FOREX PRO Weekly, January 10-14, 2011

[Khan125]

Hi Sive would like your thoughts of perhaps shorting at 1.3400 or very close by.


Many thanks

 

[Maluco]

I am getting confused in here.. are we still on a retracement or we are starting an uptrend in here?

We reached an "almost" 100% extension from the Daily Fib levels!

Thank you!

 

[rasto007]

Sive, can we consider it a RRT on weekly EUR/USD? That would be a bullish signal. However we are quite overbought on daily and on lower timeframes. Plus we have reached profit objectives on several TF. Interesting moves.


Rasto

 

[Sive Morten]

EUR/USD Daily Update, Fri 14, January 2011

Good morning,
On daily time frame market has hit daily overbought. Just above the market the area of daily confluence resistance 1.34. This is a context for "Stretch" Sell pattern. At least, probabiility suggests that market could bounce from this area.
if you're bull - may be it's time to take some chips off the table, or tight stops.
On 4-hour chart we see excellent thrust to the upside. From one point of view - we can count on some Sell Signals due to daily context. From the second view - this is a nice context for scalp B&B Buy pattern and I think that 1.3260 area will be suitable for this trade. But keep in mind that this should be only scalp trade - we should not marry any Long position currently.

On hourly chart market almost has reached 1.618 target. So, personally this is an area when I will be look for Sell signals - this could be H&S, Butterfly "Sell", 3-drive Sell, 4-hour DRPO Sell. Anything...
If I'll see any, then I'll take it, because market at daily Confluence resistance and Overbought.

 

[Q-Rick]

Sive,
It appears we will have a beautiful H&S in the EUR/USD with the HEAD @ 1.3453 & NECKLINE @ 1.3320. Do you agree?

 

[Sive Morten]

Sive,
It appears we will have a beautiful H&S in the EUR/USD with the HEAD @ 1.3453 & NECKLINE @ 1.3320. Do you agree?

Yes, Rick
I'm also looking at this stuff...

 

[m0z1]

USD/CHF Weekly Double Repo

Hello Sive

Can we consider the current price action as complex double repo? Also it does look like rail road tracks on weekly chart.

Can you please give your views on that when you get a chance.

Thanks in advance.

Mili

 

[Sive Morten]

Hello Sive

Can we consider the current price action as complex double repo? Also it does look like rail road tracks on weekly chart.

Can you please give your views on that when you get a chance.

Thanks in advance.

Mili

Mili, I've said milions of times - attach the chart, if you want to discuss some pattern.

 

[m0z1]

USD/CHF Weekly Double Repo

Sorry Sive... forgot to attach the chart.

thanks
mili

 

[Baletnik]

Sorry Sive... forgot to attach the chart.

thanks
mili

Nice,

one question in this spot. There is an opinion that certain indicators work more accurately on longer time frames. Would you say it goes same for the patterns you are using (H&S, DRPO...)? I mean is DRPO on weekly chart more likely to happen than DRPO on hourly chart?

Thanks and best regards!