FOREX PRO Weekly July 09-13, 2012

[asif faryad]

LOL you always crack me up, asif! good advice indeed. was wondering where you went... haven't seen you posting lately. come to think of it... where is everyone else who used to banter on these pages? everyone started making millions and turned mum? ;-)

Hi Buddy,,

I have been a few times onto the chat room set up by Janos but no one is there any more..

I have not posted as Triantus Been travelling a lot as my house is being refurbished....

Also you have a good idea how i trade i have a edge and most of the times it works have found good have employed a good money management system so just enjoy making money!!! as try and not get to involved in stories of what may or not happen as these dont make money!
So when my edge appears i like a assassin take my shot and majority of the time hit my target...

ITS ALL PHYSIOLOGY 95% AND A HAVING A GOOD EDGE EVEN IF ITS 60% SUCCESS RATE WITH GOOD RISK/REWARD YOU ACN MAKE A GOOD LIVING!!

Best.

ps:: present location sitting on a mountain after a 7 hour hike checking my trade and looking at the lovely profit will eat well tonight!!! )

Asif

 

[pragmatic]

AUD

I really need an OK from Sive, because if my analysis on AUD is wrong I will surely quit Forex for good. It is too much trouble.

So, what more do we need to SELL?
Confluence resistance
wedge, 3D sell
divergence

Thank you Sive!

 

[Sive Morten]

I really need an OK from Sive, because if my analysis on AUD is wrong I will surely quit Forex for good. It is too much trouble.

So, what more do we need to SELL?
Confluence resistance
wedge, 3D sell
divergence

Thank you Sive!

Hi Pragmatic,
Your short term analysis may be correct. But I would like to share with you a bit long-term view.
AUD is a commodity currency, particular speaking - Gold currency. It has very similar price action as Gold and now stands in long-term triangle/pennant pattern.
Personally, due to overall turmoil and debt ceil question in US in Nov-Dec I have bullish view on Gold. It may be absolute fireworks in Autumn there.
Here is the charts. Shortly speaking, direction breakout will resolve everything. Just one warning for short-term trading. Gold in the range on weekly chart - do not marry any position, appoint nearest targets. IT is very tricky market with solid volatility.
IF you will Sell - take 3-Drive target - low between 2nd and 3d drives and be happy. Or, at least protect position by tighted s/l

 

[minimax]

BB is

 

[Venelin]

BB is

"Bet that beard`s fake"

 

[D.R.&Quinch]

ah thankyou!

 

[Triantus Shango]

right. i was looking at that too, sive. but then i kept reading all this news about china going from a soft landing to a hard landing plus all the other gloom & doom (especially from roubini), shouldn't we therefore expect a drop as opposed to a bullish continuation beyond 0300/0400?

 

[sibeiho]

Hi Sive,

Acutally I have a question in regards to the 4hr Double Repo for the EURUSD. From my Saxo forex charts and the Sep 2012 Euro futures and the Euro futures continous, i still see the 4hr double repo in play. Even with my chart from my IG account I also do see the 4hr double repo in play. So I am not sure whether my charts are accurate to relate to.

I also made a discovery in terms of the Futures for the Dollar Index is also making a 4hr double repo in the opposite direction. I was wondering if you do see the same DR in your charts?

I am looking at massive divergences in the daily chart for the Dollar Index in terms of MACD, AD. Even for the 4hr chart I also see similar divergences. I was wondering if my analysis does in any way makes sense, does this mean a good possibility for the Dollar Index to make a double top and therefore spelling a possible bottom for the EURUSD at this point?

 

[pragmatic]

Thank you very much Sive for sharing!

I thing other pair or instrument will be more interesting since we dont know Euro will survive or not. Just a suggestion...

 

[Sive Morten]

right. i was looking at that too, sive. but then i kept reading all this news about china going from a soft landing to a hard landing plus all the other gloom & doom (especially from roubini), shouldn't we therefore expect a drop as opposed to a bullish continuation beyond 0300/0400?

Hi Triantus,
well, you should trade very long-term to apply such issues as China's lending and so on. Now the major problem for traders is not a lack of information as it was in 70s, but too much of it and most of it either junk or you just don't need it or will not be able to apply it. IMHO If you trade on daily chart or even intraday - forget about supply/demand of gold metal. Some data releases and technical picture - that is what really will be important for you.

Hi Sive,

Acutally I have a question in regards to the 4hr Double Repo for the EURUSD. From my Saxo forex charts and the Sep 2012 Euro futures and the Euro futures continous, i still see the 4hr double repo in play. Even with my chart from my IG account I also do see the 4hr double repo in play. So I am not sure whether my charts are accurate to relate to.

I also made a discovery in terms of the Futures for the Dollar Index is also making a 4hr double repo in the opposite direction. I was wondering if you do see the same DR in your charts?

I am looking at massive divergences in the daily chart for the Dollar Index in terms of MACD, AD. Even for the 4hr chart I also see similar divergences. I was wondering if my analysis does in any way makes sense, does this mean a good possibility for the Dollar Index to make a double top and therefore spelling a possible bottom for the EURUSD at this point?

if you have real futures charts from CME, but CFD of any broker, they should be 100% correct. You also may rely on Dollar Index, since EUR takes ~75% of it and it has strong correlation with it. Do not pay much attention to my data, since it also could be inccorrect, this is Alpari UK. Use mostly futures. They will show real picture, especially Pit delivery session, if it has some liquidity and if your software has ability to separate electronic from pit trading.
But, Trade Navigator September futures of EUR shows the same picture as Alpari.