FOREX PRO Weekly July 09-13, 2012

[Triantus Shango]

i wish i could confirm... but your guess is as good as mine.

all i can surmise is that fundamentals keep the lid on e/u. also, AUD is about to experience some major sell-off if everything i read about china's hard landing is true, which then should help (as it has been doing today) the e/a. that might help create euro long flows lifting the rest e/u, e/j, etc....

yeah, e/a is quite perky today.

all i know for sure is that there is a crab buy on e/j H4--interestingly, there was a butterfly buy before the crab that preceded the move up after the euro summit of last week, and both are contained within a larger gartley 222 buy on the daily chart--and usually e/u and e/j move in tandem (not always, but they do more often than not) so if e/j takes off, and e/a has already moved up 80+ pips on the day, i'm willing to bet that that will buoy the e/u as well... how far up no idea.

my bet is on the e/u and e/j retrace.

When I look at price action this morning it is in range just below 1.2300 I get this feeling it's straight going down instead of retracement to possible area of 1.242 - 1.245 Could anyone confirm this, please?

 

[D.R.&Quinch]

thanks for that info about the correleation between those pairs, more to read up on!

 

[minimax]

hehe, too much reading and listening hurts

 

[minimax]

hello? anybodyouthere?


ps

not on purpose but not bad result:

 

[D.R.&Quinch]

just my spread bettor or did it really just spike down to 1.23073 and back up?
i just check fxstreet and it seems it did. that was expensive, just took my stop, reopened long.

 

[minimax]

when?

but why buying here?

 

[minimax]

yes, FXCM also but, 3 others not
this is ok
it confirms we re going down soon

 

[D.R.&Quinch]

quick long as the speed the spike retraced on m1 showed scope

 

[D.R.&Quinch]

yes, FXCM also but, 3 others not
this is ok
it confirms we re going down soon

Mty understanding of such a spike is :
the market is dropping the price to check out demand at thise levels. the spike retracement means the was demand so it went back up.
how does this copnfirm we are going down soon?
if we could use volume we could compare ac/dist vol etc against the candlesaticks, but we cant

 

[minimax]

correct about ˝checking¨

hm, if one is faster, more liquiid, bigger, whatever, other follows
I am monitoring several and I am monitoring making fractals on different TFs