Euro Forex Pro Weekly 16-20 August, 2010

[MidnightRun]

Could you clarify something Mr. Morten: In your previous post you say that:
"On the 4-hour chart, there is a Butterfly Buy pattern that can have a 2 targets 1.2650 and 1.2615." The price did not go anywhere near the levels you mention, and nevertheless you state that the :butterfly has been accomplished"?
Thank you

 

[Erdinc]

Could you clarify something Mr. Morten: In your previous post you say that:
"On the 4-hour chart, there is a Butterfly Buy pattern that can have a 2 targets 1.2650 and 1.2615." The price did not go anywhere near the levels you mention, and nevertheless you state that the :butterfly has been accomplished"?
Thank you

The targets he mentioned are 1.2680 and 1.2620 or flat 1.2600 as you can see 1.2680 is reached there for the Butterfly pattern is acomplished . around these areas you can look for buy signals .

 

[Sive Morten]

Could you clarify something Mr. Morten: In your previous post you say that:
"On the 4-hour chart, there is a Butterfly Buy pattern that can have a 2 targets 1.2650 and 1.2615." The price did not go anywhere near the levels you mention, and nevertheless you state that the :butterfly has been accomplished"?
Thank you

I've made a mistake in the post. The target of 1.27 butterfly is 1.2680 not 1.2650.
Thanks

 

[MidnightRun]

Thanks, Mr. Morten.

 

[rasto007]

BBsignal on daily

Hi, Rasto,

What are you talking about? Our conversation with Sentinel, or what?
If about me and Sentinel's conversation, then no, this is weekly B&B. We are talking about it since June.

Sive, I had the signal on Daily in mind. Separate from your conversation with sentinel. I was just wondering whether you are riding the BB signal on daily that appeared 2 days ago. Or whether it was a BB signal at all. It seems that the thrust just before the first 3x3 penetration became kinda not very sharp.

 

[Sive Morten]

Sive, I had the signal on Daily in mind. Separate from your conversation with sentinel. I was just wondering whether you are riding the BB signal on daily that appeared 2 days ago. Or whether it was a BB signal at all. It seems that the thrust just before the first 3x3 penetration became kinda not very sharp.

Well, things become simpler if you show your analysis and I will comment it.
Like Sentinel did...
But in general, I do not classify current move down as B&B on daily chart, because the thrust on daily poor a bit.
If you want a daily B&B - better look at GBP. There I think that thrust is sufficient. We just need to wait, when it will find support and show us the reverse signals.