FOREX PRO Weekly January 09-13, 2012

asif faryad

Hope all of you guys and gals have a good week, i will look foward to Sives weekly view for the coming week to see where we are.

looks like the Bears are back!!!


Private, 1st Class
Well I hope you all had a Happy Friday the 13th ;) Have a great weekend and we will see what next week brings. I totally expected what happened today to happen though I missed getting in where I wanted due to lack of any good sell patterns. But this to me was classic. Long time frames are clearly bearish, daily moved to bullish, we hit resistance levels that were discussed (although not the level I wanted) and market turns and drops. Classic stop grabber. If you pay attention to the little nuances of the market and its behaviour around important levels I am starting to find that the market gives you clues. Every rally or attempted rally to the upside for the last few weeks has failed, or at least not moved as far as we would expect it too. At least that what I feel in my humble opinion. In this time Ive seen several harmonic buy patterns that have never reached normal targets or failed miserably. Eventually the market will reverse and go up for a spell or even full out reverse the major trend but until it proves this beyond a shadow of a doubt I will remain firmly planted in bear country ;) LOL Just taking sell trades on this pair when all the indicators tell me too and waiting while the bulls rally.
This is the main reason I don't like to counter trade the mid to long term trend. It has in the past most times turned and bitten me when I do.
Keep on keeping on and never give up. Learning from our mistakes is what makes us stronger and better. Play safe and as Sive says, always remember to keep your risks reasonable. That way when your wrong you don't have to sweat so much because it should be an affordable and acceptable loss.

Have a wonderful and amazing weekend my friends and fellow traders. See you next week.



Private, 1st Class
Well After two weeks of trading I am at breakeven for the month. Loser pair: eurusd. Winner pair: euraud.

Afterall I usually start on the 3º week of January, so... lets pretend I just come back to market next week. :)

Anthony Samba

Afterall I usually start on the 3º week of January, so... lets pretend I just come back to market next week.
Speaking of Next week, what is the story behind on Pivot Points when you get Weekly and Daily Pivots the same? Sive, may be you can enlighten on this. EUR/USD - Week 9 - 13 & Friday 13th have pip to pip PP's.