Triantus Shango
Sergeant Major
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forgot to mention that there was this beautiful buy crab on M30, completed yesterday... and sure enough, like clockwork, price has retraced up 78.6%.
FOREX PRO Weekly June 18-22, 2012
- Thread starter Sive Morten
- Start date
yeah monthly pivot looks good to me but if tomorrow's pivot point is lower i'll prefer that for entry
anybody think gbpusd will make it to 5800 this week?
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Triantus Shango
Sergeant Major
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no idea. am not watching the g/u, except when drunk. ;-)
also, whoop-dee-doo! looks like we might be--and i stress, 'might'--on our way to 2750 at least, hopefully higher... where are those damn stops??
P.S.: got some info major stops are right above 2800... so the real short squeeze might start there if the sharks get to trigger those buy stops.
also, whoop-dee-doo! looks like we might be--and i stress, 'might'--on our way to 2750 at least, hopefully higher... where are those damn stops??
P.S.: got some info major stops are right above 2800... so the real short squeeze might start there if the sharks get to trigger those buy stops.
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Venelin
Master Sergeant
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Up and then Down big time...
Triantus Shango
Sergeant Major
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why so sure? is it from a technical point of view or a classified fundamental based info lolz
Triantus Shango
Sergeant Major
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wiseass! ;-) are you saying it's a matter of rolling the dice? sure feels that way sometimes.
Louis123321
Corporal
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Am I the only one buying at this exact point?
like Sive said and check the charts.. BUTTERFLY is actually completed even now. Unless it goes down say under 1.25500... I do not think that it will. Also I think the QE & everything coming up (+friday action tomorrow) could very well push the euro up again for one last strike ! And surely it will not go any higher than 1.2850 / 1.29. This would complete many patterns.. I also think it was only pushed down even further because people's stops got taken out. These people could very well be buying right now, especially those with a firm mentality of 'buy low' as their trading plan, on intraday charts. My stops for my buys are set at 1.24400.Also 1 more thing.. Where I have the diagonal channel drawn on my charts, market has not broken it yet, this could be a psychological positive for bulls.
Triantus Shango
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first off, how about attaching a chart so we can have an idea what diagonal channel you're looking at?
2nd, i'd advise not to 2nd guess what these or those people might or might not be doing. it's next to impossible to know anyways. only the price action and the patterns on the chart matter.
3rd, price is inside 1st k-area on daily/H4 now (2565). what's the probability of a bounce up to the figure? what's the probability of staying here and consolidating until europe comes back tomorrow? what's the probability of total market panic and price dropping like a 200 ton megalith to the 2400 handle today?
i have no clue.
what we do know though is:
1- we have a nice context for DRPO or BnB on M15/M30/H1 (H1 not quite yet as price is still walking the band, that is, BB3 < p < BB2, where BB stands for Bollinger Band and the number indicates the standard deviation;
2- H4 is not OS yet;
3- current price level can be considered point D of an AB=CD structure in progress on H4 of which OP DiNapoli level or fib ext 100 has just been hit (good point to take some profit);
4- fib ext 127.2 = 127.2 fib node of most recent fib retrace structure (= approx. 2505)
5- DXY (USD index) has hit both a 50% and 61.8% retrace node and both occur at the same level.
6- finally, this latest drop might be forming the right wing of a gartley 222 buy on H4 (see chart).
those are the major technicals i see. so since i just closed my short, i am planning on enjoying the feeling of the win before risking the profits, if you know what i mean. ;-) no buy yet. i'll wait to see whether or not this will turn into some gartley or butterfly buy or not. the situation on daily and weekly also bears watching as we might have further downside at least till 2400.
BUT, like sive cautioned in is analysis today, as long as price doesn't break through the k-area on H4, there still is a possibility that price will bounce from here and complete the right wing all the way up around 2800; in this case A = C, which is OK; A > C is not OK.
hope this helps. cheers.
2nd, i'd advise not to 2nd guess what these or those people might or might not be doing. it's next to impossible to know anyways. only the price action and the patterns on the chart matter.
3rd, price is inside 1st k-area on daily/H4 now (2565). what's the probability of a bounce up to the figure? what's the probability of staying here and consolidating until europe comes back tomorrow? what's the probability of total market panic and price dropping like a 200 ton megalith to the 2400 handle today?
i have no clue.
what we do know though is:
1- we have a nice context for DRPO or BnB on M15/M30/H1 (H1 not quite yet as price is still walking the band, that is, BB3 < p < BB2, where BB stands for Bollinger Band and the number indicates the standard deviation;
2- H4 is not OS yet;
3- current price level can be considered point D of an AB=CD structure in progress on H4 of which OP DiNapoli level or fib ext 100 has just been hit (good point to take some profit);
4- fib ext 127.2 = 127.2 fib node of most recent fib retrace structure (= approx. 2505)
5- DXY (USD index) has hit both a 50% and 61.8% retrace node and both occur at the same level.
6- finally, this latest drop might be forming the right wing of a gartley 222 buy on H4 (see chart).
those are the major technicals i see. so since i just closed my short, i am planning on enjoying the feeling of the win before risking the profits, if you know what i mean. ;-) no buy yet. i'll wait to see whether or not this will turn into some gartley or butterfly buy or not. the situation on daily and weekly also bears watching as we might have further downside at least till 2400.
BUT, like sive cautioned in is analysis today, as long as price doesn't break through the k-area on H4, there still is a possibility that price will bounce from here and complete the right wing all the way up around 2800; in this case A = C, which is OK; A > C is not OK.
hope this helps. cheers.
Am I the only one buying at this exact point?
Also 1 more thing.. Where I have the diagonal channel drawn on my charts, market has not broken it yet, this could be a psychological positive for bulls.
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