FOREX PRO WEEKLY May 12-16, 2014

[Sive Morten]

Hey Sive, I took this picture yesterday when market close,

I draw the butterfly sell inside AB=CD pattern but commonly you draw otherwise, ABCD inside butterfly.
Can I draw like this and could it work?
Or do you see GBP actually already showing revearsal movement considering at weekly shooting star?

I found this very interesting and a "little perfect" since ABCD and butterfly almost have same level, 1.7035-45 and it stands with 2009 top.
What do you think?

**perfect scenario if smaller butterfly sell scenario forming now coz it will also have same target area to sell

Hi Wontuno,
I do not pretend on absolute opinion, but I have chosen another starting point of butterfly, where initial swing really has started. If apply this way of drawing - pattern already has hit 1.618 extension and this explains recent downward acceleration. Somehow I remember that we've discussed this in our videos on previous week. Your scenario is possible as well, but better use it as foundation for short entry, but not try to catch shy upward action - it could be too dangerous at my mind.

 

[wontuno]

okay. thx a lot sive

 

[therdup]

Je suis impressionné par la qualité de l'analyse, et par sa profondeur. Je m'initie au trading et je pense que réussir une analyse de cet acabit peut être un objectif que je peut me fixer !

 

[ochills]

Good day commander in pips,
Good work as usual.
sir, kindly help me with the following questions.

1.Which site can I be able to read or listen to some of these fundamental news that rock the market as the news is being release or happen instantly. I use forexfactory but I can only read data and figures.

2.Can you recommend any book on market mechanics for me to read?

3.thanks You as usual, commander in pips.

 

[Brett Reynolds]

Looks like now 1.3670 area before we get bounce..!?

 

[Videep]

Nice! GBPUSD achieved target. The bullish divergence had me worried too but it managed to pierce .38 retracement as well as MPP. Thanks a lot again Mr.Sive. Your contribution is & will always be invaluable to us

 

[jb888]

news feed

Good day commander in pips,
Good work as usual.
sir, kindly help me with the following questions.

1.Which site can I be able to read or listen to some of these fundamental news that rock the market as the news is being release or happen instantly. I use forexfactory but I can only read data and figures.

2.Can you recommend any book on market mechanics for me to read?

3.thanks You as usual, commander in pips.

1. http://www.netdania.com/Products/li.../chart-forex-charts/NetStationFullWindow.aspx - when you open net station you`ll see news feed

 

[Sive Morten]

Good day commander in pips,
Good work as usual.
sir, kindly help me with the following questions.

1.Which site can I be able to read or listen to some of these fundamental news that rock the market as the news is being release or happen instantly. I use forexfactory but I can only read data and figures.

2.Can you recommend any book on market mechanics for me to read?

3.thanks You as usual, commander in pips.

Hi Ochills,
Actually I do not want to dissapoint you, but I do not trade news releases, may be only when I see strong technical setup. But FPA has corresponding part of forum, where even some software exists for trading it. And they discuss (make forecasts) relations between numbers and motion strength.
Concerning market mechanics... hardly you will find direct book that will be dedicated to it. As a rule, market mechanics described in relation to corresponding patterns. BTW, you can find a lot in our forex military school. May be we didn't cover every pattern but many of them have corresponding description of mechanics as well.

 

[Lolly Tripathy]

Euro$
possible bounce??

 

[Sipi]

Bingo!
Now let's see today's important data on EUR!