FOREX PRO Weekly January 09-13, 2012

[Triantus Shango]

cool! i visited there a long time ago, went to the snake temple... amazing place. now i understand what you mean by hot, wet, and humid. i remember the climate was really tough. but let me cut the chatter here lest cosmos rips into me again.

 

[RahmanSL]

Look at that suck making a false break to the upside ...
I have closed some of my short positions earlier on and have re-enter with replacement short positions which i will close when it tries that stunt again

 

[RahmanSL]

Snake temple????...Triantus my friend, you got the wrong place..My place is not Penang...it's on the other side of the pond from there

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Business: Have you been scalping short on the upsides??? I must have opened and closed at least 10 positions by now.

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Shucks! Will have to go now...have a boat to catch....be back in 6 hours time

 

[Triantus Shango]

Snake temple????...Triantus my friend, you got the wrong place..My place is not Penang...it's on the other side of the pond from there

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

Business: Have you been scalping short on the upsides??? I must have opened and closed at least 10 positions by now.

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

Shucks! Will have to go now...have a boat to catch....be back in 6 hours time

oops! anyway, must be nice to live on an island, always warm and nice beaches. how you manage to work is beyond me.

haven't scalped anything yet as i am trying to integrate sive's approach, thus mostly playing H4 and H1.
enjoy the boat ride. man, that's awesome. i wish i were not landlocked.

 

[Sive Morten]

EUR/USD Daily Update, Thu 12, January 2012

Good morning,
our focus today will be mostly on 4-hour chart, since on daily there was not much price action. As we've said, market has not held above 0.618 support and created a new low. At the same time it mostly reminds W&R, than downward breakout.

On 4 hour chart we see potential for classical Double bottom pattern. Failure point is low of DB while classical target is the same distance as between bottom and neckline, counted to the upside. THis target coincides with pivot resistance at 1.2975

On second chart there is a Fib work to DB pattern. First, take a look that there is a solid resistance around pivot point - K-area and Agreement. Second resistance is another Agreement around 1.2908. So, I can't exclude the moment that market could not reach classical target and stop somewhere around second Agreement area.

So, this pattern is a foundation for today's trading session. Moving below 1.2664 probably will lead to further downward acceleration while upward creeping give us some hope on completement of DB.

 

[Triantus Shango]

sive

i found this on forexlive.com. a user posted:

'If the Spanish bond auction is crap, EUR/USD will break through 1.265. If its exceptionally good back up to 1.28, then back down. So sell on rallys EUR/USD. Euro bears and Euro politicians want EUR/USD to fall considerably. There have to be a series of significant acts from Europe to change its course, but Euro zone countries want it devalued to improve competitiveness.'

from a macro perspective, does this make sense?

 

[asif faryad]

sive

i found this on forexlive.com. a user posted:

'If the Spanish bond auction is crap, EUR/USD will break through 1.265. If its exceptionally good back up to 1.28, then back down. So sell on rallys EUR/USD. Euro bears and Euro politicians want EUR/USD to fall considerably. There have to be a series of significant acts from Europe to change its course, but Euro zone countries want it devalued to improve competitiveness.'

from a macro perspective, does this make sense?

Hi Buddy,

Triantus you are definately not all human!!! lol their is definately some alien matter in you!!!!

Sleep rest and play as well,Your a fx addict!!!

Dont get to absorbed my news!!! its just a comedy club!!!! Focus on what you want from the market 20 pips or 200??? or more,define the risk and walk away and check when your plan tells you to!!!!

Asif,,,,, Have a good day!!!!!!!!

 

[Ghandi1]

Hi Buddy,

Triantus you are definately not all human!!! lol their is definately some alien matter in you!!!!

Sleep rest and play as well,Your a fx addict!!!

Dont get to absorbed my news!!! its just a comedy club!!!! Focus on what you want from the market 20 pips or 200??? or more,define the risk and walk away and check when your plan tells you to!!!!

Asif,,,,, Have a good day!!!!!!!!

Hi, I agree with Asif,
It is better to look at the chart than trying to predict what will happen due to the FA. It is difficult to know what is priced in or not.

 

[Louis123321]

In my humble opinion, which seems to make me money 99% of the time except for yesterday ...... Epic fail. Market should touch just below the weekly field point as sive says, if you look at the history, this is a BIG target & should give a big support for market to retrace to at least the weekly field point.. Yesterday also I thought sell sell sell.. but then it held till asian market and remained steady, main support has only been tested twice and momentum is actually on the bulls side. Market has also broken above 1.27300 and momentum still holds.. next I will halve my TPs and split my trades, from 1.27327 i have my buys with TP 1 at 1.28000 and will let the other trail if it trails at all, moving TP to break even. Double bottom pattern (only 2 tests) plus the momentum seems to of removed current bear threat except for the last choppy test of 1.28000. which is why I think it will break 1.2800 this time, + there is clear signals using fib etc now that market should at least hit the 0.618, all other major tests preceeding these movements on the daily timeframe have jumped up to test the weekly field point, and this marker is a stronger support (altho just formed) or should i say a more 'important' place.. retracement should happen to at least touch weekly field point now imo. I will be very suprised if not, & market would be acting very strange to not do that also.........

However the main worry that could destroy this is the NEWS......thats just technical analysis, euro is constantly being dragged down by news releases so imo keep risk low whatever pattern you will follow..

Good luck to you all.

corrected: resistance replaced with 'support'... sorry.

 

[Triantus Shango]

asif, i moved to another continent just so i could spend more hours in front of the screen and not have to stay up all night. how addicted is that?