FOREX PRO WEEKLY, October 25-29, 2010

Mandrake

Corporal
Messages
138
Hi Sive,

Thanks for the excellent video explanation on the psychological mechanics of DRPO. I saw a lot of DRPO the past few days but now I understand that they are not.
 

Sive Morten

Special Consultant to the FPA
Messages
13,555
USD/JPY Daily Update, October 29, 2010

Gud'ay Ladies and Gentlemen,

We've talked much about GBP, EUR, AUD in recent days, so, I've decided to take a look at JPY...

Well, my long term expectations are still intact. Market is forming perfect AB-CD "Buy" pattern on weekly/monthly time frame with target around 78.50. And I think in should be reached.
Meantime o daily time frame DRPO "Buy" is possible, with the minimum target around 82.00. We should treat this possible move due DRPO as a retracement, because our long term target has not beeb achieved yet.
DRPO has not confirmed yet, there is no second close above the 3x3. I just attract your attention to it...
 

Attachments

m0z1

Private, 1st Class
Messages
54
Eur/usd

Hi Sive

Is this behaviour of EUR/USD normal for a butterfly pattern? How can we create the butterfly pattern in MT4 platform?

Thanks
Mili
 

srikanthsambath

Recruit
Messages
1
gold next???????????!!!!!!!!!!!!!!

Hi Sive,

as u said long before gold reached the target 1380 and could u tell what will be likely to happen next?
Kindly update weekly gold targets if u have time it will be helpfull for our army
 

Sive Morten

Special Consultant to the FPA
Messages
13,555
Hi Sive

Is this behaviour of EUR/USD normal for a butterfly pattern? How can we create the butterfly pattern in MT4 platform?

Thanks
Mili
Hi, Mili. What do you mean "How can we create the butterfly pattern in MT4 platform"? It does not depend on any platform. You do not need to use any specific tools or indicators for that. Just Fib expansion ratios... MT4 does have that.


Hi Sive,

as u said long before gold reached the target 1380 and could u tell what will be likely to happen next?
Kindly update weekly gold targets if u have time it will be helpfull for our army
Well, in one word, my long term target is 1500. This is a quarterly 1.618 expansion. But currently Gold is overbought at monthly and weekly time frames and has reached significant logical profit objectives. I expect retracement at least to 1250 per oz., before it will continue further move up.
 

Sive Morten

Special Consultant to the FPA
Messages
13,555
Need Some Help and Advice Here Sive Sir :unhappy:
This is possible, but currently I do not see any solid "sell" singal on low time frames. Besides, I think that Cable should go higher. It means that EUR can't go absolutely in other direction. Besides, 2 of November is FOMC Meeting, so week can be very volatile, and we can see upper break out of the diamond and then move to the downside. In one word, we need something more then just a diamond pattern. IT's not sufficient for context.
 
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