FOREX PRO WEEKLY July 14-18, 2014

[minimax]

eurusd

EU is economicaly desperate, Germany not so much!

How retail will impact, how Yellen will?
If retail worse we could get Flight to safety, if better we could get stronger dollar...hehe, same direction.

Lack of bullishness made South more&more probable...

 

[minimax]

gbpusd

It fits!

So, new HH is possible with following count, all rules/recommendations are obeyed..I do not expect much above 1,7285 because big channel should hold, maybe 1st target 1,72...could be nice Bull trap..



ps
HARD TO BE MORE WRONG! This is not common shape of DZZ so is not acceptable. If breaks above would be 4th penetrating 1st, but I am more for plunge option and 3ED in place...

 

[kaslanci]

Hi sive,

Is it going to be absurd if we expect to see gartley 222 buy pattern instead of butterfly buy on daily eur/usd?

Other issue is that the rule in your book says we should use pivots 1 step higher time frame. But you use monthly pivots on daily time frame and weekly pivots on 4hr and 1hr frames.

please advice.

 

[minimax]

Hi sive,

Is it going to be absurd if we expect to see gartley 222 buy pattern instead of butterfly buy on daily eur/usd?

Other issue is that the rule in your book says we should use pivots 1 step higher time frame. But you use monthly pivots on daily time frame and weekly pivots on 4hr and 1hr frames.

please advice.

Agree, theoreticaly&practicaly we could see even crab due North with target above 50% retracement around 1,3780...

 

[Sive Morten]

Hi sive,

Is it going to be absurd if we expect to see gartley 222 buy pattern instead of butterfly buy on daily eur/usd?

Other issue is that the rule in your book says we should use pivots 1 step higher time frame. But you use monthly pivots on daily time frame and weekly pivots on 4hr and 1hr frames.

please advice.

I'm not quite understand the first question. As "222' Buy as Butterfly "Buy" are patterns of the same direction, but they could start from different points. What a problem with them?
Speaking about levels - I do not see any contradiction here. Weekly as pivots as Fib levels work on any time frame lower. Would you ignore monthly Fib support on daily chart? Or, say, Yearly Pivot point?
That's particularly the task of big picture analysis is - to not skip or miss important level, because if you look only on daily picture you can miss them...
Our book tells "at least" 1 grade higher, but it does not mean that monthly pivots should be ignored on daily chart....

 

[minimax]

nzdusd

well, retrace was stronger and had to adjust my count..

I forgot was Sive expected but here is how I see it..most probably this move will stop above 0,84013 or count is wrong...

Cable & Kiwi...who wins?

 

[minimax]

gold

my call is pullback above 1313,66 maybe to 50% at 1318,48...in case of sudden drop I expect 5-0 pattern, C just bellow 1284,77...hm, maybe this 5-0 could be interesting also with next drop?

 

[minimax]

eurusd

To me this is most likely impulsive wave c...entering above 1,3588 will make more complication, maybe ED shape and we recently bottomed 1ED..

 

[minimax]

gbpusd

Price hit 162 extension of 1ED as I see it...retrace would be appreciated...I really do not like timing in this count, we should spend 2 weeks in this correction!!! target is to enter 1ED and remain in channel...maybe we get deeper correction? wave 3 is shorter as 1, if 3 is in place, so 5th must be shorter than 3..

 

[minimax]

usoil

huh, close to fall below 98,73 and invalidate my count...
hm, rising price of oil and dollar? possible...rarely but if indeces rising...maybe oil will wait currencies make their corrections?