FOREX PRO WEEKLY September 16-20, 2013

[Lolly Tripathy]

Hi Lolly!
I don't think this is a butterfly, mostly because is on top and second because this is not a typical right wing action.

HI georgeta... here i am posting the previous top B'fly


Wish you plus pips dear

 

[Venelin]

I have been lurking here for a year or or 2 but I still do not fully understand stop grabber.

Sive, you say stop grabbers go in the direction of the trend, now i am totally confused as i thought it was the tails going in the opposite direction of the trend that you called stop grabbers..

Can you or anyone explain in simple terms what a stop grabber is/does and looks like one as one
of them you highlighted has no tail.

I have done a search in the forum but it does not come up with any suitable answers.

Stop Grabber explained : https://www.forexpeacearmy.com/fore...ption-january-13-2010-stop-grabber-trade.html

"Stop Grabber :

The idea of Stop grabber is as follows. In fact SG is a false trend shifting inside of some period that market does not confirm by close price. For example, if during the day daily MACD turns to bearish side, but at the end of the day it shows bullish trend by close price.
In this case those traders who have taken this "intraday" trend shift and enter short - now been trapped on a wrong way. That is a context for SG. Since trend has not changed by close price, then expected trading and price move should continue upward. This usually happens and market grab stops of those, who have entered wrongly on short side. It's a bit difficult to do using simple MACD, I even might say that this is impossible on short time frames. But it is possible on daily, and even on hourly chart "

 

[georgeta]

HI georgeta... here i am posting the previous top B'fly

Yes, it looks nice.
I think that Sive is looking for the butterflies on the exhausting of the trend for statistical reasons. There is a difference between trading for profit and pure charting.
Anyway, this previous butterfly is quite different. As you can see, there is no significant retracement after reaching of 100% expansion of the left wing.

But hey, a retracement is the reasonable expectation, so who knows...
Green pips to you too!

 

[Venelin]

Hi Sive and all,
I just want to add to NZD analysis that on Weekly and Monthly chart price is nesting right below 25x5 MA and a break above will add more certainty to the bullish development.

 

[Venelin]

Hi, I see butterfly in euro 15m./30m. chart with 161.8 sell@1.3567. Maybe that is the pattern to bring price lower and then search for buy signals!

 

[Venelin]

Hi Sive,
What do we do with this NZD dollar? It is marching higher without pulling back and I see to find resistance @ MPR3 and 78.6 around 84.60! What do you think?

 

[minimax]

Hello,

euro could really retrace here; I see 2 counts, both bullish, regardless of depth of retrace, and right one find I even more attractive but do not exclude left one with possible jump to 1,3600/20 before lower because it exceeded 61,8% expansion as first target and stucked in the middle to 100%, 161,8% find not possible...

Good trading!

 

[Venelin]

Hello,

euro could really retrace here; I see 2 counts, both bullish, regardless of depth of retrace, and right one find I even more attractive but do not exclude left one with possible jump to 1,3600/20 before lower because it exceeded 61,8% expansion as first target and stucked in the middle to 100%, 161,8% find not possible...

Good trading!

View attachment 11280

I prefer the right one, but do not exclude an ugly close tomorrow-it is an election Sunday in Germany! 1.3384 is critical for that count! Good luck!

 

[minimax]

KIWI: 0,9250 area should be massive sell...

so far, same as euro, possible PRetraceZ

 

[Sive Morten]

Hi Sive,
What do we do with this NZD dollar? It is marching higher without pulling back and I see to find resistance @ MPR3 and 78.6 around 84.60! What do you think?

Hi Venelin,
MPR3... hm I'm never look at them. As Imperior in Star Wars said - "Patience my friend..."
Well, I suppose that as market stands at weekly overbought and we have perfect thrust up on daily chart we probably could count on nice B&B "Buy" or even DRPO "Sell" on daily, that could give us chance to join the party.