FOREX PRO Weekly April 29 - May 03, 2013

[pragmatic]

Reversed H&S?

I dont know how it will turn but there is a chance that this is a reversed H&S. If it will work, the 1.618 expansion target is around 50% Resistance on Daily. Right now a SG is forming on H4. I will take that signal.

Of course. it could also be H&S Failure as DiNapoli describes it. The price was contained by 61.8% Fib and then closed below neckline. This is a confirmed Sell signal. I will take that if SG will be canceled.

PS to Dave Hanson: You did not write it but you surely blamed Sive for your loss, deep down. Blaming others will take you to even greater losses. Heads up! Green pips to you!

 

[cosmos]

Hi Ransomevm, This is just the 3x3 moving average line. (Simple Moving average set to 3 Periods with a Shift of 3). We do not have a double top any longer, but perhaps a triple top. I could be wrong, but I am still bearish on the pair to 1.2878 level since the retracements up are slower and less steep than the moves down.

Hi Cosmos, what is the curved graph indicator you are using? and plz share some more info on how you are predicting.
Thanks in advance.

 

[ransomevm]

Cosmos.. thanks am bearish as well. i am hoping to get a short near 1.31 and get a good 100 pips at least.
hoping not to get bull traps ambush me...

 

[cosmos]

yes, it is easy to get ambushed. We'll see.

 

[Bigbuck]

Don't forget the fundamentals atm guys. The expectation is that ECB will drop the interest rate and that they will maybe implement QE measures like in States and Japan, but this is all guess ofcourse... So much for the austerity measures then

For now I will stay on the sidelines and wait it out

 

[D.R.&Quinch]

If anyone wants to use this thread as a signal service they could follow it and evaluate thr analysis iver a period of time.

 

[FreddyFX]

Let's keep the thread clean and stick to ONLY the analysis.

Signal services belong with criminal brokers to cheat traders out of their money. We have enough of those already.

 

[dipest]

Thank you Sive, for the analysis!

On 1H chart the "Cup and Handle" pattern is completed. Now lets wait for the correction to enter long.

 

[nosnaj]

I started a short position at 1.3224. So far it dipped a little, is it going to go even higher? I'm thinking of scalping, or should I hold it for a longer period?

EDIT: Closed the position at 1.3196, 30 pips profit and didn't want to be greedy. In other other words, I'm a coward. No seriously, I am not equipped with enough technical knowledge and information to hold it. Waiting for 2nd May analysis to trade another day.

Thanks Sive for the profitable analysis, at least the resistance point of 1.3250 helped with the decision making!

 

[gyoezoeke]

I started a short position at 1.3224. So far it dipped a little, is it going to go even higher? I'm thinking of scalping, or should I hold it for a longer period?

EDIT: Closed the position at 1.3196, 30 pips profit and didn't want to be greedy. In other other words, I'm a coward. No seriously, I am not equipped with enough technical knowledge and information to hold it. Waiting for 2nd May analysis to trade another day.

Thanks Sive for the profitable analysis, at least the resistance point of 1.3250 helped with the decision making!

I've missed the top, I was waiting with short entry at 1.32450 now I've moved it to 1.32685..