FOREX PRO Weekly July 23-27, 2012

sive, how can we explain such a sudden reversal? i don't see any significant technical level to justify this squeeze. is this the beginning of a 3-drive buy on H4?
 
reversal

sive, how can we explain such a sudden reversal? i don't see any significant technical level to justify this squeeze. is this the beginning of a 3-drive buy on H4?

actually there was a reversal indicator 20mins beforehand pretty clear

sive did mention the possibility ;)
 
todays spike

reversal was on the cards anyway being wednesday .....the usual weekly suspect

but the trap was painfully obvious, as soon as liquidity dried up ... ;)

but yes ....a pretty easy read :) (been doing this a loooong time)
 
also, it's just like it hit a wall and did a 180 without even pausing. now that's unusual. usually there's a little bit of back and forth, but no rocket. so the question remains: why suddenly someone decided to pull the plug on a lot of shorts? especially considering that 2000 was within reach.
 
Divergence rules!

I take Divergence very seriously. As soon as the SOB shows up, it turns all the previous forecasts upside down.
Sive told us about the divergence this morning, but so steep, I did not expect it and it started too early. There were still 22 pips to go till the WS2.


craig, do you mean this: 'huge bullish divergence with MACD near at solid support'?
 
exactly right. that's why i was taken aback as well.

I take Divergence very seriously. As soon as the SOB shows up, it turns all the previous forecasts upside down.
Sive told us about the divergence this morning, but so steep, I did not expect it and it started too early. There were still 22 pips to go till the WS2.
 
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