4/3. The overnight action almost spanned the extent of the first solid part of the purple trace shown on the chart posted 25/2. The movement also ‘popping’ through the down trend line and then halting initially at the Senkou A/Kumo resistance for about +240 pips off yesterdays candle  (or maximum +500 pips for any members who did some scaling in over the past few days).

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17/2. The candle pattern mentioned yesterday has performed as expected with a rise north of maximum 170 pips in the last 24 hours.

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Update.

We saw a move off the Hammer/Doji which many experienced members played and banked very good pips. Presently the price action is against Read more…

One for our longer term member traders who like to sit with a trade.

I have been constructing a Purple Trace on Eur.Nzd weekly chart and if my calculations are correct it indicates the possibility of around 2800 pips before the end of July/August  2010. Entry to this trade could be in the short term, and off the daily candle. We will use Ichimoku Kijun to guide us on exits once this move gets underway.

I will put up a chart for the first move once I see the entry pattern.