FOREX PRO Weekly December 05-09, 2011

[rashidin5178]

i just reversed and entered short @ 3409 and added up on the break of fib 61.8% [3334-3454] as i believe that this will complete the CD leg of a 3-drive buy at, at least, around 3303 which is the 127.2%.

if that level holds, reverse buy and target 342x or so.

I have a difficulty to recognize 3-drive pattern. Would appreciate if you can post a chart here.

 

[Triantus Shango]

I have a difficulty to recognize 3-drive pattern. Would appreciate if you can post a chart here.

yeah...ok hold on a sec

 

[rashidin5178]

H1 trend shift to bear now. H4 on the making but watch out for trend shifting rejection on H4.

In my humble opinion, if the current H4 bar will close below 3x3, bear has a chance to add more points.

Also just pay attention at the stoch on daily, although it is not strong indicator.

Thanks and Best Regards.

 

[Triantus Shango]

I have a difficulty to recognize 3-drive pattern. Would appreciate if you can post a chart here.

ok rashidin

here you go... but to be honest, i also have trouble finding the 3 drive patterns sometimes... so take it with a grain of salt... i'd wait for sive to confirm this.

good luck.

 

[rashidin5178]

ok rashidin

here you go... but to be honest, i also have trouble finding the 3 drive patterns sometimes... so take it with a grain of salt... i'd wait for sive to confirm this.

good luck.

I don't know whether I'm right or wrong but for me it is not quite 3-drive due to price action before that. As far as I know, 3-drive is a pattern of market exhausting. The major problem for me, the nasty huge bull bar before '3-drive' you told is not look alike price exhausting. I'm not sure whether it is exist 3-drive LAL or not? I'm sorry dude...I don't know.

Thanks and Best Regards

 

[asif faryad]

Hi Sive,

I see trendline breakout on H1, also H4. I'm not sure whether it is fake breakout or not. But it seems to me bear still lead the point.

One more thing, market start to talk about EZ break up more louder than before (I think). In fact there are some peoples just starting to prepare for contigency plan if break up truly happen.

I still hold my short position from monday. The good thing is my trade is riskless now but still the bad thing is, by holding this position, I still can't watch the movies yet.

How many of you guys still hold short position?

Thanks and Best Regards.

Hi Rashiden i was also short from Monday with a very small lot size and also today my order to short was filled at 13450. i have taken both positions of the table ....
And as Sive would say i am know sitting on my hands to see what happens next in the movie!!

Asif

 

[Triantus Shango]

I don't know whether ....

no problem. let's ask sive... hey sive! stop doing your secretary and re-focus on the market ;-) kidding kidding... when am nervous i run my mouth ;-)

 

[Triantus Shango]

one thing though... if you take a look at the USDNOK H1, it's on a nice bull run. hasn't hit Daily pivot R1 yet... about 200 pips away... my guess is that if it goes to DR1, then we'll see EURUSD plunge to 330x and then reverse... but what do i know?

 

[Triantus Shango]

guys, i have 61.8% [3334-3454] at 3380. market closed below that on H1. now is at 3376. is there any other SPPT at this level i am not seeing? why would it bounce back from here? any ideas?

 

[rashidin5178]

Hi Rashiden i was also short from Monday with a very small lot size and also today my order to short was filled at 13450. i have taken both positions of the table ....
And as Sive would say i am know sitting on my hands to see what happens next in the movie!!

Asif

one thing though... if you take a look at the USDNOK H1, it's on a nice bull run. hasn't hit Daily pivot R1 yet... about 200 pips away... my guess is that if it goes to DR1, then we'll see EURUSD plunge to 330x and then reverse... but what do i know?

Watch out previous low on H4 around 1.3330. If market will break this area, then we can talk about shorting as Sive said on update. May we watch the movies with peaceful after that?

Thanks and Best Regards.