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fraknycjr
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Ichimogul, Thank You for your reply and analysis it was very helpful. My thoughts on the .83821 were that on Sept 5th it was a drop base drop, I discounted the Aug 27th support because it was a rally base rally. At .84491 it does a rally base drop which is around the zone where I thought it would go to and turn around. I'm still very new to all this and learning a lot as I go. Thanks Frank
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I was watching a chart of the NZD/USD on the hourly time frame and What I expected to happen with the price did not work out. I'm looking for opinions of people more experienced than myself to give insight into what I missed. On 9/6/2011 the pair dropped to a demand zone at the .81994 to .82330 price zone. I expected the pair to go back to the .84571 to .85500 supply zone where I would short the pair. Instead it turned at .83821 and proceeded down and through the .81994 to .82330 price zone. I have attached the chart I am looking at. Am I not going far enough out time wise and missing levels or am I totally missing the real zones. Thanks Frank