FOREX PRO Weekly, November 22-26, 2010

Icarus

Private, 1st Class
Messages
81
Hello Sive. I missed EURUSD sell entry by only a couple of pips (during the night time where I live). Do you expect the pair to make back up some higher level again from where we might enter short? Or even to still hit 1.3797?
 

osasyankee

Private, 1st Class
Messages
34
All hail ''Sive The King''

''Sell from 1.3770-1.3790, target 1.3560, stop loss above 1.3810.''

1.3560 has been hit and surpassed. Sive, Thanks a lot for your guidiance;)
 

forexclues

Private
Messages
27
other entry points to go short

Hi sive morten

I missed the trade so i just want to ask if we can still have other entries to go short, maybe after some retracements upwards...

Thanks.
 

adams1

Private
Messages
20
Sir, what is the possible look of the eurusd today

Good day sir,
Thanks for the good work you are doing. Sir, what is the possible look of the eurusd today.

Warmest regards
Adamson Erha
 

Sive Morten

Special Consultant to the FPA
Messages
13,399
EUR/USD Daily Update, Tue 23, November 2010

Good morning,
Our B&B trade has done well. Currently market is struggling with further down move and I think, that it can show some retracement to the upside.
At the same time there are some important moments on daily time frame, that make me count on further move down;
1. After strong sell-off market has shown only 3/8 retracement;
2. Daily trend is bearish, and market neither oversold nor overbought
3. there is a nice bearish engulfing pattern on daily time frame
4. ABC target and Butterfly target Agree with 1.3250-1.3370 area of weekly support.

Now, in shorter-term... Personally, today, I'll be watching for retracement to 1.3610-1.3625 area - weekly pivot point and hourly confluence resistance. Move to this area should be gradual. If I'll see some signs of weekness there -then possibly I enter short with the target at least weekly pivot support 1 at 1.3494. Also there is an hourly ABC target at 1.35.
Just couple of warnings - if market will blast off through weekly pivot - don't be short. It means that retracement will be deeper on daily time frame. Second - tommorow market will be thin due Thanksgiving's eve.
 

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osasyankee

Private, 1st Class
Messages
34
Hi Sive, I never take a trade daily until I read your analysis and compare it with mine. It has been a success for a while now. Thanks for the good job.
 

Sive Morten

Special Consultant to the FPA
Messages
13,399
EUR/USD Daily Update, Wed 24, November 2010

Good morning,
yesterday market has not even reached our level of resistance to for entering on the short side of the market and shown strong sell-off right to upper border of our weekly support area 1.3250-1.3370.
Now, on daily time frame the next target is 1.3270 and I think that it should be achieved. In fact, the trading plan for the rest of the week is the same - use retracement on lower time frame to enter Short with target at 1.3270.
There are couple of levels to watch for - 1.3460 and 1.3520. If you'll see any ABC's that makes an Agreement with one of these levels, so, you can enter short.
 

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pringy

Private
Messages
18
Pivot points - if overrun

Hi Sive,

Usually when the a fibonacci retracements point have been 'overrun', it is discarded.

But what about pivot points that have been overun? e.g. penetrated initially early in the day, but retraces back to it - is it considered a good confluence area if there is a fibonacci retracement level there? And previous weekly/day highs and lows?

In determining a good confluence level, what is your rule of thumb :)

thanks!
regards
 
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