FOREX PRO WEEKLY January 16-20, 2012

[zakiaziz]

thanks sive.. may i ask something.. butterfly sell in H1 IS STILL VALID OR NOT?

 

[Louis123321]

Ow god.. Triantus did you hold onto your sells? lol..

 

[BeeKay8]

thanks sive.. may i ask something.. butterfly sell in H1 IS STILL VALID OR NOT?

Just my input and my point of view. I think this butterfly sell is STILL VALID although the triangles are not really proportional. Target is either 127.2 or 161.8.

A break of 161.8 will negate this pattern and means that daily channel will be broken. This is a very bullish sign.

Pending short at 1.2870. My current game plan is to wait for a little bit of a retrace, maybe 10-20 pips and try to jump in on this pattern. SL 10 pips below daily PP. TP1 is 127.2, TP2 is 161.8.


EDIT: I would like to add that London just opened so I am going to wait and see how this one hour bar holds up. Maybe London will show us the true direction of this pair.....

 

[asif faryad]

or the BIG APPLE ))

 

[asif faryad]

I got out quickly on my short and am waiting for upper border to strike!!!

 

[zakiaziz]

looks like london push eur down again

 

[Triantus Shango]

sure did. am still in, and am still short. never underestimate my stubbornness.

 

[RahmanSL]

Well, German and Portugal Auctions today around Lunchtime. I hope they do not do too well

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I am trying my best to ride my short 1.27840 down to 1.2660. Anybody have any thoughts on that??? Or should I close that out now???

 

[Louis123321]

I'm also still holding my short shorts... I do not think it will pass 1.2800, it only touched it first time then went through a bit and got a big harsh push to the downside.. drops like these are what the bears are waiting for, we are not the only ones Triantus ! We shall have victory going short....! Or a margin call ...

 

[Triantus Shango]

those 2 last candles on H1, does it look like a RRT to you guys? brief pop above the trend line, grab some stops maybe, then BOOM!, downslide. 2650 here we come!