FOREX PRO Weekly June 04-08, 2012

[rashidin5178]

Wow, what a great discussion here. Great guys!!!
Btw Asif, good to find that you are quite active now in forum. Any reason, dude?
Thanks and Best Regards

 

[Sive Morten]

Sive master we really need you in this conversation I think, .

Excellent discussion, guys, but give me some time to read it - too many letters )
I'll find some time to read it and add my comments.

 

[purusamy]

Dear Sir Sive
I always read your short comments - being a newbie, may I make a request Sir.
I'm sure the seniors dont have a problem but I am always confused when I see "retracement" -
sometimes I get it - most of the time I am just lost. I would greatly appreciate Sir if you would kindly
put in a word "upward" or "downward" before the word "retracement" for the benefit of ignorant people like me.

Thank you Sir - I value your views and analysis - only learning to understand it.

Thank you again Sir.

Samy
eleccheck@gmail.com
p.s. anybody who wishes to advise me - my thanks in advance.

 

[seedof]

thanks Commander Sive for todays market update my personal analysis was just almost exactly as you've analysed it and i feel so happy i'm getting better and better as a trader and it courtesy of your tutoring.
Sir is it okay to put stoploss below yesterday low say something like 2380

 

[Louis123321]

Situation is very tricky right now.... Market has not even reacted to 1.24450 support.. I will be buying at 1.23850.

What is everyone Else's plans?

 

[cercamon]

I plan to buy at confluence level 1.2411-20 (1h MA100 + 50% Fib level + DS1 + Top line 4h Channel) and place stop loss some pips below 1.2384 (61% Fib resistance + Yesterday low)

 

[Lolly Tripathy]

wat a fall....
waooo....:::

 

[Louis123321]

I plan to buy at confluence level 1.2411-20 (1h MA100 + 50% Fib level + DS1 + Top line 4h Channel) and place stop loss some pips below 1.2384 (61% Fib resistance + Yesterday low)

Looks like you were right, great job! now we just need market to continue upward and hope this really is only retracement to the downside from the whole swing upward.. It will be perfect if market will hit weekly overbought level and then continue downward trend. This is my long term trading plan.

 

[Triantus Shango]

u sure u didn't hack into my computer? exactly my plan as well. 1 addition though: an additional buy limit order just before the 61.8% fib node from the move up from the low last week to today's high, just in case market continues its slide down. SL are under that level.

on H4: possible left wing of buy butterfly complete. now waiting for right wing, or simply AB=CD.

I plan to buy at confluence level 1.2411-20 (1h MA100 + 50% Fib level + DS1 + Top line 4h Channel) and place stop loss some pips below 1.2384 (61% Fib resistance + Yesterday low)

 

[Louis123321]

Also; Negative German Factory Orders expected out soon.. Forex Calendar @ Forex Factory then nothing for 2 hr 30 min.

If the negative news sweep is coming to an end for today as news is almost all cleared out expect 1 big data from US.. Then I see Upside continuation fairly probable, it could depend on this German factory report.