I don't care how others use harmonics, i just here to make some money, thats all :) So first I short it at C, and then buy it at D. I mean, if am confident enough to draw the C, why shouldn't i trade it as well?
what are your thoughts on the election results in new zealand? dont you think the nzd will decrease in value after what Peters said?
UnknownUnicorn1118164
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@JunweiXie, Well when we look at the daily chat stretching back to August 24 2015, anything is possible as is the case with any high impact news event but i am choosing to go with price action looking back to 10th May 2016. We are currently seating at that resistance level after an impulsive move to the upside on Thursday. We had a consolidation through friday at the current level, which my mean two things when the market opens on monday: either we will see a spike up towards the next resistance levels or we open with a gaper to the downside as a short-term correction the thursday impulse and then rally up. My bet is on the latter as you can see but regardless of what happens, there will be a big sell opportunity shortly after that will enable us to recoup any losses that we incur as a result of the news event.
Lets wait and see what happens.
JunweiXie
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@wanadigital, interesting, good luck to us both :)