FOREX PRO Weekly, January 10-14, 2011

[Sive Morten]

Sive-
Dont you see a possible butterfly buy pattern in EUR/USD with a minimum target of 1.3500?

Hi Ahmed
You show the same Butterfly that We've talked about during the month already ...

Hi Sive

On aud/usd weekly chart , looks like DRPo formed. Would you consider it valid
and should one wait for current week to close before it is confirmed.
Thanks for great weekly analysis.

Well, personally, I do not treat it as DRPO, because it has too long consolidation between penetrations and relatively small thrust. Second - it has reached 0.382 support during the first penetration.
But, nevertheless weekly period has bearish signs - MACDP failure or Stop grabber, W&R of previous highs and MACD bearish divergence.
We've discussed all these stuff in weekly research. That's why I expect to see 0.94 on AUD.

Thanks for deviating to EUR/USD.
thanks You just confirm my analysis.
pls what do u think about AUD/CAD presently experiencing a free fall.
thanks

Hi ochills,
I do not track crosses very close,but there is a post just above my daily update about particulary this pair.
Make your own analysis with charts - and we will discuss it here. Unfortunately I do not have so much free time to track all pairs closely.

 

[Khan125]

Hi Sive,

I see you tend to change your analysis on the pairs most days, I understand you like to cover a few pairs but could I ask that you post something on euro/usd each day even if you feel that the previous day was enough for the week or the following day I would find this most helpful, as I like many mainly trade Euro/Usd.


Thanks

 

[Sive Morten]

Hi Sive,

I see you tend to change your analysis on the pairs most days, I understand you like to cover a few pairs but could I ask that you post something on euro/usd each day even if you feel that the previous day was enough for the week or the following day I would find this most helpful, as I like many mainly trade Euro/Usd.


Thanks

Hi, Khan
As you understand I can't promise you that, because there are so many of you guys, and you're living from Australia to US. Those, who live in Australia and NZ, ask to cover kiwi and ausie, because they trade it. Europeans ask to cover EUR, GBP and other pairs...
But I'll try to cover EUR oftener than other pairs, at least because it one of the most tradable pairs.
In fact, our primary task - is to give you the analysis that is ready to make money on them, i.e. - particular signal or strong pattern that is developing on the market. For example, today we've talked about DRPO on 4-hour EUR chart. And this signal is still valid.

 

[cosmos]

Hi Sive, I mainly trade the EURUSD but am watching the audusd and nzdusd this week with interest. If you do not cover these two pairs today, can you say what you see in a sentence or two? Thank you for all you are doing to help us.

 

[Sive Morten]

EUR/USD Daily Update, Wed 12, January 2011

Hello everybody,
Today we will focus directly on intraday charts, because nothing new on daily time frame.

4-hour DRPO pattern has been confirmed. There is solid probability exists, that market could reach 1.3090-1.31 area - this is 3/8 Fib resistance, weekly pivot and 1.618 target of DRPO pattern. Market is oversold on daily time frame, and accomplished some targets, that we've discussed yesterday, so I suppose that 30% retracement is absolutely reasonable in current conditions.

On hourly chart I've marked support levels. According to DRPO pattern trading, I think the entrly point is 1.2940-1.2960 area, stop should be placed below 5/8 Fib support, i.e. 1.2925. Target 1.3090 area.

 

[BackSpace]

Thanks !

Dear Sive,
I follow your analysis daily and find it very clear and useful.
And I learn a lot.
A big thanks !

 

[Sive Morten]

EUR/USD Update, Thu 13, January 2011

Good morning,
EUR has done well yesterday with our DRPO Buy.
Meantime on daily time frame MACDP failure pattern could appear (current bar is not closed yet), and can add headache to Bulls.
Anyway, previous thrust up was nice, market stands above weekly pivot, and while it above some levels we can count on continuation of up move. What these levels are -

On 4-hour chart we can see two inportant support levels. 1.3036-1.3038 that is also a 50% of thrust bar. And last gasp for the bulls - 1.2970 area that is also a low of this thrust bar.
If you're bullish, you can use gradual ABCD retracement that will make an Agreement with one of these levels to enter LOng with target 1.3210.
Just couple of important things.
If market will fall like a stone, or/and it will take out the low of thrust bar 1.2970 - don't be Long.
Because in this case, possibly daily MACDP failure pattern will be confirmed and come to life.

 

[ochills]

Words are not suffcent

Pls Sive is it that rail road track(RRT) is not usually effective bcos I don't here U talk about it. pls do Show me this RRTwith a candle stick is not very clear with the Dinapol ebook. Thanks
No doubt u have greatly impact my Fx trading Style.
I say Thanks.

 

[Ingot54]

Trade the opportunity of NOW

Hi, Khan
As you understand I can't promise you that, because there are so many of you guys, and you're living from Australia to US. Those, who live in Australia and NZ, ask to cover kiwi and ausie, because they trade it. Europeans ask to cover EUR, GBP and other pairs...
But I'll try to cover EUR oftener than other pairs, at least because it one of the most tradable pairs.
In fact, our primary task - is to give you the analysis that is ready to make money on them ...

Hi Sive - love to follow your work - a very big thanks to you for your time and effort on our behalf.

Just wanted to say that as an Aussie, I don't really have any bias towards the AUD pairs for trading.

In your response to Khan, you said: "our primary task - is to give you the analysis that is ready to make money" and it is this that I most strongly support.

I don't mind which pairs you discuss, because such education is simply pointing out current opportunity, and I am grateful to accept any assistance with my trading. But I do understand that some traders like to specialise in just one or two currency pairs. So I do not mind if you decide to focus more on the majors.

Bless you mate - you are really making a difference in some lives out here.

Regards

Ivan

 

[ochills]

Sive,
@ what condition will you consider double Repo and Rail road track a failure
after it formation by price action.