FOREX PRO Weekly April 15-19, 2013

[Bigbuck]

That pair is showing head and shoulders patron, combined with a channel that looks like flag. Possibly a nice short position when it pulls back to the upper border?

 

[cosmos]

Sive, Regarding the double repo sell on the daily time frame mentioned in yesterday's post, please see image attached. The red line is the 3x3 Moving Average. Why is this not a double repo sell? It has a close below, a spike up and close above, and then a close below. The daily video spoke of the 4-hr time frame, however I was referencing the daily time frame in my post. Thank you in advance.

 

[Synchronicity]

That pair is showing head and shoulders patron, combined with a channel that looks like flag. Possibly a nice short position when it pulls back to the upper border?
View attachment 8967

If you mean the messy looking H&S at the end of the channel then this would have to fail for the price to reach the top of the channel. I'm looking at the H&S succeeding and the break down out the channel starting from there.

All the best

Michael

 

[Sive Morten]

Hi Cosmos,
yes, indeed. I've skipped this ocasionally. Nice DRPO. Initially I've thought that you're asking about hourly chart.
Here I agree with you. Thank you.

 

[FreddyFX]

Looks like the EurUsd is again listening nicely to what Master Sive has figured out on his charts.

The German Finance Minister must have received a copy and made his comments at the right moment, lol.

 

[cosmos]

It's interesting when the lower time frames mimic the higher time frames. Not the greatest thrust up, but still a nice pattern. Similar Head and Shoulders pattern as well. The first image is 1-hour, the second is the daily. The red line is the 3x3 MA.

 

[BeeKay8]

This is why I hate trading on Fridays. We did not get the 4H SG we wanted and market even went up to 1.3128 but there we see the wash&rinse and I think it is safe to say DRPO "Sell" is still intact.

On daily chart, we have context for short based on this pattern among the bullish flag that has failed.

I guess we just have to wait until Monday because we simply have just run out of time here this week.

Thanks a lot for your analysis this week, Sive. I really appreciate it. Cheers!