FOREX PRO Weekly June 25-29, 2012

seedof

Corporal
Messages
99
MidnightRun
nope, commander Sive didn't give me. he can't give out his own for copyright reason but i get mine from a friend on the forum but its a bit different from that of Sive even after inputtin the parameters
 

Louis123321

Corporal
Messages
166
I am 10000000% bear now. My buy stops got hit for a reasonable piploss, & now im just mass selling.

Looking at this price action today, market acts like it's given up on the fight (euro that is), it can't even retrace the downfall properly (unless its doing that now abit?) it just seems to get sold off when it tries. I strongly believe this is the end of the retracement on the monthly/weekly timeframe, and looking forward to the coming weeks of selling. :D
 

Louis123321

Corporal
Messages
166
I am 10000000% bear now. My buy stops got hit for a reasonable piploss, & now im just mass selling.

Looking at this price action today, market acts like it's given up on the fight (euro that is), it can't even retrace the downfall properly (unless its doing that now abit?) it just seems to get sold off when it tries. I strongly believe this is the end of the retracement on the monthly/weekly timeframe, and looking forward to the coming weeks of selling. :D

Just to add for GBP tomorrow we have public sector net borrowing figures out & inflation report hearings............ Euro gonna die man. :D
 

seedof

Corporal
Messages
99
louis
lol.i told you last week friday its coming for you.
well given the price action today especially with the fact that there was no significant news on both sides it became clear where the market sentiment tends to.
 

minimax

2nd Lieutenant
Messages
1,314
Hello Sive and all traders!

Was not exactly what I had expected but close. I am long now and if low is in place then I expect 1,2700 - WR1 area. Best buy for me is at 1,2450 and if it comes I will add bigger position, stop at 1,2430 .

Have chaged time frame on 6H because it is less noise. I like what I see, sitting on WR1, 88,6 and so on. On lower time frames I almost lost counts - it was like a worm.

Good trades to all!


EURUSD_062512_6H.jpg
 

Louis123321

Corporal
Messages
166
Hello Sive and all traders!

Was not exactly what I had expected but close. I am long now and if low is in place then I expect 1,2700 - WR1 area. Best buy for me is at 1,2450 and if it comes I will add bigger position, stop at 1,2430 .

Have chaged time frame on 6H because it is less noise. I like what I see, sitting on WR1, 88,6 and so on. On lower time frames I almost lost counts - it was like a worm.

Good trades to all!


View attachment 5809
Although some minor retracement could happen the market is now back in downtrend & broken most bullish patterns.. Plus there is upcoming trashings for the euro in the news releases in the coming days.. AND the price action is firmly bearish.

My advice from 1 trader to another is to be very careful going long at this point and/or just close your buys now to protect your positions ! Or just move it to break even, better BE than lose. I only suggest closing the longs now so you can actually make some profit.

Nevertheless, good luck with your trades!
 

minimax

2nd Lieutenant
Messages
1,314
Hi Louis,

I am monitoring the development on lower time frames. Regarding news have no clue what news can be released to hurt euro more, Spain is under control, almost, other will come later.

Good trades to you too!
 

Louis123321

Corporal
Messages
166
Hi Louis,

I am monitoring the development on lower time frames. Regarding news have no clue what news can be released to hurt euro more, Spain is under control, almost, other will come later.

Good trades to you too!
Thanks, just keep an eye on the events here Forex Calendar @ Forex Factory and be careful with your longs.. we have the US pending home sales Wednesday too and going on consensus looking at the figures for current/predicted this could push the euro down quite a lot too! Market is looking choppy on lower time frames i'm monitoring it too in case i'm wrong.. But still seems to me it is struggling to push up & Price action is still really bearish.. Also Sive said market could retest the upward trend line & then kiss it goodbye which is what it did at the beginning of the week, if you check out 4hr timeframe you can see where it did this.

Although it would seem logical for some upward pullback price action, the pattern breakers & failers, & fundamentals seem to suggest south movement for the euro.

1 more thing, remember that our long term target is also down much further than this, I would just suggest to be careful if you plan to enter long now without any proper signal, mainly without price action supporting it now. Good luck with the trades, i could be wrong as market is so unpredictable! :)
 

seedof

Corporal
Messages
99
louis
i also could not see any rationale why anyone will choose to go long now as a matter of fact its even better to be neutral now than going long but i think everyone has is own way of analysin market. market is unpredictable hence we could see upward movement but instead of going long i'll rather stay neutral
 
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