FOREX PRO Weekly May 23-27, 2011

[pragmatic]

stone fell

Indeed I am frustrated! :hissyfit: It fell like a stone yesterday so I was afraid to enter long. Context was not so good also. In fact, all we had to catch this train was a DRPO on Hourly few days ago. Those who missed that, I doubt they entered later. Opportunity is very thin in FX!!! Today is Frieday, so... Maybe I'll be there for the next party...
Good call Sive for this B&B!

 

[jerry mtini]

eventual target

Hi Sive

Any idea for an eventual target for EURUSD? Maybe back up to the 13650 area?

rgds

 

[Q-Rick]

Sive,

Yesterday, when you said, "if market drops like a stone, don't buy it" . We didn't buy it. But you say, you did. Can you explain why you bought it, so that next time we can distinguish?

Thank you.

 

[Sive Morten]

Sive,

Yesterday, when you said, "if market drops like a stone, don't buy it" . We didn't buy it. But you say, you did. Can you explain why you bought it, so that next time we can distinguish?

Thank you.

Hi Q-Rick.
This has happened ocasionally. The point is that I have sleeping buy order. I didn't see the nature of the move when it was hit. Probably, if I see this move in real time - I also didn't buy it.

 

[Q-Rick]

Thank you, Sive.

Maybe "drop like a stone" is not so bad if we buy AFTER sudden drop dissipates a bit, on occasion. I know safety is first concern before profit, so thanks again.

 

[Q-Rick]

In yesterday's case, I think sudden market drop was related to a negative "news blip" about Portugal and market traded down suddenly. After just a little while, news got digested by market, stabilized and then slowly began trading back up. No one can foresee such things. Better safe than sorry. jmho

 

[jerry mtini]

Daily analysis?

Hi Sive

Do you only do weekly analysis now not daily signal anymore?
rgds

Jerry

 

[Sive Morten]

Thank you, Sive.

Maybe "drop like a stone" is not so bad if we buy AFTER sudden drop dissipates a bit, on occasion. I know safety is first concern before profit, so thanks again.

This is a question of probability, I suppose. Sometimes we can buy stone. But in multiple cases, odds are not on our side in this case.
But anyway, we should understand why that has happened. If this is due reasons that you've noted - then may we should try...
Besides, it's a bit personal.

Hi Sive

Do you only do weekly analysis now not daily signal anymore?
rgds

Jerry

Hi Jerry
I try to make daily updates in weekly thread, as well as daily videos.

 

[sanders]

Hello Sive,

here is another nice pattern i found on daily chart. It is a bullish 5-0 pattern, point C could be the same target like the point D from the crab pattern.

 

[Sive Morten]

Hello Sive,

here is another nice pattern i found on daily chart. It is a bullish 5-0 pattern, point C could be the same target like the point D from the crab pattern.

Hi Sanders
Really interesting -
I've never heard about something like that. Could you please specify parameters for identification of this pattern?