FOREX PRO WEEKLY January 16-20, 2012

[RahmanSL]

Yup, no reaction to news on Greece probable default on their March 20th bond payment...I think the market is simple jaded by all bad news regarding the EZ...

I am waiting for the H1 to show some white candle before I go all out to short anything that moves upwards...I have added some more ammunition into my main trading account and is ready on the word "Go"

 

[Triantus Shango]

now here is something interesting.... the kumo, that is, the ichimoku cloud has been pierced through on H1 with all the other crossing signals = TRUE as well BUT, the crossings happened under the cloud, so it is considered a weak bull trend.

furthermore, on H4, the cloud has not been penetrated BUT is holding mr market back as it provides RSST (price is just at the edge of the cloud). and since the cloud is usually considered as defining significant RSST or SPPT levels and unless the market pass through it cleanly, the trend has not shifted.

so, if that is to be so, i forecast a drop back down to the figure which also would be in agreement with the 61.8 retrace from today's move up.

interestingly, same situation on EURJPY. and EURJPY stopped cold at 61.8% level.

 

[pathfinda]

I see the exact same thing. I allready went short at 1.27803 and am now waiting to see if analysis will hold.

 

[RahmanSL]

Triantus, I fully agree with you on that "...I forecast a drop back down to the figure which also would be in agreement with the 61.8 retrace from today's move up."

All these weeks, the higher time frames are unfazed by any so called "good news" coming from the EU and are frozen in the thumbs down signal.

As I said, all I am waiting for is for the candle to turn decidedly white on the H1 chart, and if the same thing happen on the H4 too...holahlah..hell would be next stop I reckon!

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Oh S@*#! I keep placing trades on the WRONG pair...I wanted to take a short on the EUR/USD at 1.2788 and went in on the AUD/USD instead...now I have missed the boat! Really s@*#!

 

[Triantus Shango]

Oh S@*#! I keep placing trades on the WRONG pair...I wanted to take a short on the EUR/USD at 1.2788 and went in on the AUD/USD instead...now I have missed the boat! Really s@*#!

LOL no worries... still time to enter....

 

[Louis123321]

Plenty of time to enter..... It's a really tough decision though, actually. Market could go up and annihilate us all.. Or market could go down.. down.. down.. & give us all the biggest payday we've ever dreamed of. Actually I think it will go down, so I suggest everyone go long.......

 

[RahmanSL]

"LOL no worries... still time to enter.... "......"Plenty of time to enter...."

Not sure of that bro...there was a hint of a white candle forming on the H1 chart a couple times, but disappeared soon after...wonder what it's trying to signal to us???????

 

[Louis123321]

"LOL no worries... still time to enter.... "......"Plenty of time to enter...."

Not sure of that bro...there was a hint of a white candle forming on the H1 chart a couple times, but disappeared soon after...wonder what it's trying to signal to us???????

Time to enter Short (?) I'm saying, market momentum has as good as died for the bulls... I expect downfall very soon, depending largely on negative news which has not all been released yet.... I seriously do not suggest going long at this point.

 

[RahmanSL]

I see a second whiter shade of pale candle forming on th H1 chart...Could this be the time to go short??????????

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Ah, what the hellll...Why not?...I just took a couple shorts at the 1.2771 levels.

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Yikes! Now my preset short position at 1.1781 has been triggered...Wonder if that's going to get me into trouble or not!...hmmmm..

 

[Louis123321]

What the hell just happened. -_- DIE EURO.... DIE!