FOREX PRO Weekly January 02-06, 2012

RahmanSL

Major
Messages
2,534
The site just give latest news as they arrive.

Example:

Friday 06 Jan 2012
------------------------------------------------------------------------------------------------------------------------
15:14 USD/JPY trades in close proximity to its 100DMA line of 77.19; trades 77.10 last

15;10 Italian PM Monti says market interest rates are still high

15:10 Italian PM Monti says Italian budget will be balanced in 2013

...etc, etc..

It helps me to keep track of news developement.
 

RahmanSL

Major
Messages
2,534
Sive has written today:

"Second, before enter in any Long trade I want to see bullish daily trend. If it will happen today with bullish engulfing and stop grabber -all the better..."

It has hit 1.2730 target just now, but both the Daily and weekly charts still indicate downward movement. Once these charts change their indicators, I guess that's when the reversal will begin.
 

Triantus Shango

Sergeant Major
Messages
1,372
rahman, since daily & weekly are long TFs, the reversal should start being apparent sooner on shorter TFs... if we wait for the longer TFs, we'll miss 1 or 200 pips. anyway, re the news site, seems exactly like the info they provide for free at forexlive.com.
 

Louis123321

Corporal
Messages
166
Lol Triantus exactly where are your buy positions? I'm still holding 2 buys at 1.28410, its feeling like a foolish move right about now.... :mad:
 

rashidin5178

Sergeant
Messages
244
not sure... am confused... but if it keeps dropping every day like this, at this rate we'll be at parity in 1 month. seems unlikely. like i said before... it's overdone. everyone and their dogs trade the euro like it's the of the world. euphoric pessimism. i can't believe this can go on like this for much longer. makes no sense. and just when i write this, it is gonna drop another 200 pips i bet. ;)
Do not confused...B&B is a continuation of trend..that's why they still drop.
Thanks and Best Regards
 

RahmanSL

Major
Messages
2,534
Exactly where is the "correct" entry level for long, I have no idea as I am not going on any long positions on this...especially with all those "good news' coming out of the US.

Ok, read back on Sive post today, especially the end part:

"...watch it closely. As I said, first and neccesary thing to see is some thrusting move on intraday chart and shifting daily trend to bullish . Until that will happen it is unsafe to enter Long, since market can just disrespect this area and run through it as hot knife through butter."

Right this very second, bothe the Daily & weekly charts show no sign of a reversal but are giving the thumbs down.
As I said, I am staying out of this one.

=========================

Triantus, I will check out that other site later.
 

Louis123321

Corporal
Messages
166
Since it just hit the 1.27000 it seems to be supporting.. If it will move down below to 1.26 i think will be the final stop, 1.2630 possibly? time to sell my house & deposit it all in my brokerage account so I can hold out this trade :rolleyes:
 

Triantus Shango

Sergeant Major
Messages
1,372
on the monthly, the price is homing in on 2650 where we got that trend line.... if that holds, then definitely it'll bounce from there if not before.

on daily, i have DS1, MS1, DS2, and FE 113.0 all clustered around [2660 - 2720].

on H4, the fib level 161.8 of [2859-3077] is holding at 2724.

on H1, oversold TI are starting to point back up and previous candle was a hammer and those 3 candles together could be an early indication of a so-called bullish reversal.

on M15, MACD is about to cross bullish.

i know these are early signs, but if the market drops like a hot knife through butter--love that expression sive used--then i'll pack my bags and head for the mountains and join the order of the repentant FX monks!
 

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