Forex FOREX PRO WEEKLY, September 19 - 23, 2023

[Sive Morten]

Thank you Sive, for comprehensive analysis as always. I am on the path to becoming a professional wealth manager, which owes a great deal to your daily analysis and insights (I prefare to call them lectures, lol) on how to build a trade context and other trade related matters. (You were my first real role model in this industry, in my over 15 years journey. You helped keep my dream of becoming a profitable trader alive when I was very frustrated and almost gave up. God bless you abundantly) ....

Dear Adeyemi, thank you for so high rating of my job here. Actually, only the single thing - that my job here gives you an inspiration to do your own job and keep going forward is a big reward, despite how useful or correct my analysis per se (LOL).

I have received this doses for over 10 years now, and honestly, every of your detailed analysis, especially the weekends own still humbles me every time! (I cant help but wonder when I will be this good! I hope so someday).

To be honest, you're a bit overvalue my abilities and knowledge. Because many things and materials I also take from other analysts, some data arrays, charts etc. I see my mission to compile different materials , make correct conclusion and build a trading plan.

Personally, I am working on an educational project that should be fully active by 1st - 2nd quarter of 2023, that will lead more clients and users to this site for more tractions and visibility (I hope and pray it significantly increase the commercial value of you and this website). I employ us all to direct more people to this wonderful content, and also share the content is our various social media channel, where applicable.

Your Silent Mentee
Adeyemi Gbadamosi

it sounds great. Thank you for all efforts. FPA tries to keep all data, materials here free, but the other side of medal is advertisement, because it is rather costly to keep big site with free material. If it will be more visitors - this just make site better. Thank you.

 

[Sive Morten]

Morning guys,

So, it seems that EUR keeps our trading plan, turning down from specified 1.0050-1.0060 area, even without attempt to spike it to complete 4H OP target, mentioned yesterday. Now, on daily chart market is flirting with MACD line, keeping theoretical chances on the grabber appearing. But, to be honest, this grabber doesn't fit to overall context. Within recent few weeks market stands flat, although forming significant swings. This is start looking like rising bearish dynamic pressure suggesting downside acceleration. Fed decision might become great catalysts for this action:

As a near term target, we probably could use 4H Butterfly extensions. Especially because 0.9750 coincides with monthly butterfly target.

Market now is turning to extension mode again. And if you still decide to pass through Fed doom&gloom , taking short position, it is not needed to consider far standing resistance levels and big swings. You could just focus on current downside swing and its Fib levels. If everything will be OK - these levels and swing will hold, if not and Fed takes dovish decision, even farer standing levels will not help. So, it makes no sense to consider extended Fib levels.

Also do not wait for deep pullback for position taking, because major retracement already is done. One of the possible solutions might be consider nearest 3/8 for entry and 1.0-1.0024 K-area or 1.0050 for stop placement. Now market is dropping, levels will follow it, but idea is the same.

 

[anthony egbiwe]

Thank you Sive, for comprehensive analysis as always. I am on the path to becoming a professional wealth manager, which owes a great deal to your daily analysis and insights (I prefare to call them lectures, lol) on how to build a trade context and other trade related matters. (You were my first real role model in this industry, in my over 15 years journey. You helped keep my dream of becoming a profitable trader alive when I was very frustrated and almost gave up. God bless you abundantly)

I have received this doses for over 10 years now, and honestly, every of your detailed analysis, especially the weekends own still humbles me every time! (I cant help but wonder when I will be this good! I hope so someday).

I am proud to call you my Mentor, please keep up the great job!!!

"Forex Military School Trading Course" in the book section, still remains the best guide and most complete curriculum to any aspiring professional trader, I have recommended it to all my mentees without any regret!

Personally, I am working on an educational project that should be fully active by 1st - 2nd quarter of 2023, that will lead more clients and users to this site for more tractions and visibility (I hope and pray it significantly increase the commercial value of you and this website). I employ us all to direct more people to this wonderful content, and also share the content is our various social media channel, where applicable.

Your Silent Mentee
Adeyemi Gbad

My brother I am glad to see that you follow sive as i do. Hope we shall meet one day I live in makurdi , benue states

 

[soul rebel]

Dear Adeyemi, thank you for so high rating of my job here. Actually, only the single thing - that my job here gives you an inspiration to do your own job and keep going forward is a big reward, despite how useful or correct my analysis per se (LOL).




To be honest, you're a bit overvalue my abilities and knowledge. Because many things and materials I also take from other analysts, some data arrays, charts etc. I see my mission to compile different materials , make correct conclusion and build a trading plan.


it sounds great. Thank you for all efforts. FPA tries to keep all data, materials here free, but the other side of medal is advertisement, because it is rather costly to keep big site with free material. If it will be more visitors - this just make site better. Thank you.

Dear Sive, like others who have been following your work for many years I think perhaps you undervalue just how much you bring to the table - besides technical analysis, by listening to your daily commentary I have learned a great deal about price action and patterns; trade execution/management; planning & strategy; trading psychology and so much more.

Putting everything we see into perspective so that we can trade these markets is your talent, much appreciation and thanks for all the work you put into helping others - God Bless

 

[Sive Morten]

Dear Sive, like others who have been following your work for many years I think perhaps you undervalue just how much you bring to the table - besides technical analysis, by listening to your daily commentary I have learned a great deal about price action and patterns; trade execution/management; planning & strategy; trading psychology and so much more.

Putting everything we see into perspective so that we can trade these markets is your talent, much appreciation and thanks for all the work you put into helping others - God Bless

Thank you, Viresh, guys.

 

[Sive Morten]

Morning everybody,

So, recent EUR action is not surprising, but what is interesting - even with 0.75% Fed move downside drop happened. It just tells that how heavy sentiment is. Still, everything goes with our plan and now it is nothing to do but just watch for completion of 0.97-0.9750 target. On daily chart we also have local AB-CD pattern with 0.97. Oversold level doesn't prevent target reaching here:

On 4H chart we're going with the same butterfly. It's target agrees with the monthly one at the same 0.9750 level:

On 1H chart we do not have something special. Bulls have to wait for completion of major target and appearing some reaction before consider long entry. The only trades that seem possible here - based on recent downside thrust, DRPO or B&B "Sell". B&B seems more logical, as major target of 0.9750 stands untouched.

 

[Sive Morten]

Greetings everybody,

So, obviously market needs some emotional rest after tough Wed, and yesterday we've talked only about possible intraday patterns, with B&B a bit higher chances to happen. In fact - it has been formed. Daily picture has not changed and we watch for our major 0.97-0.9750 destination area, completion of monthly butterfly first target.
This is the reason why bulls have nothing to do by far, as we need to get target completion - first and upside reaction - second. With current market sentiment it might be costly to anticipate this.

Meantime on 4H chart - we're watching for the same butterfly as its target stands close to the monthly one.

While on 1H chart you could see B&B performance and another minor butterfly that also perfectly agrees with the same 0.9750. As we've said B&B probably should become downside continuation pattern, but not only lead price to minimal target. So, if you have short positions, you could hold them and meantime think what you will do around 0.9750...

 

[knight270]

My brother I am glad to see that you follow sive as i do. Hope we shall meet one day I live in makurdi , benue states

Yes oo, I hope so too my brother. Nice to meet you here. I am based in Lagos.