Forex FOREX PRO WEEKLY, March 14 - 18, 2022

Sive Morten

Special Consultant to the FPA
Messages
16,284
So subtitles would be fantastic

Hi mate, I never add subtitles to the video previously, and need to check this out what we could do. If it would be simple and youtube adds them automatically - I'll do. Meantime, indeed, you could read daily updates.
For example, at the same time, a monthly chart can be indicating a falling market, whereas the 1-hour chart can be indicating a rising market. So when you mention, say, a retracement, I am sometimes unsure whether you mean a retracement up or down.
Well, in daily updates we talk only about short-term setups - daily and lower time frames. Weekly/monthly charts are only for weekly report.
Please may I just confirm that I am correctly understanding what you are saying?
The 1-hour chart indicates a possible reverse H&S; the invalidation point is at 1.3087; the shoulder is shown by the blue line and the final target to take the profit is in the 1.34 area.
Yes, everything is correct.

I particularly have a greater interest in this specific post because I already have a long [currently with a minus position] and wondering where to put my S/L - and is 1.34 too ambitious for the T/P?

1.34 would be just perfect, if it gets there. This is classic H&S target. You could use 1.32-1.3215 as conservative target around the neckline.
 
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