FOREX PRO Weekly June 18-22, 2012

[Louis123321]

sive, could you please clarify the following? you wrote: 'now we have "222" buy pattern, since market has done nothing, but completed downward AB=CD pattern. From perspective of Fib work it gives us Agreement at 4-hour Confluence support .'

but as i look again at the H4 chart, pirce is currently (6.05 EST) below k-area. so k-area was broken.

so why do you write that AB=CD was completed and gives us an agreement at k-area?

i don't understand because market is below 100 FE and k-area, and thus could complete AB=CD at 127.2 FE, for ex. (i posted the chart yesterday for those who would like to see what i am talking about).

cheers.

FYI I think you guys should know there is talks of a mass bargain buy in the stock markets (physical market). .. Do not rely on this but this is what i've been hearing as of 1 hour ago.

 

[Sive Morten]

sive, could you please clarify the following? you wrote: 'now we have "222" buy pattern, since market has done nothing, but completed downward AB=CD pattern. From perspective of

but as i look again at the H4 chart, pirce is currently (6.05 EST) below k-area. so k-area was broken.

so why do you write that AB=CD was completed and gives us an agreement at k-area?

i don't understand because market is below 100 FE and k-area, and thus could complete AB=CD at 127.2 FE, for ex. (i posted the chart yesterday for those who would like to see what i am talking about).

cheers.

Well, K-area is mostly a zone, rather than precise price. In our school we've talked that if some AB=CD target stands slightly lower K-area, than level could be treated as valid if even price has pierced it to reach AB=CD target. That is what we see now.

 

[Dave Hanson]

Sive, you say that June is a retracement month. What is July?

 

[Sive Morten]

Sive, you say that June is a retracement month. What is July?

Hi Dave,
I've said it not because here is some cyclical foundation exists but mostly by price action that market shows.
I do not know what July will be - we'll live we'll see.