FOREX PRO WEEKLY August 12-16, 2013

[dkami]

well, I expect 1,3340/50 or even 1,3370/80 to short again, but will be monitoring

unless I see a higher high in d1 I have bearish bias and think this hole up move is only a retracement on D1( although was much deeper than I would have though)from the D1 bearish convergence so until I see a higher high on D1 nothing will change for me

W1 to me looks to be in a range with bullish divergence although not old enough for me to trade it if does break out just yet

so having said all this I just have to trade what I see and with a SL of about 55pips(in positive Territory now so wont give it a chance to go into negative territory I'll close it before it does) and potential TP of over 600pips on the short I'v got the RR is there for me to take the short and add to it as I see the signals

 

[minimax]

today closed 38 pips and we didnt get anywhere; Craig would do better but I am not Craig (yet!), doing my best and improving myself from day to day

 

[dkami]

H1 range old enough and suspect it will breakout US retail sales

 

[minimax]

must not forget on US retail today at 14.30 CET!! we can shake...

 

[Lolly Tripathy]

its too early to post this chart..

 

[georgeta]

Fake breakout

It just crossed my mind this idea of the fake breakout of the megaphone. I thought I shared, maybe get an opinion. Of course it would be better if the price will close below WPS1. In this case we should enter short because there is the probability of the breakout to the downside.

Second possibility is No breakout yet. In this case we should search for the moment when market will turn to the upside, before touching the lower border... maybe at Daily Confluence

 

[minimax]

Lolly, my original idea:



BUT first - this leg down MUST be C of Flat - Impulse or we get HH first and then deeper move could be expected.

Good trading!

ps
Forgot to tell: expanded triangle is useless in achieving XX target (touching W) because CAN NOT hit it because of height limit so some kind of adjustment WAS neccessary and I think my choice is good one
ps2: primary goal is to establish weekly low fractal and this is at 1,3125 with my chartist

 

[minimax]

well, decision point closing...




09.01; count changed; 2 possible counts, I am for BLUE one; retrace into 2ED looks to me a bit small...




Good trading!

 

[minimax]

from my point of view situation has not changed a lot except a bit excessive reaction on yesterdays news; I expect to sell at 1,33630, perfect confluence and agreement; of course could be wrong and instead of impulse makes ending, then I will buy around 1,3250; got me a bit on wrong foot this morning, was too early (maybe?)..

ps: lots of US news today



Good trading!

10.33: UK good news could&should push eur higher

 

[minimax]

Hehe, funny day! But I could get used to this: Frankfurt & London - sleeping, NYC - droping, Tokyo - raising!

It hit July 10th high and up! So? I wouldnt be surprise to go to new HH @ 1,3420 but this todays drop could be a and not yet Y so will be very cautios just above 1,33....

Good trading!




18.45: coincidence?