FOREX PRO Weekly June 20 - 24, 2011

[nicolebobbin]

Market has reached 1.4430 many hours ago, why you still say "... if it break 1.4420.. then market shift to bullish.... "

 

[timsar]

Market has reached 1.4430 many hours ago, why you still say "... if it break 1.4420.. then market shift to bullish.... "

Hi, 1.4420 is the price on featurs, on spot forex you shoul add 35-40 pips and it`s around 1.4450

 

[awsl]

The highest price for the last 24 hrs is 1.4421, your broker much be duping you with addition spreads.

 

[Icarus]

Double Repo Sell on 4-hour chart?

 

[Sive Morten]

Double Repo Sell on 4-hour chart?

Hardly. Poor thrust.

 

[georgeta]

Maybe it will be H1 Butterfly sell. 1.27 expansion of the left wing coincide with the Agreement area and 1 expansion target of the small abc.

 

[Icarus]

Does a symmetrical triangle in an uptrend usually mean bullish continuation or bearish reversal?

 

[Sive Morten]

Maybe it will be H1 Butterfly sell. 1.27 expansion of the left wing coincide with the Agreement area and 1 expansion target of the small abc.

Well done, excellent work, Georgeta.

Does a symmetrical triangle in an uptrend usually mean bullish continuation or bearish reversal?

Hi Icarus,
Usually this is continuation, if there is no strong resistance just above it.

 

[Sive Morten]

EUR/USD Daily Update, Thu 23, June 2011.

Good morning,
Market was able to hold bearish trend and reestablish move down.

On daily we see that 3 different target coincide in the same area of monthly confluence support - 1.37. THey are - potential Butterfly "Buy", recent AB=CD and large AB=CD.

So, we have strong bearish context - all trends are bearish, market is not at oversold. So, we need pullback to enter short. And it could come.

On 4-hour chart we see that market has reached pivot and 4-hour confluence support. We can count on some respection of that area and pullback. Still, we have to use nearest Fib resistance to enter.

On hourly chart this is 1.4306. Stop is better to place above 0.786 of recent swing down initially. Later you can drag them lower.

 

[pragmatic]

Hello Sive!
Do you feel a false breakout to the downside or it is a sell off due to the expected news of today. I am not so experienced so I don't want to jump in from greed.
Thank you!