NZD/USD Daily Video, March 17, 2015

[Sive Morten]

Good morning,

Our short-term NZD setup will finish today probably. Recent action lets us better estimate the target:




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]

Still reservations about the validity of this trade. Even if you say that you can move your stop to breakeven beneath the 2 4hr bullish grabbers from yesterday..they then become an obvious target. If anything a large spike or whipsaw action would take place tomoro.With US $ strength at the moment trading against this trend on any short term scalp set-up..is simply not worth it Sive.

 

[Sive Morten]

Still reservations about the validity of this trade. Even if you say that you can move your stop to breakeven beneath the 2 4hr bullish grabbers from yesterday..they then become an obvious target. If anything a large spike or whipsaw action would take place tomoro.With US $ strength at the moment trading against this trend on any short term scalp set-up..is simply not worth it Sive.

Brett, this is an issue of market mechanics, how usually swings should develop. If this is true upside action - market should not return back to this area. If not - you will understand it particularly by returning. This is what you see right now. Hence our call for moving stop to b/e was correct.