Forex FOREX PRO WEEKLY, August 26 - 30, 2019

[ED SCHAFFER]

View attachment 44107

Yes Lolly, I also would like to know what your "VLT" stands for & just briefly how it works please.
Are the lines just trendlines?

 

[Lolly Tripathy]

Hi Lolly, nice to see you again here!
Could you explain your chart. What "VTL" stands for? It seems that they are "Trend Lines"?

Yes sir it's trend line.. Showing the time how old it is. Like 10days, 2days,.. We will use it like confluence support and resistance.. Along with the target line. The dotted lines are the trend bull/bear continuation lines..

 

[Lolly Tripathy]

Yes Lolly, I also would like to know what your "VLT" stands for & just briefly how it works please.
Are the lines just trendlines?

Hi dear friend this is Hurst cycle system. We can attach this with our harmonic approaches for better results..

 

[Sive Morten]

Yes sir it's trend line.. Showing the time how old it is. Like 10days, 2days,.. We will use it like confluence support and resistance.. Along with the target line. The dotted lines are the trend bull/bear continuation lines..

Hi dear friend this is Hurst cycle system. We can attach this with our harmonic approaches for better results..

It reminds me DeMark approach to trend lines. His method classifies trendlines by its extreme points which it based on. The longer-term extreme point is, the stronger trendline.

 

[Sive Morten]

Morning guys,

It seems that our words yesterday has become a prophecy - "activity and volatility should return to market". Besides, our worryings on destruction of bullish sentiment are not in vain as well, because now we turn to our bearish scenario mentioned in weekly report. Powell's impulse appears to be very short-term.

So, everything that we've explained on dollar index chart comes to reality. Today we also talk a lot about it in video. Now we're looking south and we could get butterfly pattern and first targets are 1.0930-1.0960. This is also an area of yearly Pivot Support1. Market is not at oversold so today we easily could get challenge of daily lows and downward drop as soon as stops will be hit:

On 4H chart we have inner to butterfly AB=CD pattern with approx. the same target around 1.0960:

On 1H chart our OP target has been hit and last week rally totally erased. XOP stands at 1.10 and this is nearest target, but it is minor one and no strong reaction should happen there and EUR aimed to 1.0930 area:

 

[ED SCHAFFER]

Hi dear friend this is Hurst cycle system. We can attach this with our harmonic approaches for better results..

Hi Lolly > Thank you very much for your kind reply telling us that this is the HURST CYCLE
SYSTEM. I personally have never heard of it before but now that you have
introduced it to us all, I did investigate it further to determine if it has potential usefulness in my own trading. I will try it out for awhile. Thanks & all the best. Cheerio.

 

[Lolly Tripathy]

You welcome dear..
I am also trying to learn this system ..

 

[ED SCHAFFER]

You welcome dear..
I am also trying to learn this system ..

Hi Lolly > I see your reply to my posting. I opened up & took a look at your attached file of EUR &
I do not think that the "VIEWS" number in the "attached files" box is updating correctly on this Forex Peace Army website. So I mention this to you to not be concerned about it. I reloaded the web page twice & the views number remained at zero. Anyway, when I do get some free time later on, that is when I will try out the Hurst Cycle system. I just have way too much on my plate right now already to move forward with analyzing it now at this time but it is on my "to do list". I hope it will work out well for you Lolly. Thanks again Lolly for showing it to us all. Cheers.

 

[minimax]

I am bearish below parity but I still expect leg up before further down..
This chart is made yesterday and has no LL from today..

 

[ED SCHAFFER]

I am bearish below parity but I still expect leg up before further down..
This chart is made yesterday and has no LL from today..

Thank you Minimax for providing us with your EUR chart. I see you use Pro Real Time.com software, I will check them out. After taking just a quick review of your chart, it looks like you are using a different wave labeling nomenclature other than the standard Elliott Wave system. However, I will need time to study & interpret it further & to get back to you with any questions as they develop. Thanks for sharing this with us all. Cheerio for now.