FOREX PRO Weekly December 05-09, 2011

Triantus Shango

Sergeant Major
Messages
1,372
maybe not... EUR is touching BB std1 on H1 and DS1 pivot is right above there at 3353... usually on a retrace to BB1 with no momentum market turns around for a 2nd stab down... hopefully we'll get a double bottom with a bullish divergence on williams %R and MACD then back up. one can dream... :p
 

Triantus Shango

Sergeant Major
Messages
1,372
grasping at straws... if my posts start becoming annoying, it's because i need to keep doing something or i'll fall asleep... it's 4.30 am here :(
 

Triantus Shango

Sergeant Major
Messages
1,372
guys

is this some kind of flag on H4? and if it is, does this mean since the flag is pointing downwards, against the recent bullish trend that started at 3212, that it indicates continuation of said trend? are we going back up? or am i just become more confused by the minute?
 

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Triantus Shango

Sergeant Major
Messages
1,372
BB1 on M15 holding... and giving way to the bearish onslaught. damn it!
no wait! hodling... still holding... dare i dream...? dare i hope...?
 

Sive Morten

Special Consultant to the FPA
Messages
12,867
EUR/USD Daily Update, Fri 09, December 2011

Good morning,
Current situation on daily time frame becomes more and more bearish with reestablishing of creating Dynamic pressure and solid close below as monthly as weekly pivot points. Although we still can't exclude possibility of AB=CD retracement, but now it's odds becomes blur.
Second pattern, that could appear on daily time frame if market still will show some small retracement up is butterfly "buy".

On 4 hour time frame trend is bearish. We see breakout of low border of trianlge and retesting it from downside after hitting of AB=CD target around 1.33
Potentially we can see Gartley "222" pattern. It clearly seen on hourly chart.

Hourly trend is bullish. AB=CD will create Agreement with hourly K-resistance and trend line.
This is an area for bears to search Sell signals.
If you're bullish - then your confirmation will be taking out the high at 1.3460 and returning back into triangle body. In this case, we probably could say that this was a fake out. But taking into consideration current price action the probability of that is not too much.
 

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