FOREX PRO Weekly May 30- June 03, 2011

EUR/USD Daily Update, Wed 01, June 2011

Good morning,
market gradually approaches to some resistance levels. They are 1.4450 - Fib extension resistance, daily overbought for today 1.4440 and 1.27 extension from recent swing down.
So, if market intends to start retracement it should start from 1.4450 area.

On 4 hour chart we see 3 stop grabbers in a row that relatively confirm assumption that market should show some up move first before retracement will start. The same is on hourly chart.

The area to watch for as a potential Buy oportunity is 1.4330 - this is daily disrespected Fib resistance, houly confluence support and previous highs.
 

Attachments

  • EUR_D_01_06_11.PNG
    EUR_D_01_06_11.PNG
    44.3 KB · Views: 127
  • EUR_4H_01_06_11.PNG
    EUR_4H_01_06_11.PNG
    42.1 KB · Views: 129
  • EUR_1H_01_06_11.PNG
    EUR_1H_01_06_11.PNG
    43.2 KB · Views: 126
Thanks for the Great analysis sir .. i neva look at monthly chart ..! :embarrassed: due too i am an Intraday trader .. happy with scalps...! bt sir ..i found an INtersting One2One Harmonic Pattern(Bryce Gilmore) on Euro/Usd Monthly .. do u think it can work! :err:
 

Attachments

  • audjpy.gif
    audjpy.gif
    17.9 KB · Views: 92
Last edited:
H1 DRPO Sell?

Hi Sive,

Can we consider H1 DRPO Sell in the making now for EURSD?:confused:
Also I see a divergence on H4, MACD turn to bearish and Stoch at high level.
Can I watch the movies now if my Short Order as per your today analysis?

Thanks a lot for your advice.

Best Regards.
 
Thanks for the Great analysis sir .. i neva look at monthly chart ..! :embarrassed: due too i am an Intraday trader .. happy with scalps...! bt sir ..i found an INtersting One2One Harmonic Pattern(Bryce Gilmore) on Euro/Usd Monthly .. do u think it can work! :err:

Well, I do not know all patterns :). May be. We look at 1.37 area mostly due monthly overbought and potential bearish engulfing. Also it's monthly confluence support.

Hi Sive,

Can we consider H1 DRPO Sell in the making now for EURSD?:confused:
Also I see a divergence on H4, MACD turn to bearish and Stoch at high level.
Can I watch the movies now if my Short Order as per your today analysis?

Thanks a lot for your advice.

Best Regards.

Looks like we do not have DRPO on hourly EUR/USD. Be careful with short position, because our major idea is not to Sell, but watch possibility to buy and we want to use potential retracement down for that purpose.
 
Looks like we do not have DRPO on hourly EUR/USD. Be careful with short position, because our major idea is not to Sell, but watch possibility to buy and we want to use potential retracement down for that purpose.[/QUOTE]

Roger Sir. Thanks again for your advice.
 
Well, I do not know all patterns :). May be. We look at 1.37 area mostly due monthly overbought and potential bearish engulfing. Also it's monthly confluence support.

:err: yeah sir ... i read this all stuff ! for learning .. :nerd: and after that figure out myself with confused head!!!! :err: sir any advice for me .. do u think reading and learning this stuff is bad .. becoz all i thing learn from you , Gartley 222 , butterfly , railroad track , kiss and goodbye .. working for me .. if i trade 10 minimum winning 6 and due too 2:1 i am gaining lot( I am using that one u teach me .. i am entering in to the Agrement area .. with two mini's closing one with stoploss pips . and leaving one with same stoploss and target,due to this .. i am nearly having no loss!all free's! Bow too yoU!)

sir do u think .. i must stop reading all .. ?
 
Well, I do not know all patterns :). May be. We look at 1.37 area mostly due monthly overbought and potential bearish engulfing. Also it's monthly confluence support.

:err: yeah sir ... i read this all stuff ! for learning .. :nerd: and after that figure out myself with confused head!!!! :err: sir any advice for me .. do u think reading and learning this stuff is bad .. becoz all i thing learn from you , Gartley 222 , butterfly , railroad track , kiss and goodbye .. working for me .. if i trade 10 minimum winning 6 and due too 2:1 i am gaining lot( I am using that one u teach me .. i am entering in to the Agrement area .. with two mini's closing one with stoploss pips . and leaving one with same stoploss and target,due to this .. i am nearly having no loss!all free's! Bow too yoU!)

sir do u think .. i must stop reading all .. ?

Hi Jyotiprakash
Nice, quest pal.
What can I say...
1. you may go farther and fare worse
2. the best is oftentimes the enemy of the good
Etc...
The major task for us is to find trading approach that is most suitable to us from all point of view - timing, personality, psyche etc. Of cause it has to be profitable.
May de you've found it already?
If not - investigate other tools, who knows, may be you will get even better results.
 
Back
Top