FOREX PRO Weekly January 09-13, 2012

[Aldo Colombo]

Confirmation

hi sive.. thanks again for your great work.. may i know from your opinion what is the key or whats level that confirm the market has start reverse to upside?

From Sive's conclusion: breakout of daily parallel channel to upside and shifting of daily trend to bullish.

 

[BackSpace]

Guys,

I think H1 B&B Buy just appear around 50% retrace (1.2723). I'm always wrong but this time maybe not. Anybody know the target?
Thanks and Best Regards.

Target would be 12845. Simple ABCD starting at 12666

 

[Triantus Shango]

Guys,

I think H1 B&B Buy just appear around 50% retrace (1.2723). I'm always wrong but this time maybe not. Anybody know the target?
Thanks and Best Regards.

no idea, man. buckle up as we enter the cloud!

 

[Triantus Shango]

From Sive's conclusion: breakout of daily parallel channel to upside and shifting of daily trend to bullish.

right and that's a longer TF than i care to wait for. perhaps to my regret later but hey! life is short.

 

[rashidin5178]

no idea, man. buckle up as we enter the cloud!

Are we still with B&B or it just finished?
I'm still holding small lot of long position...4 pips now in red zone...
Thanks and Best Regards

 

[Triantus Shango]

Target would be 12845. Simple ABCD starting at 12666

i agree. just above and/or around the sell order and buy stops.

 

[Sive Morten]

Sive

that would be down from around 4194/4200 and 38.2% = 325x?

Very probable. If it will start at all, of cause.

forexjosa

what do the charts look like now? ;-) looks like we have the beginning of shorts covering.

also, sive, is that some kind of weird non-classic morning star pattern on the daily further indicating a potential reversal is beginning?

If focus on single candle patterns, this could be inverse hammer.

hi sive.. thanks again for your great work.. may i know from your opinion what is the key or whats level that confirm the market has start reverse to upside?

Daily trend should turn to bullish, upward breakout of parallel channel is prefferable.

hi Sive,
you discover 1.2527 as 0.786 and next support and last chance for a stronger retracement;
on the uploaded image you can see the 100%-expansion also at the 1.2450 - 1.2500 level;
would you agree to the ABC and the more recent second abc expansion or are these ABC's
not the important one's in your opinion?


thanks again!
Erich

Hi Erich, well, this extended ABC that you've mentioned is valid, but my experience tells that more reliable AB leg as initial thrusting move and CD as extension. Your ABC is combination of two different ABC's. Although it can work, but probability is on the side of simple AB-CD as I've described.

 

[Sive Morten]

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.

 

[zakiaziz]

thanks sive.. today its messy for me.. too much problem.. hope tomorrow will be better day and better trading..

 

[georgeta]

My humble opinion, as Sive said numerous times: we dont have to trade all the time. If you dont see a pattern or direction or if you have conflicting signals DONT TRADE.