FOREX PRO Weekly, December 20-24, 2010

Q-Rick

Private, 1st Class
Messages
47
Sive,

I believe we have a BULLISH H&S forming on the EUR Hourly Chart. Take a look!
 

Q-Rick

Private, 1st Class
Messages
47
Sive,

If the H&S formation is correct (and in play), target should be 1.3280

Do you agree?

Thank you,
 

Sive Morten

Special Consultant to the FPA
Messages
13,399
EUR/USD Daily Update, Wed 22, December 2010

Good morning,
during previous days EUR shows nothing really interesting, no any particular signals to trade.
On daily time frame there is only one thing that is worthy to pay attention to.
This is possible MACD Predictor failure pattern. Market has reached 0.786 Fib support and shows some signs of retracements. Yesterday trend has turned to bearsih. If today market will close above 1.3150 area trend will shift to bullish again, and people who took previous signal will be trapped in wrong possition.
Usually this pattern leads to previous extremes. In this case, I suppose 1.34 area could be reached.
On 4 hour chart we see some bullish signs - MACD bullish divergence in area of 0.786 Fib support and bullish wedge is forming. But one thing worries me - 100% expansion target 1.3043 is just below the market, so as a weekly pivot support 1. I prefer to see that market will touch it before any solid upmove, and show some bullish signal in there - W&R, RRT, DRPO buy on lower time frame or something. The target of this possible upmove will be at least weekly pivot point at 1.3265.

On hourly time frame I just want to show you some trend lines, that are in play currently. The breakout of 1.3180 line to the upside, possibly will lead to further upmove...
 

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Sive Morten

Special Consultant to the FPA
Messages
13,399
Sive, I haven't been receiving emails when your new analysis and videos go live for about a week now. Are they still being sent out?
Hi,
Yes, I make a e-mail send out with every research that I've prepared...

Inverse H&S pattern still taking shape on the Hourly. IMHO
Hi, Rick, sorry for delay, 24 hour per day is too few...
Well, during the recent time hourly H&S very often ends with right shoulder failure - so that has happened again, as you see.
That's why I prefer to wait until H&S starts to form in area of Fib expansion target of higher time frame. This should be 100% Fib expansion or 1.618, but not a 0.618.
Or, wait for classical confirmation - breakout of a neck line...
 

lento78

Recruit
Messages
1
Hi Sive,
I'm new in FX and have lots to learn!

Can you explain why you say:
"If today market will close above 1.3150 area trend will shift to bullish again" ?

And yesterday, what did you mean by: "[weekly ?] pivots trade by the market in 70% of cases"

Thanks,
 

Jyotiprakash Pal

Sergeant
Messages
225
Hi Sive,
I'm new in FX and have lots to learn!

Can you explain why you say:
"If today market will close above 1.3150 area trend will shift to bullish again" ?
Read this book. .. Joe Dinapoli - Trading with DiNapoli Levels ..

And yesterday, what did you mean by: "[weekly ?] pivots trade by the market in 70% of cases"

He mean Market 70% time hit Piviot points before going another direction
Example : if Eur/Usd falling .. Piviot is 1.3170 ... Market will touch 1.3170 70% of time before go Upside(rise) !


Thanks,
Thank you sir :) regards
 

ochills

Master Sergeant
Messages
278
Good day Sive

pls Sive
Can one get detrended oscillator in MT4 platform bcos I have search for it but I cannot find one.concerning oscillator predictor pls can u recommend where I can purchase it.
thanks
 

Sive Morten

Special Consultant to the FPA
Messages
13,399
EUR/USD Daily Update, Thu 23, December 2010.

Good morning,
Yesterday market as formed an inside trading day compares to Tue. Usually, it leads to strong moves in one or other direction sooner rather than later, but on the eve of the holidays, this expactation could be skewed. Market could coiling and stays thin due to this reason. So, be careful - better to reduce trading volume or stay aside.
Also on daily time frame MACD Predictor failure is still possible, may be it will form today. In this case we can count on move to 1.34 area - daily Confluence resistance and 0.618 target.
on 4-hour and hourly chart we see another bullish sign - market has not reached 100% expansion target from couple different ABC's patterns and turn to upside. Also you can see that it has not touched the lower border of bullish wedge. This is a bullish sign.
On the last hourly chart we can see nice Butterfly Sell is forming with the target around 1.3250 area. So, if you still intend to take this signal, better place stops below 0.618 support from the last swing up. If butterfly will fail you will not loose much. But if you will be right - 1.3250 is a solid move.
 

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Sive Morten

Special Consultant to the FPA
Messages
13,399
pls Sive
Can one get detrended oscillator in MT4 platform bcos I have search for it but I cannot find one.concerning oscillator predictor pls can u recommend where I can purchase it.
thanks
Hi Ochills,
I've said that there is no appropriate DiNapoli indicator's pack for MT4. You can find some look-alike indicatiors in the net, and they call different, because the names of indicators are protected by law.
The major problem with them, however, that you do not know - does the formula really correct or not, because it was not approved by DiNapoli.
Such indicators exist , but
Unfortunately we can't recommend here bootleg indicators.
 
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