FOREX PRO Weekly January 09-13, 2012
- Thread starter Sive Morten
- Start date
You will not find any ea's here. It is an educational forum to learn how to trade successfully.
Triantus Shango
Sergeant Major
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short EURUSD.
asif faryad
Sergeant
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You will not find in E/A Here my friend only Triantus
) who is very passionate about trading.I most certainly have grown to like him!!
PS: Triantus sorry been a little quite as i have extended my holiday and have done a little trading ,which has been great,as it is giving me the confidence that you can have a fantastic life style with this business!!! if its approached like this and not as CASINO ROYALE LOL....
I will in due course let you Damien Rahman Yousuf have my skpe id oh and 1 other i forgot and we all should at some stage as we all live in various locations agree on a location i am happy if you guys want to come to cypruss,i am having my house renovated at the moment will be ready by year end,but there is a villa which i can rent fairly cheaply as and when.
So all of you have a think and lets try and get together as i think for all our confidence will be better.
And I THINK THE MORTEN TRADERS NAME HAS STUCK SO WE CALL OURSELVES THIS....
PS: On the business side i am short at 12760 with a small position lets see how it works out........
And triantus dont over trade!!!! as this is not good in this game, the less you trade its better in this business
Triantus Shango
Sergeant Major
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- 1,371
well, thank you asif. it seems i never sleep, doesn't it? ;-) but no worries, i don't overtrade... just watching the market like an hawk. and thanks for the generous invite. i'll give it some thought. cheers.
and thanks for the generous invite. i'll give it some thought. cheers.
Sive Morten
Special Consultant to the FPA
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EUR/USD Daily Update, Tue 10, January, 2012
Good morning, friends,
Well, looks like we've got something. Although it is a bit early to talk about move to 1.32, but some bullish pattern has appeared.
First, I want to remind you that theoretically market should not show any new lows in nearest days if it really intends to show retracement, because it has hit all targets in current area, there is not target lower, since there is no reason for new low.
Also market stands now in completement point of daily AB=CD and 1.618 extension of previous retracement - we've discussed it already.
Second reminding is that we need up trend and breakout of channel on daily time frame to speak about retracement.
Currently it has formed perfect piercing in the cloud pattern. But now it is not quite clear - is it due recent AB-CD or is it starting point of somethng big. Only following move will clear that. On daily time frame also imporatnt moment is that trend will hold bearish only till 1.2830.
4-hour trend is bullish. It tells that market is ready for a bit deeper move to upside. Nearest resistance area is 1.2830-1.2845 K-resistance that also includes pivot point.
Here is another important note. One thing that could point on potential deep retracement on daily time frame is if market will accelerate above pivot resistance 1 - 1.2975. THis is a bit eary to talk about it, but this is important. Keep an eye on it.
On hourly chart trend is also bullish. We see excellent upward start with "222" Buy pattern. Now market has achieved 0.618 target at 1.28 from AB-CD pattern. Completing point of this AB=CD coincides with K-area and pivot point, so, this will be rather strong resistance and market should respect it. I will not be surprise, if market will show 0.618 support after it will reach it.
That's being said, currently we have some bullish signs, but it is not clear yet - do they have long-term potential or not. That's why we will focus only on today's trading session. Probably market will hit 1.2830-1.2845 area and after that retracement to 1.2780-1.2740 is possible.
Good morning, friends,
Well, looks like we've got something. Although it is a bit early to talk about move to 1.32, but some bullish pattern has appeared.
First, I want to remind you that theoretically market should not show any new lows in nearest days if it really intends to show retracement, because it has hit all targets in current area, there is not target lower, since there is no reason for new low.
Also market stands now in completement point of daily AB=CD and 1.618 extension of previous retracement - we've discussed it already.
Second reminding is that we need up trend and breakout of channel on daily time frame to speak about retracement.
Currently it has formed perfect piercing in the cloud pattern. But now it is not quite clear - is it due recent AB-CD or is it starting point of somethng big. Only following move will clear that. On daily time frame also imporatnt moment is that trend will hold bearish only till 1.2830.
4-hour trend is bullish. It tells that market is ready for a bit deeper move to upside. Nearest resistance area is 1.2830-1.2845 K-resistance that also includes pivot point.
Here is another important note. One thing that could point on potential deep retracement on daily time frame is if market will accelerate above pivot resistance 1 - 1.2975. THis is a bit eary to talk about it, but this is important. Keep an eye on it.
On hourly chart trend is also bullish. We see excellent upward start with "222" Buy pattern. Now market has achieved 0.618 target at 1.28 from AB-CD pattern. Completing point of this AB=CD coincides with K-area and pivot point, so, this will be rather strong resistance and market should respect it. I will not be surprise, if market will show 0.618 support after it will reach it.
That's being said, currently we have some bullish signs, but it is not clear yet - do they have long-term potential or not. That's why we will focus only on today's trading session. Probably market will hit 1.2830-1.2845 area and after that retracement to 1.2780-1.2740 is possible.
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Triantus Shango
Sergeant Major
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good morning sive,
when you refer to 'the cloud pattern', are you talking about the ichimoku cloud?
when you refer to 'the cloud pattern', are you talking about the ichimoku cloud?
Triantus Shango
Sergeant Major
- Messages
- 1,371
also, what exactly do you mean by 'show 0.618 resistance'? do you mean a swing back to the 61.8% fib level of the AD move on H1?
Sive Morten
Special Consultant to the FPA
- Messages
- 18,635
Hi Triantus,
In fact I mean classical candlestick pattern - "piercing in the cloud". If you wish - take a look in FM School - there is nice explanation of it.
Thanks pal, support of cause, i've fixed it.
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