FOREX PRO Weekly January 21-25, 2013

[squidge42]

Wondering if we have a B&B buy soon on Silver Spot..exact Fib confluence at 31.57
comment welcome

 

[alexoptimistic]

Hi Sive, thanks once again for these valuable advices! Your work here is absolutely great!

"try to enter as closer to opposite borders of consolidation as possible, use spikes" - i don´t understand exactly what you mean here: so after the breakout wait for a retracement to the other border or wait for a decent retracement to the resistence/support that has just been broken? what do you mean by spikes?

 

[Sive Morten]

Hi Sive, thanks once again for these valuable advices! Your work here is absolutely great!

"try to enter as closer to opposite borders of consolidation as possible, use spikes" - i don´t understand exactly what you mean here: so after the breakout wait for a retracement to the other border or wait for a decent retracement to the resistence/support that has just been broken? what do you mean by spikes?

Hi Alex,
let's suppose that you're bullish and want to enter Long. Your failure point is 1.3256. But since situation is choppy you can't enter just somewhere, you need as small risk as possible. We see that in recent sessions market is forming tight consolidation and sometimes reaches it's borders by spikes. So, use this spikes to enter long. When market shows another downward splash, try to enter as closer to 1.3256 as possible. That is what I mean with it...

 

[alexoptimistic]

seems that i arrive late at the party today big rally on eurusd, any ideas where to enter?

 

[BeeKay8]

seems that i arrive late at the party today big rally on eurusd, any ideas where to enter?

Probably do not want to enter long here now. We just hit a cluster of targets and we now have a bearish pattern on intraday charts.

View attachment 8102

 

[alexoptimistic]

im looking for a retracement to entry long at 1.34 with a stop loss below 1.3350. what do you all think?

 

[Lolly Tripathy]

i think 3480-3500 is a big resistance
161% buy bfly
161% sell bfly
50% fib daily swing
weekly double top
all are in the same range