed next step on a way to the target. So, let's see what to expect next:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Brett Reynolds]

I have to say that i totally disagree with your trade analysis as from 2nd Dec to today. It's all very well saying that the original B&B set-up worked out..but you did not say 'where' you are placing your stops or TP's! Look at what happened on 2nd Dec Sive.
Market did retrace to 0.66 area perfectly (0.6620)..and started move up..but the next day market 'spiked' back down and took out the low of 2nd Dec! So if you would have moved your stop to Breakeven as you suggested on the 2nd then you would have been Stopped Out on the 3rd Dec!? Only if you 're-entered' at the end of the day on the 3rd Dec could you have managed to realise some profit from the trade. Besides which you did not mention 'where' to TP from the trade. Market reached 0.6770 area and has come crashing back down and once again taken out the 0.66 area!
Of course the overall monthly morning star set-up is still intact and market could go on to reach 0.69 or even 0.72 area but is anybody going to trade this when you have RBNZ Rate decision later today! It's a crazy Set-up with market acting like a $%£ing Yo-Yo!

 

[Lee Spaziano]

Interesting. My biggest concern would be going short on the green back going into Yellen's announcement on the 16th.

 

[abailey]

What is the dimensions on your 3x3 oversold indicator?

Thanks,

Al

 

[Sive Morten]

What is the dimensions on your 3x3 oversold indicator?

This is not oversold. This is simple 3-period MA, shifted forward for 3 periods.

I have to say that i totally disagree with your trade analysis as from 2nd Dec to today.

Brett, I'm not the prophet. Setup was excellent, as B&B as yesterday's one. Washing out by b/e stop is not a tradegy, right? Second - we could provide only general condiions for setups. Reality surely will bring adjustments and we can't foresee all of them. This is normal. If you finish with b/e stop - this is anyway better then any loss. Besides, if you've missed this trade by some reasons - no problem, there will be a lot of others. But general rules of B&B works and this is most important thing.

Also, I do not oblige anyone to follow my entry methods. I just give you long-term direction and NZD confirms that direction is correct by far (you just have said that Morning star is OK). Yes I provide some techinque and thoughts on how to take part in this journey, because they could be useful for somebody. I do this just for information But no doubts, you could use your own methods, this will be even better. Also if you would share with them here - that will be just perfect.