FOREX PRO Weekly January 02-06, 2012

RahmanSL

Major
Messages
2,534
As usual, I have been watching market movements on the pair since the Asian market and it is not behaving as predicted by all parties. Erratic comes to mind!

In these great uncertain economic times in both the Eurozone & the US, we are pressuring poor old Sive to turn into Merlin ;)
The only thing to do, as Sive rightly posted, is to watch market movements and try to interpret these movements as best we can before entering....or do what the die-hard does and enter short on any significant (5-10pips) movement upwards :p
 
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Gartley

Recruit
Messages
1
Hi guys, this is my first post, but i read sive' s analysis every day and i'm always amazed by the accuray of it!! I'm reading the dinapoli book and i find it very interesting, now please dont take this post as spamm, but i'm a fan of harmonic trading, so gartley etc... I'm a member of tradingarsenal.com and i'd like to have your advice in that forum too, i think that triantus, rahmanSL and asyf faryad and the others are very good traders, the staff of trading arsenal is working on a project for the identification of harmonic patterns and need beta testers. Because i see that you also take note of butterfly, gartley and abcd pattern i hope that you can come and help us in the developement of this tool, also you will a lot of material for studying :) and a group of harmonic traders that are amazing! Thanks in advance and sorry for my english.

P.s
Mr. Morten i really appreciate your analisys and the fact that you do it for free, really thanks :)
 

Triantus Shango

Sergeant Major
Messages
1,372
zakiaziz, are you talking about a regular H&S, not an inverted one, right? i can see a regular H&S on my chart as well... but since we are not at the top of a bull trend--it is my understanding that H&S are trend reversal patterns, so regular H&S on top of trend indicates reversal down, and inverted H&S at bottom of trend indicates reversal up of trend--i wonder how significant that formation might be at this point in time. not sure... my gut tells me to not pay too much attention to it... but hey! what do i know?
 

Triantus Shango

Sergeant Major
Messages
1,372
sounds good gartley... where on the site should i go for this beta testing thing? time is short... no time to hunt for the page.
 

asif faryad

Sergeant
Messages
194
zakiaziz, are you talking about a regular H&S, not an inverted one, right? i can see a regular H&S on my chart as well... but since we are not at the top of a bull trend--it is my understanding that H&S are trend reversal patterns, so regular H&S on top of trend indicates reversal down, and inverted H&S at bottom of trend indicates reversal up of trend--i wonder how significant that formation might be at this point in time. not sure... my gut tells me to not pay too much attention to it... but hey! what do i know?
Hi Triantus,

Firstly my Friend to you Sive Damien Yousaf and Rahman and of course not last Felix!!! A HPPY NEW YEAR!!!! TO ALL OF YOU,I WISH ALL OF YOU SUCCESS AND PROSPERITY!!!

Well i am still in Cyprus and as i have been told by my daughter the weather is awe full in London ,so i will extend my stay by another week.

I entered 3 trades on retracement on eur/usd adding very small amounts short one at 13040 12985 12955 have closed all for a decent profit :))

I listened to Sives View and cannot agree more!! it could be a market trap!! so i personally will wait for the pair to break in one or the other direction before doing anything as its a little difficult to say if the retracement is happening or will be a bulls trap for the bears.

Probabilities Probabilities Probabilities Probabilities lol i will be sitting on the beach enjoying my free time realxing.

Bye for know everyone!!!!

Asif
 

RahmanSL

Major
Messages
2,534
Hey hey hey Asif....Happy New Year to you too and I am pretty sure you are having a great time.
I lived in Cyprus (Lymassol) very briefly back in the '80s...nice place and one of the very few places on earth where one can ski and swim in the sea (or outdoor swimming pool) all on the same day. I simply love the food there!!!


Yup, most sensible thing to do is to not hold any positions for too long...in other words, scalp that sucker as it rise & fall :p ....in actual fact, I have been doing pretty well scalping it and leaving short positions overnight (for US/Canadian & early Asian markets) with narrow TP which have all been triggered the next day.

All the best!
 

Louis123321

Corporal
Messages
166
Boom baby. just made a shed load! thanks sive :D

Is it time to enter long yet .... looking for the triggers. Anyone starting long?
 

RahmanSL

Major
Messages
2,534
I am in long at 1.2830...small position which I don't intent to keep for long.
====================

I am out again and took a short position at 1.2843...will close that out at 1.2827
 
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