FOREX PRO WEEKLY September 23-27, 2013

[minimax]

Didnt like that short! Mistake to change direction? We will see...

 

[minimax]

Reentered long; this looks very much like impulse or at least zigzag with 2 impulses; potentialy 5-0 pattern developing.

 

[minimax]

Decided to take short, think last one before up...

 

[Dave Hanson]

Sive, you picked the S&P 500 rally on the nose. Started at 1687.5. Do you believe it's a reversal of trend, or just a retracement?

 

[minimax]

I think we have more than 50% chance to develop 5 waves c but I closed 40% of trade at 22,9 pips profit and set stop just above potential 2. We will see soon.

Good trading!

 

[Sive Morten]

Sive, you picked the S&P 500 rally on the nose. Started at 1687.5. Do you believe it's a reversal of trend, or just a retracement?

Hi Dave,
this is DiNapoli B&B Directional pattern. It has minimum target at 5/8 resistance of whole move down right from the top. It means that this target it should reach with high probability. But very often B&B's become starting point of greater upward continuation. Thus, it demands additional analysis.

 

[Ghandi1]

I think we have more than 50% chance to develop 5 waves c but I closed 40% of trade at 22,9 pips profit and set stop just above potential 2. We will see soon.

Good trading!


View attachment 11352

We are in a choopy zone, would like to play a long close to 3455, TP 353x. Short from there, risking the high and TP 339x

 

[minimax]

We are in a choopy zone, would like to play a long close to 3455, TP 353x. Short from there, risking the high and TP 339x

00,20, 50, 80 are prices to wait, especially when fibo level for swing is close; in your case I would wait to go below 50, but if my count is correct 50 will not hold the pressure, maybe 20?

 

[Ghandi1]

00,20, 50, 80 are prices to wait, especially when fibo level for swing is close; in your case I would wait to go below 50, but if my count is correct 50 will not hold the pressure, maybe 20?

The Risk for the long will be 3447+ spread. A long from 3450/55 TP >353x is a OK R/R.

 

[minimax]

This is the count in which I believe most, but will start asking about short if 1,35177 will be broken. You see, Ghandi1, if this as drawn will happen then 50, as I think, might serve just for small retrace.

Good trading!




ps: big wave is telling us undecission situation so even up is not excluded