FOREX PRO Weekly July 02-06, 2012

[Triantus Shango]

one more thing: most recent AB=CD on H4 has FE 127.2 come in where the 61.8 node is from the move up from 22xx on daily and also there is a 78.6 node at that level on H4 from the post EU summit move.

 

[Triantus Shango]

2577/81 = k-area on retrace up. just right above MPP and 100 MA and below 200 MA on M5. definitely key where traders will either reload shorts, hor if price pushes above MAs, uses MAs as SPPT.

 

[Triantus Shango]

no man! price breached COP but hasn't reached OP yet of the fib ext structure.

i see no stinkin' gartley buy, btw ;-) at least not well-formed.

chart?

Btw Guys,
Gartley buy on H4...reload your ammo!!!!

 

[rashidin5178]

no man! price breached COP but hasn't reached OP yet of the fib ext structure.

i see no stinkin' gartley buy, btw ;-) at least not well-formed.

chart?

Hi Triantus,
Here we go...good luck dude...
Thanks and Best Regards

 

[Triantus Shango]

damn! you're right. my chart was to compressed horizontally, i didn't see it. ok, then we have to wait and see where it will base, if it does base. meaning: we are between COP and OP right now (FE 61.8% and FE 100%). maybe it'll activate at OP or perhaps XOP. time will tell.

actually, i like the 127.2 level because of WPS1, 78.6% node, and 61.8% node on daily of the move up from 22xx. i'll be watching there for possible buy entries.

and if it doesn't start retracing from there, then FE 100% on daily of most recent AB=CD just 20+ pips under MPS1 (also matching FE 200% of current gartley on H4 which would become a butterfly buy if that level is reached) would create a gartley buy on daily, in addition to the smaller butterfly buy structure on H4. and since this is a market bottom, seems like perhaps a nice bull run maybe might start from there.

but who knows. just levels to keep in mind, that's all. ;-)

thanks rashidin.

 

[rashidin5178]

damn! you're right. my chart was to compressed horizontally, i didn't see it. ok, then we have to wait and see where it will base, if it does base. meaning: we are between COP and OP right now (FE 61.8% and FE 100%). maybe it'll activate at OP or perhaps XOP. time will tell.

actually, i like the 127.2 level because of WPS1, 78.6% node, and 61.8% node on daily of the move up from 22xx. i'll be watching there for possible buy entries.

thanks rashidin.

I think the party is just to begin..
Maybe this gartley will lead to triangle breakout failure...but again, who am I to say....

 

[Triantus Shango]

rashidin, not until tomorrow, i think.

and triangle has been broken to the downside. also, europe is going or already is offline... who are the maniacs who would man their terminals for the next couple of hours and put on trades in the 100s of mil? actually... come to think of it... wouldn't that be the best way to manipulate the e/u market since they wouldn't be able to find a counterpart easily considering the US is closed today?

 

[Triantus Shango]

ok, well, this is it. am going to bed seeing as the bounce off the lows is, well... a dead-cat bounce basically. i like the picture daily is painting. let's see if mr market will take out the pre-EU summit low from last week.

 

[minimax]

Sleep? The nihgt is young, not even started!

 

[Triantus Shango]

yeah well, twas past midnight where i live. and like i said, nothing much happened.

today, though, the risk event is the ECB interest rate decision and press conference. if they don't cut, nothing makes sense anymore.

Sleep? The nihgt is young, not even started!