FOREX PRO Weekly August 08-12, 2011

[jarod182]

Missmatch with my the ABCD points on the 04-hours analysis

Hello Mr Sive. I'm giving my first steps on Forex Analysis and I'm lucky to have your daily emails. Thanks so much. My questions are related to the 04-hours analysis, here the explanation of my doubts:

On the 04-hour analysis your

1st ABCD points
A 1.4514
B 1.4212
C 1.4438

2nd ABCD points
A 1.4438 (question 1, is my first time trying to understand your analysis, i guess A point is 1.4438 because your software doesn't allow you to put two letters on the same point, is it correct?)
B 1.4131
C 1.4355

My ABC points are shown on the first picture (ABC - ABC chart), I'm using MetaTrader 5 (I used MT4 too and showed me the same points):

1st ABCD points
A 1.45350
B 1.42293
C 1.44526

2nd ABCD points
A 1.44526
B 1.41425
C 1.43671

Then, I placed on the Second picture (2nd Chart) your 1.44440 line (red thick line) (question 2 is this a resistance line?), the 1.4048 support (green thick line) and the blue thick line with 1.4243 (question 3, What is this line? how you calculate it?)

Then on the third picture (3rd Chart) I drawn the Fib calculation (MT5 tool) from 1.4048 (0%) to 1st A point = 1.4535 (100%) and gives me 1.43490 as 0.618.
Then using the 2nd A point = 1.44526 (100%) and gives me 1.42978 as 0.618.

question 4: do you use a different software than MT5/MT4? can we know which software is the one you use? is that why we have different numbers as ABCD points? How much different can be the analysis with a difference of 10 - 20 pips on the calculation of the Fibs Levels because of the support and resistance variation?

Thanks so much Mr Sive

 

[rashidin5178]

Reverse H&S on H4

Hi Sive,

Based on your current weekly analysis, there is potential for reverse H&S pattern could occur on H4. If market accelerate to the upright in early nextweek, in what price level we can say that the right shoulder will never happen?

Thanks and Best Regards.

Have a nice weekend, Sir.

 

[davedubai]

Weekly Research

ear Sive ,

Thanks for your inputs I see a huge upward move I USDJPY and I am curious to know what triggered it. Does it have any role to play in EUR Bull appearing as you have mentioned ?

I have always observed that when risk is on USDJPY is on rise look forward to hear some fundamentals about relation between EURUSD verses USDJPY .

I do understand that its bit away from pair under discussion however your help will support my long USD at 76.95

Thanks in advance.

 

[muzammil_p]

Hi Sive,

Maybe retracement will start soon as I see H&S pattern at 5 Min chart.

Does the S&P downgrade will have big impact on opening today?

Regards,

Muzammil

 

[wade pugsley]

Sive,

Any help at all on how far up the market opened today (Sun)? Also I guess that the ECB is going to cloud things more with a new announcement.

I'm still short from Friday and taken a beating. I would love to wait for retracement to get out and then back in for the ride up but I don't know if I can stand it!

thanks for all the help every week... I have learned a lot even if this position doesn't show it!

 

[rashidin5178]

Price has gone wild...100 pips above currently from fiday close although market not open yet. oh:

Personally I think, if we have a gap and steeper angle from C to D on daily timeframe, the price could move further maybe to 1.4479 on spot market if previous low (C point) is not taken out.

By the way, I have learnt a lot about the importance of stoploss order and capital protection.

Thanks and Best Regards.

 

[Sive Morten]

Hi Sive,

Based on your current weekly analysis, there is potential for reverse H&S pattern could occur on H4. If market accelerate to the upright in early nextweek, in what price level we can say that the right shoulder will never happen?

Thanks and Best Regards.

Have a nice weekend, Sir.

Hi, Rashidin,
probably if we will see breakout of neckline of daily H&S.

ear Sive ,

Thanks for your inputs I see a huge upward move I USDJPY and I am curious to know what triggered it. Does it have any role to play in EUR Bull appearing as you have mentioned ?

I have always observed that when risk is on USDJPY is on rise look forward to hear some fundamentals about relation between EURUSD verses USDJPY .

I do understand that its bit away from pair under discussion however your help will support my long USD at 76.95

Thanks in advance.

Dave, this is due the same S&P downgrading. In fact financial world has changed, but the problem is that investors can't assess the consequences so fast.

Hi Sive,

Maybe retracement will start soon as I see H&S pattern at 5 Min chart.

Does the S&P downgrade will have big impact on opening today?

Regards,

Muzammil

Sure, this was very important event, and it will influence on the markets until investors will clearly understand what has happened...

 

[Sive Morten]

It could turn to DRPO "Sell"

Market has shown W&R on hourly chart and created new highs. So it could turn to DRPO "Sell". Watch it...

 

[Sipi]

TP?

Market has shown W&R on hourly chart and created new highs. So it could turn to DRPO "Sell". Watch it...

Hi Sive!

What would be the target of this short term short position?

THX!

 

[saka]

Mr sive, you are wonderful, I keep praying for you everyday I wake up, more grease to your elbow.