FOREX PRO WEEKLY, October 18-22, 2010

[dezza33]

Thanks Sive,
I enjoyed your analysis this week. The detail was great and give me a very good idea of price direction, finger crossed.
I would like to ask if you could post a link for Double Repo reverse pattern explanation to explain how pattern finishes, please ??. I tried a google search but there were no good explanation available

 

[forexclues]

thanks

thanks Sive Morten............I really appreciate it.

 

[Sive Morten]

Thanks Sive,
I enjoyed your analysis this week. The detail was great and give me a very good idea of price direction, finger crossed.
I would like to ask if you could post a link for Double Repo reverse pattern explanation to explain how pattern finishes, please ??. I tried a google search but there were no good explanation available

Hi, Dezza,
You mean DRPO "Buy" or DRPO Failure?
What is a "Reverse"?

 

[Sive Morten]

EUR/USD Daily Update, Tue 19, October 2010

Good morning,
Yesterday we've not recieved as close below 3x3 as weekly pivot point.
At the same time monthly pivot resistance 1 around 1.3960 holds market very tight and today it's again below weekly pivot.

Currently, there are two important moments. First - market should not return above 1.4030 area and stay there. It can pierce 1.40, that's OK, but not hold there for the long time. If it will be so, then, possibly up move will continue.

Second, look at 4-hour chart - market is forming the H&S pattern currently. But right shoulder has not been accomplished yet in the sense of term. I think that some time should pass, before this pattern will be ready for trigger - around 21-22 of October. I prefer to see harmonic H&S as in price as in term and right shoulder is too short-term now.

Today, I expect move to 1.3810 area and taking out of a recent lows around 1.3830, but I do not expect that market will go down further, due to H&S pattern, that is not accomplished yet. How it will be by fact, who knows...

So, that's being said, I do not want to see return above 1.4030 and i think that some time should pass before reall move down starts. Nearest target is weekly pivot support 1 at 1.3763

 

[forexclues]

thanks for the update

thanks for the update..........it has helped me significantly

 

[dezza33]

Quote:Originally Posted by dezza33
Thanks Sive,
I enjoyed your analysis this week. The detail was great and give me a very good idea of price direction, finger crossed.
I would like to ask if you could post a link for Double Repo reverse pattern explanation to explain how pattern finishes, please ??. I tried a google search but there were no good explanation available

Quote:Hi, Dezza,
You mean DRPO "Buy" or DRPO Failure?
What is a "Reverse"?

hi Sive,
yes, that is what I meant. I haven't seen this pattern before and I was after a picture of the price direction, please

 

[m0z1]

gbp/usd target for the 3rd drive

hi sive

Thank you for your brilliant analysis.

I have read last weeks analysis on gbp/usd with respect to the 3-drive sell. Is it correct to assume that the target for the 3rd drive is around 1.57?

Looking forward to hearing from you.

Thanks
Mili

 

[Sive Morten]

Quote:Originally Posted by dezza33
Thanks Sive,
I enjoyed your analysis this week. The detail was great and give me a very good idea of price direction, finger crossed.
I would like to ask if you could post a link for Double Repo reverse pattern explanation to explain how pattern finishes, please ??. I tried a google search but there were no good explanation available

Quote:Hi, Dezza,
You mean DRPO "Buy" or DRPO Failure?
What is a "Reverse"?

hi Sive,
yes, that is what I meant. I haven't seen this pattern before and I was after a picture of the price direction, please

Ok, I've found one. I've trade it personally - excellent example of DRPO Sell on daily Corn - see attachment

hi sive

Thank you for your brilliant analysis.

I have read last weeks analysis on gbp/usd with respect to the 3-drive sell. Is it correct to assume that the target for the 3rd drive is around 1.57?

Looking forward to hearing from you.

Thanks
Mili

Hi, Mili, yes, the minimum target is a low between 2 and 3 drives. But it does not mean that market should stop there... it's just a minimum level, that market usually reaches.

 

[Sive Morten]

AUD/USD B&B Trade, Wed 20, October 2010

Good morning,

Aussie has nice combination for daily B&B trade. On daily time frame market shows perfect thrust, and yesterday has closed below 3x3 DMA, reaching daily Confluence support area.

On hourly chart market has accomplished 1.618 Fib expansion target directly at daily Confluence support (that is Agreement btw) and has shown hourly DRPO "Buy". So, possibly we can enter on a retracement after initial thrust of a DRPO.
Target of this daily B&B trade - 0.98 area roughly

 

[forexclues]

about eur usd

hi sive

concerning the eur usd trade our target has been but my analysis favours further downside potential but with no specific target yet...............
...........................???????

or is it finished