FOREX PRO Weekly February 13-17, 2012

[georgeta]

long?

I hope I will not post as often as Triantus from now on

I want to share a possibility that I see for entering long:
Context:
Daily important support 38.2
Divergence with MACD on H4 (both histograms and lines) - this is a possibility and has not happened yet
H1 AB=CD
Price action looks like 3 drive buy but very distorted.

If I will see H4 trend turn bullish and W&R I will enter long.

 

[Venelin]

I hope I will not post as often as Triantus from now on

I want to share a possibility that I see for entering long:
Context:
Daily important support 38.2
Divergence with MACD on H4 (both histograms and lines) - this is a possibility and has not happened yet
H1 AB=CD
Price action looks like 3 drive buy but very distorted.

If I will see H4 trend turn bullish and W&R I will enter long.

Here is the 3 drive you mentioned -very skewed but could work IMHO
View attachment 4841

PS in 10min.if we get RRT on hourly will add congidence to longs...That could also be 30min DRPO buy!

 

[Triantus Shango]

Gartley BUY on H4, DRPO on M15

guys, we have a gartley buy on H4 that completed at ext 127.2 which also coincides with daily 38.2.

also, potential DRPO in progress on M15.

on the way up: K-area = from 3136 to 3155

 

[Venelin]

guys, we have a gartley buy on H4 that completed at ext 127.2 which also coincides with daily 38.2.

also, potential DRPO in progress on M15.

on the way up: K-area = from 3136 to 3155

Hm-no wonder market`s having hard time to hit 1.3030! Question is -"Do we have enough reasons to go long?"-Not yet

PS Watching for very short term bullish wedge combined with 30m.DRPO buy(optional)
View attachment 4843

 

[Sive Morten]

Guys,
be careful with bullish fascinating here. In fact, we do not have reasons to ENTER LONG - daily trend is bearish and we do not have bullish directional patterns. So, although I've said that this could be H&S (but could be not) - it does not matter that we have to enter long to catch 0.618 move as right shoulder. Our analysis is based on daily TF.

This is another tune if use as context hourly chart - if you have enough skills to trade it, then yes, may be you can try, but this will the task. Currently all trends are bearish (daily, 4h and hourly), market has not hit 1.618 target yet, so may be it is better to wait until this will happen...
What do you think?

I still think that we do not have 3-Drive here because of lack of harmony. The only reason that I see is Agreement of 1.618 and major 3/8 support.

 

[Triantus Shango]

sive is there any significance to this bullish butterfly on H4?

how do we reconcile current strong bearish momentum and bullish patterns like this one?

 

[Sive Morten]

sive is there any significance to this bullish butterfly on H4?

how do we reconcile current strong bearish momentum and bullish patterns like this one?

Hi Triantus,
Since butterfly is reversal pattern - bullish butterfly forms only on bottoms and bearish - on tops. Here you've drawn "222" Buy probably. This is not Bullish butterfly.

 

[Triantus Shango]

but sive, the D point is below the X point. so how could it be a gartley?

also, are you saying that even if such a pattern appears as we have here, BUT because it's not at a bottom, therefore we should disregard it? only consider bullish gartleys and variations as significant if they appear at bottoms, and vice-versa?

Hi Triantus,
Since butterfly is reversal pattern - bullish butterfly forms only on bottoms and bearish - on tops. Here you've drawn "222" Buy probably. This is not Bullish butterfly.

 

[4x4Ever]

Hello Sive and Fellow Traders. I hope your trading is going well.

I want to thank you again Mr. Morten for pushing me to more as always I'm going to try and do some more posting on the sentiment and correlation ideas I posted about. When my busy schedule allows me too of course. I dug deeper and I see some very interesting moments with the S&P. I was only able to get written out my Monthly views but I hope to post more info sooner.

In the interested of keeping these charts and ideas seperate from Sives' I started my own thread. You can view it here: https://www.forexpeacearmy.com/forex-forum/market-predictions-reports/18898-ms-correlation-study-markus.html

I hope you have a profitable day, Happy Pip'N! (o:

~Markus

 

[maarnio]

<a href="http://marketvisiontv.com/welcome/?id=8037_jEtgLNS87e86"target"_blank">Eur/Usd</A>

Sive, Do you agree with this view?