Euro Forex Pro Weekly 12-16 July, 2010
- Thread starter Sive Morten
- Start date
Oh yes, now it's reached
many people are talking about the start of upmove to the 1.2850 and finally to 1.31 level, I don't know now what to expect
Yes, about the glossary, an interesting idea, it's all up to you Sive
Allen Bailey
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Sive would it be the right move to look for bearish candles/signals to short since the 1.2760 area has been hit?
AB
AB
Cool
Thank you very much Sive for your work and for describing to us so detailed this sell pattern I think now we can call it harmonic if it reached the target today
What's in your opinion the target that this move should reach ?
Waiting your research for tomorrow
Good luck and good night
Thank you very much Sive for your work and for describing to us so detailed this sell pattern
I think now we can call it harmonic if it reached the target today What's in your opinion the target that this move should reach ?
Waiting your research for tomorrow
Good luck and good night
Sive Morten
Special Consultant to the FPA
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EUR/USD Update, Thu 15, July
Hi there,
Yesterday our short-term target has been accomplished, market has reached 1.2760 OP. Now we are at strong resistance - 1.2753 weekly Pivot resistance 1, 1.2760-1.2782 daily Fib Confluence resistance and Agreement. Besides, 1.2802 - Monthly Pivot resistance 1. I do not know what do you think, guys, but I definitely do not what to Buy here. I think that we can expect at least pull back from this area. So, how we should act here...
In fact, I have opened already short position (I don't know will I have a time to track market for enter, huh). But the proper way to act - wait for first push down and enter on a retracement. I think that s/l can be placed at 1.2820 - just above monthly Pivot resistance 1. Now about targets.
There can be 2 scenarios - first scenario is a retracement. When market reaches an OP, before move to XOP, it makes 0.618 retracement from the recent up swing. The target of this retracement is 1.24-1.2430 Confluence support.
Second scenario - is a weekly B&B trade with a target 1.22.
Anyway, I choose as a target 1.24-1.2430 area - because even if this is a weekly B&B market will bounce up from 1.24 and only after that will move to 1.22/
That's being said - enter short with s/l at 1.2820 t/p 1.2430. When market will start a move down - move stops to b/e, because it can be just a pullback from strong resistance and market can test it later again.
The major level here - 1.2670. If market will move below it - then we can say that down move has started.
I do not exclude after 1.2430 (or 1.22 if it will be a B&B) move to XOP at 1.31 - that is my favorite area to enter long-term short position. I've told about almost in every weekly research.
Best of trading to you, guys.
Hi there,
Yesterday our short-term target has been accomplished, market has reached 1.2760 OP. Now we are at strong resistance - 1.2753 weekly Pivot resistance 1, 1.2760-1.2782 daily Fib Confluence resistance and Agreement. Besides, 1.2802 - Monthly Pivot resistance 1. I do not know what do you think, guys, but I definitely do not what to Buy here. I think that we can expect at least pull back from this area. So, how we should act here...
In fact, I have opened already short position (I don't know will I have a time to track market for enter, huh). But the proper way to act - wait for first push down and enter on a retracement. I think that s/l can be placed at 1.2820 - just above monthly Pivot resistance 1. Now about targets.
There can be 2 scenarios - first scenario is a retracement. When market reaches an OP, before move to XOP, it makes 0.618 retracement from the recent up swing. The target of this retracement is 1.24-1.2430 Confluence support.
Second scenario - is a weekly B&B trade with a target 1.22.
Anyway, I choose as a target 1.24-1.2430 area - because even if this is a weekly B&B market will bounce up from 1.24 and only after that will move to 1.22/
That's being said - enter short with s/l at 1.2820 t/p 1.2430. When market will start a move down - move stops to b/e, because it can be just a pullback from strong resistance and market can test it later again.
The major level here - 1.2670. If market will move below it - then we can say that down move has started.
I do not exclude after 1.2430 (or 1.22 if it will be a B&B) move to XOP at 1.31 - that is my favorite area to enter long-term short position. I've told about almost in every weekly research.
Best of trading to you, guys.
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OK
Goog morning
Thank you Sive, your analysis are very important to me when reading tons of news and reports I think many people just wait for the market to reach the 1.31 and take there a serious short position and don't bother about the pullbacks from strong resistance levels
Will this down move continue till next week ?
Goog morning
Thank you Sive, your analysis are very important to me when reading tons of news and reports
I think many people just wait for the market to reach the 1.31 and take there a serious short position and don't bother about the pullbacks from strong resistance levels Will this down move continue till next week ?
Sive Morten
Special Consultant to the FPA
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- 18,639
Today is Thursday, I think so... I do not expect that it will be like a falling knife, although there are much macro data will be released today.
Yes, I also think so
so many pips in 2 days is too much, such a thing I saw only when the Non-Farm Payrolls were released at the beginning of June when it fell to 1.1875 Hi Guys,
Very good trading since last friday due to great US stock movement but today is choppy after last night's erratic market and undecided closing.
Eur seems to be going upwards but was stopped by monthly pivot but I think it will break later. Maybe have to wait for US pre-market open before making a decision.
By the way, I see many new names here. Welcome to the club. You will find that Sive is the best mentor in cyber space.
Oh ya Sive I would also like to comment on the embedded chart for weekly analysis. It looks superb now, much easier to read and refer to the chart at the same time.
And Sive can you do me a favor ? Dow Jones daily chart seems to have made a DRPO. I do not have the neccessary software to draw the 3x3 on DJ. Can you help me to see whether this is it ?
Very good trading since last friday due to great US stock movement but today is choppy after last night's erratic market and undecided closing.
Eur seems to be going upwards but was stopped by monthly pivot but I think it will break later. Maybe have to wait for US pre-market open before making a decision.
By the way, I see many new names here. Welcome to the club. You will find that Sive is the best mentor in cyber space.
Oh ya Sive I would also like to comment on the embedded chart for weekly analysis. It looks superb now, much easier to read and refer to the chart at the same time.
And Sive can you do me a favor ? Dow Jones daily chart seems to have made a DRPO. I do not have the neccessary software to draw the 3x3 on DJ. Can you help me to see whether this is it ?
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