FOREX PRO WEEKLY January 16-20, 2012

[arobi]

So the clues:
1. H1 Butterfly reached 127 extension = Sell
2. Weekly resistance 1 reached = Sell
3. Daily down channel braked ATM = Don't sell
4. Daily, H4, H1 trend bullish = Don't even think of selling
5. H4 "maybe" butterfly buy pattern first wing complete with reaching of 0.88 retracement = Maybe sell
6. H1 bollinger bands reached = Maybe sell
7. Daily bollinger middle reached = Maybe sell

But I've got a sense it is going down from here!
So any suggestions?

Thanks Sive for your work it's really appreciated!

 

[asif faryad]

me too short at 2817 and there is po at 2852 hope it will go down in the next hours

Good we all shooting the cowboyz!!!!!!!!

Yeah ha!!!!!!! Saddle up and lets drive the bulls back!!! BEAR POWER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

[RahmanSL]

I do not trust the pair movements....closed out all shorts at 1.28034....will look to go in shorts again later if it move back up.

 

[BeeKay8]

Price reached 127.2 and fell right back down. Failure to close above the daily downtrend channel. Perhaps the start of the bears???

 

[Triantus Shango]

well well well watch those retail stops pop like so many firecrackers. we're still in bear country.

 

[Triantus Shango]

although this may just be a re-test of the trend line from the other side perhaps, and we are just around the 61.8% retrace of the up move.

 

[Triantus Shango]

beekay, if we are talking of failure to confirm something on the daily chart, doesn't that mean failure or success to close on the daily chart? if yes, then the day is not over yet... so perhaps there will be no failure to close above the trend line if later mr market gets manic again and jumps through the roof.

 

[RahmanSL]

Shouldn't there be some sort of reversal to the downside by now??????? ........I am short at the 1.28324 levels.....

 

[asif faryad]

Shouldn't there be some sort of reversal to the downside by now??????? ........I am short at the 1.28324 levels.....

Probability is good Rahman i think maybe a couple of hours into the cowboys coming to town we may see something!

But maybe as you just dont know in this game,Strong resistance at 12840!!!

 

[Triantus Shango]

yeah, you'd think so... but now it seems we'll complete the AB=CD pattern first. but i still see the bullish divergence on USDNOK, and beginning of bearish divergence on M15 for EURUSD on MACD. it'll probably spike, longs will close, short sellers will pile in and 2750 will be in focus before we know it.