FOREX PRO Weekly January 09-13, 2012

[Sive Morten]

Hi Sive,
I'm very excited with your capabilities of predicting market mechanics/behaviour...I mean how do you know price maybe behave like this...not suppose like that...when many of us got no idea how to trade...especially during the initial stage of trend transformation...from bull to bear or vice versa like we have currently.
My questions are: 1. where can I obtain some sort of materials such as books, jurnals, courses etc for this interesting stuff to study.
2. If there is no books etc for this, what is the best strategy we should have to maximise our efforts for the hunt for pips.
Thanks and Best Regards.

Thanks dude, but I have all these stuff except I never visit john bollinger site yet. What I mean is how Sive know when many of us expect price should go to this direction but Sive said... wait a minute guys...price should go to that way first and touch some significant level..and after that it suppose to go to your direction. I have no idea at all...maybe due to his experience...but strong believe this wonderful kind of behaviour can be teached and there are some sources that we can refer to.
Thanks and Best Regards.

Hi Rashidin,
this is some kind of information that you hardly will find for free. This is logical, because this stuff comes from experience and experience costs much more than just theoretical issues. Even in DiNapoli book there is no much information about Market mechanics.
Personally, I do not know books to that topic. I've studied to this stuff on DiNapoli private forum. THis is the first source, second is online trading room and finally experience also, since market changes over time.

 

[rashidin5178]

Hi Rashidin,
this is some kind of information that you hardly will find for free. This is logical, because this stuff comes from experience and experience costs much more than just theoretical issues. Even in DiNapoli book there is no much information about Market mechanics.
Personally, I do not know books to that topic. I've studied to this stuff on DiNapoli private forum. THis is the first source, second is online trading room and finally experience also, since market changes over time.

Well, if this is the answer, I become more and more appreciate what you and FPA did to all of us since this is free. Thanks a lot, Sir.
Thanks and Best Regards

 

[maarnio]

<a href="http://50pipsfx.com/2012/01/10/thought-of-the-day-544/"target_blank">Just A thought</A>

Rahman,
Fundamental does not overrule technical. Since now we expect just a retracement fundamental just can't point on it. In long-term we expect downward continuation that totally agrees with fundamental picture.
If fundamental overrules technicals - pure technicals always lose money that is not the case...

Guys, currently it looks like 0.618 retracement from upward move. Currently market has no reasons to create any new lows, since it has hit already all targets in this region. So, if market will show new low, then probably retracement is postponded or even canceled. If it will hold at current level and turn to upside again, well, may be we will get what we want.

 

[Triantus Shango]

sive

i don't understand why the 61.8% extension of AB-CD is such strong RSST. i don't see any other significant RSST around 2800. what am i missing? is there any other significant RSST at 2800?

 

[Triantus Shango]

i dare make a prediction though... as i'm watching my new 'toy', the ichimoku kinko (what a beautiful indicator!), price is very close to bursting out of the cloud to the upside... so it looks more and more bullish and if it keeps going i predict market will hit at least AB=CD 100 at 2838 and 127.2 fib extensions at 2870 which is also a confluence with 38.2 and 50 fib retrace levels from the 2 previous sizable drops.

sive, do you concur?

 

[Sive Morten]

sive

i don't understand why the 61.8% extension of AB-CD is such strong RSST. i don't see any other significant RSST around 2800. what am i missing? is there any other significant RSST at 2800?

Hm, it's very difficult to explain why sometimes market has solid resistance at 0.618 and simetimes not. Probably because this is first sensible pullback during long-term bear trend, but I do not know definitely.

i dare make a prediction though... as i'm watching my new 'toy', the ichimoku kinko (what a beautiful indicator!), price is very close to bursting out of the cloud to the upside... so it looks more and more bullish and if it keeps going i predict market will hit at least AB=CD 100 at 2838 and 127.2 fib extensions at 2870 which is also a confluence with 38.2 and 50 fib retrace levels from the 2 previous sizable drops.

sive, do you concur?

Yes, now it still looks like we will see 1.2844 target hitting...

 

[Triantus Shango]

guys, latest news is:

[h=1]Good Two-Way Battle In 1.28-Teens[/h]By Jamie Coleman || January 10, 2012 at 13:15 GMT
|| 0 comments || Add comment
Easing rating concerns regarding European sovereigns (Germany and France safe for now:Fitch) helped give EUR/US the boost to present highs but traders report interest to sell from real-money (asset managers) and central banks.
Looks like we’ve bottomed for the near-term and we’re now in a scramble to get back toward a more neutral market position from heavily short levels.
It also looks as though the correlation with equities is back in force, making the algos breathe a bit easier (do they breathe?) .
Stops are mixed in with sell orders in the 1.2820/30 area, so it looks as though the battle will continue in the near-term. Small bids are at 1.2790 and 1.2765/70 on dips.


Source: Good two-way battle in 1.28-teens | ForexLive

 

[RahmanSL]

I am watching that 1.2816 level as there seems to be some resistance there and, I believe, any significant penetration past that might possible see an extension to the 1.289 level. However, I still don't see any signs on the larger time frames (i.e Daily/weekly/Monthly) to indicate that from happening.

On the downside, I am watching the 1.2716 as any downward movements past that might see us at 1.2660.

Meanwhile, I am shorting anything above 1.2800 and getting out below that level....small fish is better than no fish!

 

[Triantus Shango]

I am watching that 1.2816 level as there seems to be some resistance there and, I believe, any significant penetration past that might possible see an extension to the 1.289 level. However, I still don't see any signs on the larger time frames (i.e Daily/weekly/Monthly) to indicate that from happening.

On the downside, I am watching the 1.2716 as any downward movements past that might see us at 1.2660.

Meanwhile, I am shorting anything above 1.2800 and getting out below that level....small fish is better than no fish!

well good luck. i always keep an eye on USDNOK as it is inversely correlated to the EURUSD and right now on H1 and H4, if i am to believe the BBs, it's on the verge of a breakout to the downside, meaning USD down, EUR up. also on H4 USDNOK, the williams %R is in mid range, neither OB nor OS and pointing lower... so i'll take that as further confirmation that we are on the cusp of more upside in the EUR... and if some freak reversal happens again, then i might as well become the pope!

 

[RahmanSL]

I am shorting with very lot size...0.10 to 0.30 max....so that's not going to dent my account
But that 1.2816 level is still holding....

I watch CNBC last Sunday and some dude reccommanded shorting the EUR/NOK at 7.6900 coz due to Norway good GDP.

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

Well.......closed 4 of my short positions below the 1.2800 level....getting quite a lot of small fish