Uncle Sive,
Great analysis, but your video title of "Market could reach as low as 1.3650-1.3760 area" is a bit scary.
- Does that mean that our (Daily time frame) head and shoulders pattern has been cleared and also the ABCD pattern of A=1.3835, B=1.4223, C=1.4013 and D as 1.272 extension target of 1.4580, and that greater ABCD of A=1.3835, B=1.4524 and C=1.4051 with 100% extension just below 1.4755.
- Does recent price action suggest to us that we might have a new C point for that greater ABCD?
Hi Josiahemmy
During previous week we've pointed the suspicion that price action is not typical for H&S pattern. A bit later we've found some even stronger signs that probably it will not work.
Formally, this AB-CD that you are talking about is still valid, since C point has not been erased yet. But we have bearish context on daily time frame and strong bearish signal on weekly time frame, so currently we have no bullish context to trade Long.
- On the four hour time time frame, the ABCD move of A=1.4531 B= 1.4383 and C= 1.4468, has a 2.00 extension is close to 1.4175 area, can market hit it and turn to the upside. This will still retain the C point of the greater ABCD on the daily time frame
It's harly possible, since market has broken two confluence supports on daily time frame. Even if this reversal will happen, it will not be due this AB-CD.
- Also from your video today, on the four Hour time frame, the strong area of resistance (agreement) around the 1.4322 area, stand just some few pips above the 1.00 extension from the ABCD move of A=1.4531 B= 1.4383 and C= 1.4468, can that area serve also as a resistance alongside your analysis and give us more confidence to enter short?
Thank you Mr. Sive, I will really hope to learn and analyze like you in future. Keep up the good work
No, this fact does not have much value. Besides, market has passed through it without any respect, this level is miserably broken and it will not give us more confidence.
Hello Sive,
When do you plan on starting your own live trading sessions? Please as soon as you do let me know the details!!!
I would like to start looking at some of the other pairs that you trade. I have learned more from you then any of the paid groups that are out there. Thank you very much.
Best Regards,
Sazu
forex @ ly-core (dot) com
Sazu, actually we've tried to make an analysis on other pairs - during some time FPA has released 3 researches per week. But most forumers do not pay sufficient attention to them, so then we've decided to return to just 1 research per week...
Concerning live trading sessions, now it is a bit difficult for me, since I'm working with FPA Military School. May be when I will finish it...
Good Day Sive ..
on premarket, the EURUSD flushed down to 30 PIPS. I was wondering if the 40 PIPs limit you established to trigger your entry level at 1.4313 has been cleared.
My impression is that 1.4313 seems to be optimist. We might not probably move up so far.
Other banks assessed their entry point for a short position at 1.4230.
What is your opinion in this ?
Hi Jean,
today is a labor day in US, so market will be thin. Probably it's better to watch over price action a bit. Also, gaps on forex fill in most cases, so some upward move should happen...