FOREX PRO WEEKLY April 14-18, 2014

[Lolly Tripathy]

Thank you very much my dear sir....
but i am asking for weekly tf usdchf chart....
here it is

 

[ochills]

thanks commander as usual.
sir could you please comment on USD/CHF butterfly pattern on weekly chart drawn by Lolly Tripathy yesterday.
may we plan toward it.
thanks master, waiting for your comment.

 

[Sive Morten]

Thank you very much my dear sir....
but i am asking for weekly tf usdchf chart....
here it is
View attachment 14348

thanks commander as usual.
sir could you please comment on USD/CHF butterfly pattern on weekly chart drawn by Lolly Tripathy yesterday.
may we plan toward it.
thanks master, waiting for your comment.

Hi guys,
your butterfly stands at the top of upside retracement. So, this is not the butterfly that I like to deal with. But shape is OK.

 

[wontuno]

Finally, hint on JPY - here guys, we have confirmed DRPO "Sell" pattern. This is short-term setup, but may be it will interesting to somebody:

Cheers, Sive.
Yes, always interested with JPY pairs and crosses. Turn to SHORT I am.
Looking at the major, GBP that will make deeper retracement, so perhaps adding position to GBPJPY will make some bigger pips then

 

[ochills]

thanks for answering the question and for your comment.
Pls commander Y don't you like dealing with this type of butterfly or from your experience the type don't usually work perfectly or is it a tricky type.
pls the nuances on this will help me greatly.
thanks

 

[ochills]

Hi guys,
your butterfly stands at the top of upside retracement. So, this is not the butterfly that I like to deal with. But shape is OK.

thanks for answering the question and for your comment.
Pls commander Y don't you like dealing with this type of butterfly or from your experience the type don't usually work perfectly or is it a tricky type.
pls the nuances on this will help me greatly.
thanks

 

[Lolly Tripathy]

Thank you sive sir

 

[Sive Morten]

thanks for answering the question and for your comment.
Pls commander Y don't you like dealing with this type of butterfly or from your experience the type don't usually work perfectly or is it a tricky type.
pls the nuances on this will help me greatly.
thanks

Well, may be I'm too diggin' in details, but for me market mechanics of the pattern should match the direction of price that usually it triggers. Thus, butterfly is reversal pattern, hence - it should be either butterfly "Sell" on top or "buy" on bottom. Appearing of butterfly "Buy" at top does not match the mechanics of the pattern. THis is the same as to get reverse H&S at top. But, actually some traders trade them...