FOREX PRO Weekly June 03-07, 2013

[DJG]

Sive, why don't you use Twitter to update your analysis throughout the day? it's rather easier that way for you and for your followers.

 

[Lolly Tripathy]

1hr sell butterfly


and sive sir 3drive

 

[papao]

Sive, why don't you use Twitter to update your analysis throughout the day? it's rather easier that way for you and for your followers.

hi djg, i think that for Sive would be highly demanding (it should keep us up to date all the day, and may be this isn't compatible with his job). Also, may be FPA would not be so happy (because we won't use the forum but twitter).

 

[Lolly Tripathy]

1hr 4hr

 

[Synchronicity]

I've been looking at Thomas DeMarks trend line breakouts and suggest that we have one on the daily timeframe.



If my sums are right the targets come out as 1.3373 (T1) and 1.3336 (T3). Not shown on this chart there is a K area about 1.3005 which is a good option to place a stop below. The DeMark trade stays valid if the price doesn't close back below the resistance line but that requires risking more pips.

All the best

Michael

 

[think2]

..Second chart shows the support levels and personally I like 1.2890-1.3006 by two reasons.

I guess you mean 1.2990 not 1.2890, right ?

 

[D.R.&Quinch]

I think he must mean that.

 

[Lolly Tripathy]

4hr ED

 

[D.R.&Quinch]

Ty lolly. Im not sire thia qualifies as an ending diagonal. Ed usually a wave 5 after an big over extension of price. This si far does not look likr consolidating price action. Just my understanding of it.

 

[Ghandi1]

It seems short term bearish but the The butterfly sell is still valid until yesterdays low is taken. However there is also a double top that support some bearish scenario...