FOREX PRO Weekly April 11-15, 2011

[Paul McConnell]

Current stoploss

Hello Alf.
I think many of us have done quite well using 1.570 (1.550) as a stoploss
on a market that needs to reach 1.4258 current if everything will remain intact
Regards,
paul

 

[Paul McConnell]

Sorry

Sorry Sive,
I jumped in before I read your post
and it was also interesting that last night Tokyo made a higher high...
Thanks for analysis!
Paul

 

[Icarus]

Hi Icarus,
The classical approach to confirmation of W pattern is close (or some closes) above the high point between bottoms. Target could be estimated twofold:
1. You can use W as A-B-C: A- first bottom, B-high between them, C - second bottom. This will give you nearest target;
2. When market will accelerate higher - you may use the most recent swing up From second bottom, and some retracement after confirmation W pattern for appointment another ABC's. This will give you more extended targets.

Thank you, Sive. This is very helpful.

 

[ertore]

Hi Sive:

I Double Repo in 1 hour time frame was since friday morning and went to the confluence zone in 1.4227 - 1.4210 more or less. Now in Daily Time Frame im expecting a Bread and Butter to buy with target 1.4450 and my entry 1.4220 with SL 1.4150. Let me know ur Opinion.

Regards,

FXDominicano