FOREX PRO Weekly January 09-13, 2012

[Triantus Shango]

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.

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

good for you. but if that guy recommended buying NOK, then USDNOK should also head down, shouldn't it? and so EURUSD should head up and hit those targets. but right now mr market seems very reluctant, to say the least. maybe the vatican will accept me, then you can call me brother triantus (see, the name already sounds latin )

 

[RahmanSL]

Bro, I wouldn't know about the EUR/NOK nor the USD/NOK coz I don't trade exotics ...but since you mentioned the NOK, it just jolted my memory.
Oh yah, one of the female funds manager mention shorting the USD/MXN at somewhere around 13.200 (I think) coz Mexico's economy is recovering faster than the US.

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Shucks! The EUR/USD seems to be range bound for now....neither up nor down. Any changes on any of your many indicators??
As I have mentioned, I am keeping watch on only two levels. If nothing happens within the next half hour, I will call it a night!

 

[Triantus Shango]

the night is still young, my friend! the technical picture on USDNOK still shows the start of a bearish trend, and EURUSD has not reversed enough to go back into bearish territory yet (in the very short term, of course) according to my indicators. so it's gonna be wait and see.

also look at that bullish thrust on EURUSD H1 that totally engulfed the previous bear candle. we are now half way back into it. oh damn!! is that an evening star??? sign of a bearish reversal?

well, as long as market holds above mid BB on both H1 and H4, and p > 3x3 > 7x7 on H4, and doesn't close below that bull candle i just mentioned, i'll stay long. there is still scope for more upside also on the momentum indicators.

have a good night, man.

 

[wapen4]

I all constantly looking at all your discussions and you use the BB regularly. What is your setting?

 

[Triantus Shango]

I all constantly looking at all your discussions and you use the BB regularly. What is your setting?

i overlay 2 BBs, that is, i have one BB set at 1 STDEV/20 periods, and the other one at 2 STDEV/20 periods, on the same chart. that way, in a uptrending market for example, if the price oscillates between the 1 and 2 STDEV band and/or doesn't break below STDEV 1 or mid BB, then you know your long is still good BUT IF and ONLY IF market hasn't reached trend exhaustion because of course, at some point price will move away from 2 STDEV BB and go back to the mid line, which is what seems to be happening right now on EURUSD H1. goddam it!!!!

 

[Triantus Shango]

and we have cloud burst!! ah-ah! i can cancel my ticket to rome ;-)

 

[forexjosa]

well, now I start to see some fundamentals sentiment reverse, that can lead to the tecnical analysis do its job. major reverse in progress?

ECB

 

[Triantus Shango]

well, now I start to see some fundamentals sentiment reverse, that can lead to the tecnical analysis do its job. major reverse in progress?

ECB

i don't know about anything major yet... we are still far from a cancellation of bearish sentiment according to sive's analysis... but with the likes of soros running their mouths at every which occasion that civilization will face armageddon, stare in the gaping maw of the abyss as it were, if the EZ should break up or the euro fail, it leads me to believe that he et al. want to put the fear of god in the politicians so that it becomes crystal clear that EZ failure is not an option. and if it ain't, then the euro should find some SPPT and bounce. how high, now that's the question.

 

[wapen4]

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?

Hi Triantus,
I have downloaded a indicator that is based on the ichimoku. It gives you in the right corner all sorts of info, possible support/resistant and also a buy/sell signal. I have not played arround with it much but maby you can find it usefull. If your background are black please change the text colour.

Happy pips

 

[Triantus Shango]

hey thanks! much appreciated.