FOREX PRO Weekly July 02-06, 2012

Triantus Shango

Sergeant Major
Messages
1,372
well i would also place an order in front of the 61.8 node of that last huge move up post-EU summit.

BUT be aware that there seems to be a potential gartley 222 buy in progress on daily (also on daily for e/j). the reason i mention it is that the bottom tip of the right wing usually extends beyond the 61.8 node from the X point and that node comes in at aorund 2461. so if we do end up with such a gartley, the bottom right wing tip at least could reach all the way to 78.6%. but by the looks of it, it looks more like this might turn into a butterfly with a tip extending all the way to 100% - 127.2% from the same fib retrace structure i mentioned above.and that puts us in the 21xx-22xx range before the buying will start IFF this butterfly or gartley buy stays valid. if it fails, then we will be staring at the bottom of the pit, so-to-speak. ;-)


Good Morning Alll
Im lil confused , according to me 1.2570 area will hold and then we will see bulls again , but at the moment price is still hanging around this area hourly and 4 hour macd is bearish too , so now shall i place a pending buying order around 1.2500 with 50 pips sl , can anyone guide me for a better entry pls ..
 

Sive Morten

Special Consultant to the FPA
Messages
12,638
Guys, we could get nice 15-min 1.618 butterfly Buy right at 1.2540. That also could be a 3d drive of a bit ugly pattern.
 

minimax

2nd Lieutenant
Messages
1,290
Agree, this is very good target! I cancelled 1,2630 and think 1,2613 is top and this makes me thinking 1,2540 could be lowest we go today.
 

minimax

2nd Lieutenant
Messages
1,290
I also expect diagonal - 3 drive sell on 5 min, enter 1,2603, stop 1,2613

ps
Cancelled
 
Last edited:

hassan079

Private
Messages
16
well i would also place an order in front of the 61.8 node of that last huge move up post-EU summit.

BUT be aware that there seems to be a potential gartley 222 buy in progress on daily (also on daily for e/j). the reason i mention it is that the bottom tip of the right wing usually extends beyond the 61.8 node from the X point and that node comes in at aorund 2461. so if we do end up with such a gartley, the bottom right wing tip at least could reach all the way to 78.6%. but by the looks of it, it looks more like this might turn into a butterfly with a tip extending all the way to 100% - 127.2% from the same fib retrace structure i mentioned above.and that puts us in the 21xx-22xx range before the buying will start IFF this butterfly or gartley buy stays valid. if it fails, then we will be staring at the bottom of the pit, so-to-speak. ;-)
Its really so nice of you :)
now im clear that at which prices i should watch nd search for potential buy entry ...
thanks a million TRIANTUS
 

Triantus Shango

Sergeant Major
Messages
1,372
yeah it could, but what is the probability it will today? are you prepared to hold your trade for a couple of hours? day? days? a week? weeks?

we are getting very close to 2525-2515. what happens there will give us the clue, especially if price can remain below the MPP. the weekly chart seems to give some credence to your position though, so who knows? maybe the bottom will drop out from here. i sure hope so because i am getting sick and tired of waiting for that butterfly sell to kick in on a/j.


Entered short at 1,25677, stop 1,25759; this could fell of a cliff
 
Top