FOREX PRO Weekly July 04-08, 2011

[nicolebobbin]

Really need Sive analysis today

 

[Joshnix]

he might tell you that if do not have a position stay flat until the nfp at 8:30 AM EST, market has priced in good numbers.

 

[Sive Morten]

EUR/USD Daily Update, Fri 08, July 2011

Good morning,
Our trending plan for yesterday has been fullfilled - market has reached 1.42 and bounce back.

I have a lack of time currently, so...
Personally I do not want to enter short currently - daily trend is bullish, long term price action is bullish, 4-hour trend is bullish. We have bullish stop grabber on daily time frame and some kind of shifting in momentum on 4-hour chart.

I probably will try to enter long from 1.4250 area with stop below 1.42 or at least below 1.4220 - 0.88 support of recent swing up on daily time frame.
This could be some kind of H&S pattern on hourly. THis is not very good idea, but I will have a tight stop, and I just can't enter short with these bullish patterns.
The major risk today is Doom and gloom during NFP release, so even if you will be right, you could be ocasionally stopped out.. So, be carefull.

I will start about short positions if market will erase this stop grabber on daily and close below 1.4180. Something like that. But this is not the case, at least currently...

 

[Sive Morten]

Ok. Let's see will it turn to Double bottom on 4-hour chart with such NFP and debt ceiling pressure....

 

[Joshnix]

Sive I hope your weekend will be spectacular. The past 6 weeks Euro has been showing signs of different directions.

I am flat heading into this weekend after adjusting my stop at NFP numbers, I escaped with some short profit. then reversed at close to the bottom for some long pips. I am looking forward to comparing your analysis to mine this weekend.

With Warmest Regards,
Josh

 

[erich]

DRPO weekly

Hi Sive,

your analysis is based on future prices; do you think that spot market could leed to DRPO in EURUSD weekly frame?
greetings, erich

 

[Sive Morten]

Hi Sive,

your analysis is based on future prices; do you think that spot market could leed to DRPO in EURUSD weekly frame?
greetings, erich

Hi Erich,
each week somebody asks about that
No, this is not the DRPO, since it has too different tops and first penetration is too deep. Although initial thrust is good...

 

[Paul McConnell]

Poweful Indicator

There cannot be any doubt about the power of this kor harmonic indicator..

 

[erich]

sorry

oh, sorry Sive!
I wasn't attentive enough;
embarrassing, my fault.

nice weekend Sive,
Erich

Hi Erich,
each week somebody asks about that
No, this is not the DRPO, since it has too different tops and first penetration is too deep. Although initial thrust is good...

 

[Triantus Shango]

is H4 bullish?

Good morning,
Personally I do not want to enter short currently - daily trend is bullish, long term price action is bullish, 4-hour trend is bullish. We have bullish stop grabber on daily time frame and some kind of shifting in momentum on 4-hour chart.

sive, you wrote H4 trend is bullish. i don't understand how you come to this conclusion. i attached 2 screenshots: one has the x-axis compressed to show more of the past data all the way back to start of the bull trend. on my H4 chart, post-NFP release, there doesn't seem to be any indication of a bullish bias. when NFP was released, the EUR shot up, then the market completely reversed back to the start of the jump and we are back + or - to where we were pre-NFP.

so.... what am i missing here?