Forex FOREX PRO WEEKLY #2, September 09 - 13, 2019

[ED SCHAFFER]

you are my confirmation signal sive sir ..
from 2010..
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Your Hurst Cycle chart certainly looks quite interesting to me Lolly. It projected a top @ $1,522 today beforehand whilst the actual subsequent top was $1,524 @ 8:35 am EST according to TRADING VIEW. Quite accurate indeed in my opinion. It gets you out of the trade prior to the real top which is my preferred way to trade. It also projected two lower level targets @ $1,460 & $1,444. Now I do have a question about this for you Lolly please, would you say that these two lower level targets are still remaining in-force according to the HURST CYCLE trading methodology or has the rebound up to $1,524 now cancelled them out as there were also presumably two circled price targets on the chart which were also bypassed during the drop from the high @ $1,555 on September 4th on down to the recent low @ $1,485 on September 10th? I know you are still learning about this software Lolly but do you already know for sure how this works or is it yet to be determined at a future date by you? I would sincerely appreciate any light that you can throw on this subject Lolly. Perhaps the simplest way to resolve this issue for me would be to just post a second but now current 4H XAUUSD HURST CYCLE chart in reply to this post. That would presumably & probably clear up the issue for me I would think. Thanks Lolly for whatever feedback you may be able to offer. Cheerio.

 

[Sive Morten]

Greetings everybody,

So, gold indeed has shown spike to ~ 1530 area, where the top of right arm should stand. Now we have the task to clarify whether this is indeed the top of the right shoulder, or market still could proceed higher. Because it is too many things depend on this top - either market will drop to 1450 area or turns to new high.

Here is two potential scenarios. First is downside continuation. In fact, here we've got pretty nice bearish engulfing pattern, and we have uncompleted OP target. Besides if you measure the x-a swing 1.27 extension down - you'll get precisely the OP value. Thus, it is downside butterfly possible as well.

Second scenario is attempt to climb higher and finally hit 1530 level. This could happen in a shape of AB-CD. In this case our H&S should start by '222" Sell. And now we need to specify signs that could help us to recognize which one scenario is forming:

For this puprose we need to keep an eye on 1H chart and engulfing pattern. First scenario suggests that retracement here should be gradual, better in a shape of AB-CD pattern to form '222" Sell pattern. Other words speaking, we need to aviod any rally here and streight up action above 5/8 Fib level.

Conversely, if we will get this rally - we automatically turn to second scenario.

Thus, if you already have the shorts - move stops to breakeven and take at least 30% profit on your position. If you do not have anything - keep your eyes open, wait either for "222" Sell here, on 1H chart, or upside breakout to consider larger "222" Sell on 4H chart, accoroding to our second setup.

 

[Lolly Tripathy]

Hi ED SCHAFFER ..
the 4hr chart is still same with up and down target..
i will update 1hr chart if get any new target area.

 

[ED SCHAFFER]

Hi ED SCHAFFER ..
the 4hr chart is still same with up and down target..
i will update 1hr chart if get any new target area.
View attachment 44391

Thank you Lolly for your kind assistance in helping us all to better understand the HURST CYCLE system & software. I do very much like the idea that the software automatically calculates the price targets for the user. That is correct isn't it Lolly or did you yourself have to input some info to get those targets to show up on the chart? Also Lolly if you can please, I would like to know how accurate have you found the HURST CYCLE price targets to be if you have indeed had sufficient time yet to determine this? Thanks again for all of your assistance Lolly! Cheerio.