FOREX PRO Weekly December 27-31, 2010

[ochills]

Thanks Sive

Whoa a 1000 dollars!!!!!
well when I get there, I will cross the bridge.
pls in my meta trader platform. the Fib retracement does not show 1.27 and 161.8 on my chart after drawing for gartely.I have reset the fib no but is still the same. The Fib no I input in the fib levels is there but does not display on my chart if I use the Fib retracement.
based on what I have read on harmonic there is no clear rules on how to identify bat,crab or butterfly bearish or bullish pattern, aside from the difft in Fibo level for their retracement.pls can u explain how to identify this pattern better.
thanks

 

[ochills]

Thanks Sive Once AGAIN

Size pls on the fibo retracement question I have solve it. I did not check Higher time frame I have done that and all my input is ok .thanks .pls I look forward to ans for question 2 on bat, crab and butterfly clear identification aside from the different in the fibo retacement level.
thanks

 

[Joh]

Re your E/U and GBP/U writte reports

Hope you had a Happy Christmas Sive and may 2011 be a brilliant year for you with good health and prosperity.
Thank you for all the reports you so generously share withn us (especially the written ones) learn heaps from you. Cheers joh.

 

[Sive Morten]

AUD/USD Daily Update, Wed 29, December 2010

Good morning,
I hope you've made some pips from yesterday price action on GBP, because market has shown nice thrust from 0.618 support area. So, even if you've entered from 0.382 - you should exit with no loss, or to make some profit even.
Ok, now let's shift to AUD.
On monthly time frame I've marked couple of long-term targets and both of them in 1.09-1.11 area. More imortant for us is a level of monthly overbought around 1.03.
On weekly rather is a very important price action pattern - dynamic pressure. Trend turns bearish, but price action is not. So, usually it leads to taking out the previous highs at minimum, or even to continuation of up move.
On daily time frame we can see couple of resistance levels 1.27 Fib expansion from recent swing down+daily overbought at 1.018 and 1.618 expansion at 1.033. I think that's the long term target and here is why:

Now take a look at 4-hour chart. We clearly see reverse H&S pattern, and the common target from this pattern is 1.618 expansion that is 1.033, monthly overbought, by the way and 1.618 expansion from recent swing down on daily time frame.
But currently market is very close to daily overbought and 100% target, so this is not the time to establish long positions. We can use retracement on 4-hour chart or on hourly chart from the recent swing up to enter long.
I think that market should hold this swing, if bulls are still in charge.

 

[forexjosa]

Hi Sive Morten, thank you for your insights.

May I ask if you manage accounts for customers?

I am sorry ask here, but not see any way to contact you.

Thank you.

Regards,

 

[dkami]

great job Sive

thanks for sharing your update on the audusd i love trading this pair i have a question if you would be so kind to give me your thoughts i have this pair going up to 1.1455 for completion of the D leg on the daily chart do you think it could posibly reach this sort of price level in longer term 6-12 months?

 

[Jyotiprakash Pal]

Wow Great analysis !

 

[Sive Morten]

thanks for sharing your update on the audusd i love trading this pair i have a question if you would be so kind to give me your thoughts i have this pair going up to 1.1455 for completion of the D leg on the daily chart do you think it could posibly reach this sort of price level in longer term 6-12 months?

Well, from a technical perspective it's possible, but we live in non-static world. Personally, I do not like to do Long-term analysis, because it will be adjusted anyway. My approach is to watch what market tells and use it. It's more shorter-term...
BTW, run through Giant#2 analysis, he specializes more on long term perspective then I do.

 

[avinash_forex]

Mr.Jyotiprakash

Hello Mr.Jyotiprakash,

I want to contact u but i dont know how ?
I am giving my mail id below, PLS GIVE ME U R MAIL ID OR CELL NO.
anjadhav2010@gmail.com

- Avinash

 

[avinash_forex]

Hello Mr.Jyotiprakash

Hellow Mr.Jyotiprakash
I want to contact u but how i dont know ?
below i am giving my mail id, if possible pls reply on mail and pls give u r cell.
anjadhav2010@gmail.com
-Avinash