Euro Forex Pro weekly 21-25 June, 2010

gibson

Private
Messages
18
thanks

Thanks sive, am greatful but you have to make you language more simpler than this that we new traders would be able to catch up. Jut tell me at what point to buy and at what point to sell...am ok.

God bless you.
 

Vix

Private, 1st Class
Messages
53
Thanks sive, am greatful but you have to make you language more simpler than this that we new traders would be able to catch up. Jut tell me at what point to buy and at what point to sell...am ok.

God bless you.

You could go trough some older posts and learn the language :)
Or you could find Joe DiNapoli book on net, and learn most of the language from there and learn more, not just follow blindly sell and buy from someone
 

Sive Morten

Special Consultant to the FPA
Messages
13,888
EUR/USD Update, Tue 22, 2010

Good morning everybody,
So, market has decided to not wait until monthly pivot point and shown us nice bearish daily engulfing pattern yesterday (see attachement). Now it at weekly pivot point 1.2304.

Now let's look at 1-hour chart. First of all, I want to attract your attention to the power of down move. Although it's not just as falling stone but rather solid still. Second, market does not reach OP yet. So, the power of initial move down makes me think that market will show another leg, may be to weekly pivot support 1 area. In the nearest term I expect that market will reach OP and then probably may bounce a bit. Anyway I do not see any Buy signals right now (may be short-term convergence, but it's not very reliable for me).
So, my plan will be as I've mentioned in the begining of this thread - If I'll see any Buy signals from weekly Pivot - I'll take them, but I suspect that this will be very short term trade due to solid previous move down. This trade, in fact, will be just a retracement from this move. I think that market can move to weekly pivot support 1 then.
 

Attachments

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Mandrake

Corporal
Messages
138
Hi guys, Monday's movement has been good the past 3 weeks. But after US Stock market closes undecided the currency market also starts to get choppy.

New guys - Do some research on your own. You need to learn as much as you can to be profitable in Forex.
 

Max Ho

Recruit
Messages
1
Hi Mandrake and all,

I'm grossly limited in terms of FA knowledge and the likes. Been trading with TA for half a year now.

Do you have any recommendations for good sites that contain analyst reports and the likes??

Thanks much in advance!
 

Sive Morten

Special Consultant to the FPA
Messages
13,888
EUR/USD Update, Wed 23, June

Hi, everybody

Market shows a solid move down and now it under weekly Pivot point. Taking in consideration the power of down move, I expect that market should reach a weekly Pivot support 1 area still although it can show some retracement up (which can be a BC-leg).

On the 4-hour chart I've marked second test of a weekly Pivot point area. It's very signful. Market has passed through weekly Pivot then tested it again, failed and move down.
So, that's being said - I think that market could show some retracement up but weekly pivot support 1 should be reached.
BTW, today is a FOMC meeting, so be carefull

Good luck
 

Attachments

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Mandrake

Corporal
Messages
138
Hi Sive, I am using HLOC for my pivot points. I know you are using HLC. Is one better than the other ? For the past 24hrs movement it seems HLC is more accurate ! Cause my pivot is at 1.2305 and the prices just move up and down like it isn't there.
 

Sive Morten

Special Consultant to the FPA
Messages
13,888
Hi Sive, I am using HLOC for my pivot points. I know you are using HLC. Is one better than the other ? For the past 24hrs movement it seems HLC is more accurate ! Cause my pivot is at 1.2305 and the prices just move up and down like it isn't there.

Hi, Mandrake
well, HLC works good to my mind. Besides, Pivot is a leading indicator. Usually, but not always of cause, O is a very close to C of a previous bar. So, it means that you includes it twice.
But this is a my view on it. If you get better results with OHLC - use it!
For me HLC is optimal.
 

Mandrake

Corporal
Messages
138
OK I got it. Thanks Sive.

Yesterday was nice upwards movement. It looks like a bread and butter wannabe on the daily chart I hope it close above 3x3 today. Do you think this is the second up swing that you are talking about ?
 
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