FOREX PRO Weekly June 25-29, 2012

Triantus Shango

Sergeant Major
Messages
1,372
dude, why make it complicated? the only questions are: where is price relative to fib nodes, 100 and 200 MA, pivot points, prior SPPT/RSST (or highs/lows for the week/day)?

and that's it. additionally, one may want to ask where is price relative to BBs? and is there a harmonic structure nearby?

that's it.
 

minimax

2nd Lieutenant
Messages
1,291
On my graph is nothing but SMA 3x3 and I must learn to obey it more. TL - ok, but for sure ther will be one in which price will hit. I work only with fibos and waves.
 

minimax

2nd Lieutenant
Messages
1,291
Euro Rises After EU Leaders Renounce Spain Loan Seniority - Bloomberg

It hit the first target. And regarding the line it respected going down somewhowe insinuate the bottom. Only question is if this is top what I do not believe in, yet. looks like 5 - 0, still developing. If it breaks 50% to downside then top is in place otherwise up is still open.

Crab is pefectly done, candles closed exactly 3,618/1,618. I expect retrace to 50% and then (last?) leg to 1,2650/70 where PRZ is possible. Other possibility is to proceed to max target of 5 - 0 at 1,2666 and there retrace to 50%. I think this whole up move is corrective leg. I almost do not believe any more in new HH of all this correction from end of May but depends on further development.

Regarding all fiscal and political BS I do not exclude forming triangle before going really down. These could be first ABC leg (top is possiblle A of triangle, if it will develop). On the other hand this top could also be right shoulder although I do prefer to name this pattern Cup with handle because it is in down trend and forecasts proceeding down trend.
 
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Venelin

Master Sergeant
Messages
394

Lolly Tripathy

Sergeant Major
Messages
513
Lolly Tripathy,do you have a harmonic pattern recogniyion software that you use? I appreciate you diligence in coming up with these patterns
no i dnt use any..
i can do that all by myself
whatever i think, i like to draw n share here for sive sir and all my trader friend can comment/correct dat
in short i am practicing .. :)
 

minimax

2nd Lieutenant
Messages
1,291
Venelin,

be so kind and tell me what SG stands for.

Agree, this low could be B (or C of ABCD) on Daily but I have no experience with failed 5th wave (what happend going up with high at 1,27421 on June 20th). Regarding what I see on 8H must also agree with you abc (A) up and abc (B) down so there is just two possibilities: 1. 5 waves leg up into Flat and 2. forming Triangle ( 5 x abc). I personally, at the moment on basis what I see and how it is developing prefer 2.

So at the moment I am just waiting for pullback to 50% to buy (if it do not break it strongly) or to 1,2660 to sell.

Interesting !!!! Daily on FXCM has no fractal in up trend while your chart is totaly different. Compare, you have both. SUNDAYS!!!

Also recommendation: put the TL from top on May 1st to top on June 18th.


ayoayo, are you using MT4?
 
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