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Euro Forex Pro Weekly 12-16 July, 2010

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jul 11, 2010.

  1. luedama

    luedama Recruit

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    Dear Sive,
    great call for short term sell on Euro. Thanks a lot!

    Do you think hit the short term support area 12511-12508 with the last low on euro 12523 or we are in short term selling mode yet?

    Thanks for all.Luca
     
  2. Allen Bailey

    Allen Bailey Private

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    Thanks for the analysis Sive, it is really appreciated. Good call on the numbers.

    AB
     
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi, Luca

    Well, 1.2480-1.2511 - strong support area. Daily trend is bullish, so, personally I think that current situation is not for any Sell and Hold position. Just for scalp trade. Possibly big hourly thrust bar up is a start of up move to 1.2760. We can act as follows here - wait until hourly trend will turn bullish. If market will move above weekly pivot point - we can enter on retracement on hourly chart with s/l below weekly pivot.

    Short trade has worked out already.
     
  4. luedama

    luedama Recruit

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    Tks

    Dear Sive,

    Thanks a lot for your clear answer..too strong the stocks index SP for selling mode, there are some GAP to fill in SP, I think.
     
  5. Sive Morten

    Sive Morten Special Consultant to the FPA

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    I didn't not have enough time to post the chart.
    Here it is...
    Decpite the solid thrust bar, we have Trend change failure pattern on the hourly chart. As a result - the lows at 1.2520 area can be taken out. You may take this signal, you may not, but don't struggle it. Otherwords, currently is a bit early to enter long...
     

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  6. wade pugsley

    wade pugsley Private

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    anyone know of a way to be notified when there is a new post to this thread? either email or text. I'm having a hard time keeping up with the current information?

    Thanks
     
  7. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Market has returned above Pivot at 1.2618, possibly move to 1.2760 has started. I have a sleeping Buy order at my Demo account at 1.2610 with s/l at 1.2580. Daily trend is bullish, hourly trend is bullish. So, it seems that this is it. But, as usual, you never can be sure for 100%. Choose your poison guys.

    Hi, Wade,
    I make a daily Update usually at 8-00 in the morning of e Central European time. This is about 6 hour difference with Chicago time.

    Weekly research I post during weekend.
     
  8. Sentinel

    Sentinel Sergeant

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    Sive, once again congratulations. You predict the 200 pips move perfectly.

    I have a question. I did not recognize this trade coz I have completly different daily confluence resistance points. Could you please tell me why you skipped the following reaction points from your daily chart? or CQG automatically did it ? Many thanks..
     

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  9. Lucas Gremista

    Lucas Gremista Private, 1st Class

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    Sive,

    Market reached the 1.27 area one day before the first analysis, do you think we could scalp a short trade?
     
  10. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi, Sentinel, these reactions that you've mentioned are valid, but I skipped them because I try to hold charts as clear as possible, that's why I choose reactions that most important - they produce Confluences and/or Agreements.
    BEsides, 0.382's nodes from these reactions has been erased by market already and 0.618's are higher than my Confluence and OP. Possibly later we will take them in consideration. But they are not so important for now.

    Hi Lucas, my rule - do not haste and do not run in front of market. We'll see, if some "Sell" signals will appear. I still think that market will reach OP and Confluence resistance at 1.2760. I intend to watch for sell signals there.
     

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