FOREX PRO WEEKLY October 14-18, 2013

[minimax]

Hello!

EURUSD is sitting on neckline of potential H&S pattern; on H2 looks like wave 4 is forming and some more sideways is expected, maybe even one more push up because it did not touch even 23,6 retracement and also macd histogram needs to get closer to 0 level; if there will not be some surprise I do not expect lower than 1,3450 or 1,3420/15 and then pullback to touch c=w low before lower.
However surprise is possible because currently & as it is, whole formation does not look to me neither for up neither for down!

Take care and good trading!

 

[minimax]

Some reading ... but does not give THE answer...

 

[minimax]

More reading - more pressure

FITCH PLACES UNITED STATES' 'AAA' ON RATING WATCH NEGATIVE

 

[seedof]

i think the fundamental factors are really weighing on market hence the reason why eurusd hasn't proceed to daily confluence area as all setup is nice for that move

 

[Lolly Tripathy]

hns 4hr

 

[minimax]

Hello,

busy day today,wasnt it? Cought short from last peak, was thrown out from long for few pips,now I am flat,waiting. To me looks like ending diagonal is in play so I will be extra cautios just below channel line which must not be touched if this is ED and if it will behave as expected again just below last LL and above 100% expansion of wave 3, as drawn.

Good trading!

H4

 

[minimax]

Hello!

Question: who needs weak US dollar right now?

Yesterday happened something in charts what made me thinking that it could be very possible that new higher high would not be established, so decided today to buy US dollars with big potential.
ps: because of competition rules can not set TP lower,hehe.

Good trading!

 

[Lolly Tripathy]

HI minimax,i like your previous post very much.(Question: who needs weak US dollar right now?)
i dont know much about Elliottwave
i got this chart from elliottwaveprediction dot com
what do you think abt it kindly share your opinion..
Thanks and regards

 

[minimax]

Hello Lolly

Hehe,this is the biggest problem with elliottitians: even if you lock them 10 in the room and give them only one instrument to analyse,you will get at least 20 analysis!

I know Sids site,I visit it from time to time but I am not his subscriber or fan. About his charts would like to say that I do not agree with any.
Analysis and trading are subjective and why would I blame someone for my decisions and losses?! Puting guilt from my shoulders to someone elses does not solve my main issue.

Last summer I attended CBs room (FPA member) and two of most important things I have learnt were: only swing above/below current high/low is really important and forget count on lower time frame if does not suit to higher time frame. And the third one is to believe and to protect for a case being wrong!
I do not invent the wave where is no swing (fractal), I hate if I have to accept no swing wave as corrective wave (bigger TF construction forced me to) and I really hate term ´truncated wave´.
An example: from Monthly low April there is no swing so this is only one move/pattern and each of us can find one; I found expanding trinagle on Weekly TF.



I talked about 138% trade long time ago and now we are here. 113% extension confluences/agrees into pip with 138,2% extension as limit of wave E of expanding trinagle. Yesterday Dukas copy made weekly low swing,FXCM did not, that is why I was sceptical we would make higher high.

I am preparing top down analysis on eurusd for Dukas contest and will publish here also.

Hope I told something useful and if I can help you with charts or whatever, here I am.

Good trading!

 

[Lolly Tripathy]

"''Analysis and trading are subjective and why would I blame someone for my decisions and losses?!
Puting guilt from my shoulders to someone elses does not solve my main issue"''

"Hope I told something useful and if I can help you with charts or whatever, here I am."




Thank you minimax for the quick reply
of course its useful.. and i really appreciate that line which you said..
that is very true... and for those two sentence i will respect you more..