FOREX PRO Weekly June 17-21, 2013

[alexoptimistic]

there is also a daily B&B on gbpusd. but Sive, even with this dollar strength do you trade this patterns, going long eur or gbp against the usd even if the move down is so dramatic?

 

[Ghandi1]

possible 4hr H&S if not go above 3320
View attachment 9795

Agree with you, I'm already long from 3182, wide SL

 

[Venelin]

Agree with you, I'm already long from 3182, wide SL

Also not perfect, but 1h RRT forming (10 more minutes)in addition to our daily BnB buy

 

[BeeKay8]

Hey everyone,

Possible DRPO "SELL" on 1H USD/JPY which could give us some retracement due to being at resistance right now.

Anyone with LONGS becareful and watch for this on the hourly timeframe.

 

[Lolly Tripathy]

Took my profit @ 3180 sell @ 3390..
I will sell again @ d resistance...till late aug i only sell

 

[alexoptimistic]

Took my profit @ 3180 sell @ 3390..
I will sell again @ d resistance...till late aug i only sell

smart move... me too probably.

 

[Sive Morten]

Dear sive sir
can we consider this recent up daily usd/jpy up as a B&B sell setupView attachment 9792

Hi S.chakrabortty2011. Personally I do not like thrust down here. There was probably 3/8 retracement up recently, so some steam probably was out. It could work, but it is not perfect. If you will find clear pattern on intraday charts, that will let you to place tight stop - then may be it could be tried.

possible 4hr H&S if not go above 3320

Hi Lolly. Yes, B&B very often becomes part of H&S, since it assumes 5/8 retracement that in turn, very typical for H&S patterns. Don't forget about Weekly pattern either...

there is also a daily B&B on gbpusd. but Sive, even with this dollar strength do you trade this patterns, going long eur or gbp against the usd even if the move down is so dramatic?

Hi Alex. Actually this is a buity of this setup. When all are selling, you're buying. Actually that is the reason why this pattern works. By DiNapoli framework, B&B is directional pattern and direction overrules trend. Don't forget about oversold. This is also great part of context.

 

[Triantus Shango]

guys, i am trying something new. here is a prediction for u/j: on 24 June between 0300 and 1900 GMT or on 26 June between 0700 and 1500 GMT look for u/j to reach 99.50/75 and drop from there with eventual TP at 92.548 or thereabouts.

--> forgot to add: i don't mean 92.xxx will be reached on that day, just that the reversal starting at the level mentioned will eventually end at around 92.xxx.

let's see if i am completely wrong or right.

 

[MidnightRun]

Took my profit @ 3180 sell @ 3390..
till late aug i only sell

And why is that Lolly? What gives you this particular long-term view? Thanks.

 

[Triantus Shango]

guys, i came across some interesting phenomenon: there seems to be some kind of time code embedded in the price action. i don't know yet if it is just pure coincidence, but i have been analyzing M1 for XAUUSD heavily and it is just utterly amazing how the price turns on a dime at particular time points. i don't mean only at the beginning of a session or at the fix, but there seems to be some kind of structure to the time continuum itself and at particular points in that continuum, the price will turn.

ok, i know, it sounds like a tautology, but, and that's the tricky part, by judiciously applying the fibonacci time extension tool (not the time projection tool!) in conjunction with 2 other indicators, you can foresee the exact turning points on M1, and since XAUUSD moves a few point every time it turns (mostly) that's a pretty good day spent scalping.

now, i haven't confirmed whether i just got the devil's luck and this is a total fluke and haven't tried yet on ccys, only on XAUUSD. did anyone notice this?

i'm applying this approach to e/u right now and it looks like we'll have a turning point at around 3070 (+/-) somewhere between 1400 and 1600 EST. no idea if it will pan out. let's see.

also, one way you can see it is if you put your screen on the side, that is to say, grab your screen and rotate 90 degrees to the left until it rests on its (the screen's side) right side. then the X-axis will be vertical, time unfolding from bottom to top.