FOREX PRO WEEKLY December 09-13, 2013

[minimax]

sive

is it possible that we have a 3-drive SELL on H1? i attached the chart to show the levels hit. there are also 2 harmonic structures better visible on higher TFs (one of which some people call 'shark') all completing at key levels where price is currently coiling at MPR1.

forgot to add that if we look at the bollinger band std 2, we get 2 possibilities at this point:

1- spike up to DPR1 and trend line of upper channel, which will push price into standard deviation extreme also coinciding with fib projections from ABCDs (visible on the left in black) and this usually is followed by drop to mid bollinger line (yellow), or

2- we get drop from levels shown in chart as we have non-bullish candles already appearing right at MPR1, 3-drive SELL, 78.6% fib hit (not shown) from most recent daily top.

or am i imagining things?

i bet first target at daily pivot = 3675.

Your chartist uses FXCM data feed,I suppose; here my count is 5 waves impulse meanwhile Dukas has ending diagonal, both H4 TF, nicer seen. I shorted yesterday @1,3718. As I said in my previous post, whipsaw is possible but not neccessary.

Kiwi also hit 20 and now we will see.

Good trading!

ps: if I am right for gold and if euro will be in correlation, then whipsaw and new high on eurois probable and then ´only´1,3675 is possible target

 

[minimax]

looks like euro is to confirm last HH, I do not expect real break, but could be wrong; my count is based on M30,5 waves up,abc correction and very probable just HH confirmation

 

[Sive Morten]

sive

is it possible that we have a 3-drive SELL on H1? i attached the chart to show the levels hit. there are also 2 harmonic structures better visible on higher TFs (one of which some people call 'shark') all completing at key levels where price is currently coiling at MPR1.

forgot to add that if we look at the bollinger band std 2, we get 2 possibilities at this point:

1- spike up to DPR1 and trend line of upper channel, which will push price into standard deviation extreme also coinciding with fib projections from ABCDs (visible on the left in black) and this usually is followed by drop to mid bollinger line (yellow), or

2- we get drop from levels shown in chart as we have non-bullish candles already appearing right at MPR1, 3-drive SELL, 78.6% fib hit (not shown) from most recent daily top.

or am i imagining things?

i bet first target at daily pivot = 3675.

Hi Triantus,
It's rather specific shape for 3-Drive, at least at my taste. Only spikes down instead of gradual move as I prefer to see. If I would trade it, I probably do not rely on this move as on "3-Drive" Sell. Besides, 3-Drive is exhausting pattern and here we get really fast acceleration with each leg and very shy retracements.

 

[minimax]

very possible euro will not go any higher...

was wrong in last post, whole move down is only one wave

we will see, soon

 

[Jyotiprakash Pal]

KIWI

Jyotiprakash Pal suggested to pay attention to nzdusd around 0,8330.
I think kiwi really could topped bFlat, there is nice agreement @0,8315, 20 is magnet and 30 is near.

Good trading!

Its missed my Pending Sale Good analysis Minimax bro .. you nailed it ..

 

[minimax]

Its missed my Pending Sale Good analysis Minimax bro .. you nailed it ..

hehe,just wanted to say only kiwi is working nicely

ps
euro starts soon, i think, but must be careful around 1,3620 if triple zz would start there somewhere

ps
kiwi could start to complicate at 0,8260 top,gold shows some up intentions, so euro could also show something what i would not like

 

[minimax]

kiwi has nice 3 black crows on H4 just before support of left 0,8260 peak, might break this support; upward formation could be really finish as flat (3-3-5)

on gold I could be wrong, made daily analysis with PRT where last daily&H4 low was not established so running flat COULD be in play on Alpari, FXCM..who knows...i expect ED, 3drive buy on H4

Good trading!

 

[minimax]

usdjpy

relatively tight stop, 40 pips




ps
cable is to watch at 20

ps cable could make top,sold

 

[minimax]

if not here, at 78,6%, then 40-50-80 pips higher............
at 1,3620 could start last leg up to finish DZZ, so carefully

 

[Triantus Shango]

well.... dollar index is showing signs of getting ready for a surge up and pierpont securities just issued a strong recommendation to take profits on e/u longs (Pierpont Securities | Finance, Capital Markets and Advisory Services | Credit Products | Rates & Mortgages | Capital Markets). they believe the e/u is topping out and it's time to start scaling into shorts. but when we look at this monthly chart of the e/u it says anything but short, rather long for the foreseeable future. maybe what they mean is short the e/u every 100 pips it goes up from here!

interestingly, the top of the ichimoku cloud comes right at the 1.272 fib extension of the Gartley SELL BC leg and bottom boundary of cloud is where WPR1 is (3772 or so). maybe that is where people will start shorting. anyway, all the levels are above 3800.