FOREX PRO WEEKLY February 02-06, 2014

[netbusinessman]

Sir (Sive Morten) thanks for eur/usd daily update, I have Abcd pattern with inside crab pattern, is its safe if stop loss I use above its completion point just like above to 1.1600...thanks

 

[Sive Morten]

Sir (Sive Morten) thanks for eur/usd daily update, I have Abcd pattern with inside crab pattern, is its safe if stop loss I use above its completion point just like above to 1.1600...thanks View attachment 18483

Well, it seems that you have some mismatch in your analysis - you have to decide what do you trade - butterfly or AB-CD? If you trade AB-CD - you should not take short until it will reach "d' point. If you trade butterfly (as we do in our daily update) then yes, you should place stop where we said.
So, you can't combine both of these patterns particular in current situation. And probably risk/reward ratio will be not attractive in your scenario...
Hope this helps.

 

[kenclifton]

Sive Sir, what software and charting package do you use to plot your ABCD and Butterfly and other harmonic patterns? Really appreciate your daily posts!

 

[csc2009]

Thank you very much, Sive, very good insight.