FOREX PRO WEEKLY January 27-31, 2014

[Ghandi1]

Good morning and good trading!


08.20
So, we made 200 pips in this move down,so far. To me this is stil corective type of move but my overall picture is more bearish than bullish and I think we are on the way toward 1,3170 in shape of ending diagonal so we have 370 pips to go, if I am right. Sooner or later we will get daily swing high....
As seen in my count, I had to decide for one, we might be bottoming 2nd wave of flat correction in X wave of double Zigzag with target above 1,3628. Here is one catch, level 1,35636, above it bottom is most likely in place or we will get another low and W could change into 1st of probable longlong C wave. We could spend whole day in this zone, making low after low, and dark blue a&b could become 1&2 what would not change whole story.
Pink line @1,3525 is 62 expansion from very HH @1,38924 to Daily A @1,35649 from 20140109 and Daily B @1,37383 from 20130124 and could be reason for Daily low swing. This would be very tricky.
Invalidation of my count is with price above 1,37383.

ps: Daily high swing level today is @1,36837, not correct in the picture!

ps2: daily high swing level coincides with b top so we might get also, lets say double top of b and x wave...


View attachment 13204


11.40
Huh, worming like real worm!
Adjusted the count, remain retrace bullish, only how high: below 1,35636, a bit higher and fast down again or what?

View attachment 13215


12.39
I regret but before this spike up I wrote my analysis and something crashed and it was not published..
Was too fast with my previous post, have not checked all TFs. Here is new picture. It is already happening what I ment to tell..

View attachment 13218

Looks good your numbers,
At 3477 I have a 3/4 mark of the larger swing, 4/4 is at 3339. The 3/4 is a big bounce area so look for bounce after/if we get there

 

[minimax]

Making swings so fast makes me wonder if low is in place. In case of expanded triangle as 4th wave we will make one more low with targets double bottom and 1,3465..
I am more convinced low is in place but....

Good luck!



ps: well, we got new low but looking at charts I think that regardless where low will be we have 2,66 hours to come above 4 or down move will continue.

 

[minimax]

Looks good your numbers,
At 3477 I have a 3/4 mark of the larger swing, 4/4 is at 3339. The 3/4 is a big bounce area so look for bounce after/if we get there

hey mahatma,

what marks are these you have? I cant define swing low at yours 4/4...help? be kind and attach a picture, please..

 

[minimax]

I think this could be it! Looking at M5 we really should not even touch 1,34891..Until 17.00 CET we should move above 1,35724 or I see big possibility move down will continue.

This W&R of daily & weekly low makes me think this move down could be Flat and second in row, yes, much shorter in time as first but as it is so far it is flat pattern and question is, except in case of continuation below 1,3602, if we do not intend to make 3rd flat (or triangle??) with target above 1,37383......
Something to digest during weekend, hehehe...

 

[Venelin]

Hi everyone,
Here is a current trading idea for every taste: EUR/JPY -15/30 min. BnB sell @ 138.17 =>target 137.75, then 1h RRT long from there in agreement with weekly BnB buy!(market is too busy to post charts-see for yourself) Good luck!