FOREX PRO Weekly June 13 - 17, 2011

[hollywood1111]

georgetta, I know that the term "kiss and goodby" was explained in this forum several times, but I am not quite sure of its meaning at this time. I tried to find the explanation in the Forum using the search function, all to no avail. Do I get it right that what you have in mind is this - the price hits the confluence level and then pulls back to the downside (as Sive suggested in his today's update - price will likely retrace to somewhere around 1.42 and then will move to the downside).
Thanks.

No. THe monthly trend is to the upside, so his guess was a "kiss goodbye" to the support line (= the monthly trend line), followed by a move to the upside

 

[MidnightRun]

No. THe monthly trend is to the upside, so his guess was a "kiss goodbye" to the support line (= the monthly trend line), followed by a move to the upside

Well, not what he said in today's update. I suggest you read it. - to 1.42 and then 1.39

 

[georgeta]

georgetta, I know that the term "kiss and goodby" was explained in this forum several times, but I am not quite sure of its meaning at this time. I tried to find the explanation in the Forum using the search function, all to no avail. Do I get it right that what you have in mind is this - the price hits the confluence level and then pulls back to the downside (as Sive suggested in his today's update - price will likely retrace to somewhere around 1.42 and then will move to the downside).
Thanks.

Hello MidnightRun!
You can find Kiss and good bye in Forex Military School Chapter 8 Part IV. Well, I just wanted to show that, as it is drawn, the trend line goes exactly through the confluence that Mr. Morten indicated. For the kiss and good bye, I think it should be in the Monthly chart as well, where the trend line is. I am not sure we can search it in the Daily chart.

 

[Sive Morten]

EUR/USD Daily Update, June 17, 2011

Good morning,
our yesterday's trading plan has done well - market has hit nearest Fib resistance and continue move down.
On daily time frame - there is nothing new. You can re-read previous comments.

The one thing, that I could say currently is:
1. If you've entered short - be careful, keep an eye on current price action, because market could form some bullish pattern - Butterfly Buy, greater AB=CD, double bottom or something. Besides, today is Friday. Think about moving stop to breakeven. IF market will form some bullish pattern -take a profit and be ready to retracement to 1.4250-1.4270 area;
2. If you do not have any position - probably better to stay flat. Currently market is developing downmove and there is no sign of retracement. You have to wait some pullback to enter short. Also keep an eye on possible bullish pattern. If they will appear - wait deeper retracement, that's obvious.

 

[rashidin5178]

H&S on H1?

Hi Sive,

Wonderful analysis again!

Just want you to validate on H1 timeframe cause I see H&S pattern. Is it right and what is the target of this pattern usually?

Thanks a lot.

 

[Sive Morten]

Hi Sive,

Wonderful analysis again!

Just want you to validate on H1 timeframe cause I see H&S pattern. Is it right and what is the target of this pattern usually?

Thanks a lot.

Hi Rashidin,
Well, although I do not like very much a bit disharmonic H&S, but probably you're right.
Target, usually - distance between head and neck. Or 1.618 extension from head and right shoulder's AB-CD.

 

[rashidin5178]

Hi Rashidin,
Well, although I do not like very much a bit disharmonic H&S, but probably you're right.
Target, usually - distance between head and neck. Or 1.618 extension from head and right shoulder's AB-CD.

Thank you very much Sir.

We'll see what will happen.

 

[m0z1]

EUR/USD 15 min perfect DRPO

Hi Sive

On the 15 min chart we have a perfect DRPO Sell.... The retracement needed has happened. Is it time to sell now - as it is also at the confluence support mentioned...

Thanks
Mili