Some of my forecasts

[4xpipcounter]

That is just the nature of things. Just because India goes on holiday, it doesn't mean the markets do.
Here's something to look for. If Tuesday finishes at 4973 or close to it, look for a huge reversal spike.
Simply put, you got 2 days of buildup, then add to that Friday's volume. (This dawned on after I wrote the previous sentence.) You also have the beginning of a new month.
You got it right! Shut it all down. The best option is to make sure you are on the right side of the trade come Tuesday's close.

What could be more monstrous than the last 2 days (Monday this week, and Friday last week)? I guess I better disconnect the TV and internet until next week.

 

[2021]

That is just the nature of things. Just because India goes on holiday, it doesn't mean the markets do.
Here's something to look for. If Tuesday finishes at 4973 or close to it, look for a huge reversal spike.
Simply put, you got 2 days of buildup, then add to that Friday's volume. (This dawned on after I wrote the previous sentence.) You also have the beginning of a new month.
You got it right! Shut it all down. The best option is to make sure you are on the right side of the trade come Tuesday's close.

Dear Paul, today we saw a reversal spike already means if we come anywhere close to 4973 we'll see a reversal on downside? I gambled some longs now giving profits which I bought on last friday and as per your weekly levels 2 levels on upside contained and than easily broke today so I'm still keeping trades on long side. Do a reversal spike warning alarms to me to take profits at sub 4950 levels?

 

[4xpipcounter]

2021, yes, I believe 4973 will be short term containment as we head back to 4875.
The nasty spike it had out of the gates totally annihilated my S&R's, which is why I am using them as plotted by my software.

It is meant as a resounding alarm. We are near a ST containment, and the market will be close for 2 days leading into Friday and the beginning of a new month.

I don't like to tell anyone how to trade, and I am not a signal provider, but warning bells are ringing.

As for the benefit of others, and you all know I don't trade Nifty: Look back on days after holidays and take note of spike and/or strong moves.
In this case, we do have some chart implications, but we also have the strong event confluence:
1. 2, not 1-day break.
2. The next day is a Friday, the biggest day of the week. (Just look at the activity the day after Thanksgivings here in the USA.)
3. It is also the beginning of a new month
4. Add to all this the nearing of ST R.

I will say if it is hit on Tuesdays, and the correction begins, then there will be less of an impact.

Dear Paul, today we saw a reversal spike already means if we come anywhere close to 4973 we'll see a reversal on downside? I gambled some longs now giving profits which I bought on last friday and as per your weekly levels 2 levels on upside contained and than easily broke today so I'm still keeping trades on long side. Do a reversal spike warning alarms to me to take profits at sub 4950 levels?

 

[4xpipcounter]

Re: Aud/usd

This appears it is going to be a bounce only. 1.0613 is minimum expectation. If this is only a bounce then we will get a strong move to the WR2 at 1.0704.

Needless to say, if the above scenario happens, then this entry in my Weekly Forecast will be wrong.


This drive north for the Aussie has had some teeth in it. It's about to come to an end. Look for the WR1 at 1.0638 to at least be temporary containment, if not be a complete reversal for the week. The nature of the initial move will tell a lot. For now, look for containment to be circa 1.0496.[/QUOTE]

 

[EagleOne]

Paul, the way I am looking at the whole thing. I think your Nifty forecasts still haven't reached the 'sell-by-date'.

Have a good look at Nity's lower TFs.

 

[asmibee]

I feel inverse head and shoulder is in the making. Nifty may test 4800 level in coming 2 days which will be right shoulder of the pattern. If the inverse h&s is validated we may see 5200 level in next week itself.

 

[4xpipcounter]

Okay, I looked at my 15-min. Sell by Friday. Just joking!

Are you actually implying I need to not only give you the reversal point, but the exact date, too!?!?

Paul, the way I am looking at the whole thing. I think your Nifty forecasts still haven't reached the 'sell-by-date'.

Have a good look at Nity's lower TFs.

 

[4xpipcounter]

Asmibee, you mean this is your first-ever post at TJ, and my thread is so-honored?

I tend to agree with you (Not that I'm looking at it in lieu of the H&S, but that's okay.). There's clusters of S from 4838 --4812. There is a possibility for a spike through that event. From there, the recent top, whatever it will be, gets blown off, and then we head higher. Depended on the velocity of the move, strong R will be circa 5200 by virtue of the bottom of the 4-hour cloud. I don't expect a sprint, so it could be a little less than 5200.

I feel inverse head and shoulder is in the making. Nifty may test 4800 level in coming 2 days which will be right shoulder of the pattern. If the inverse h&s is validated we may see 5200 level in next week itself.

 

[Piratetrader]

Hello sir, Ithink sir your inbox is flooded every hour so my one would have gone way down sir after reading page 86 about bounce (on gbp/usd) I had 1 confusion!!When a S or R is hit we enter in the opposite direction and the TP is always most conservative at 38.2% but you have mentioned between reference points. I didn't get what are WP? fibo's are marked between WP and R/S( that has been hit) so sir what are WP and how do i spot WP! and mark the fibo between them!

I GOT YOUR EMAIL RIGHT NOW SO DON'T REPLY SIR! !!!!!!

 

[4xpipcounter]

Usd/cad

This pair is headed for one more leg south to the daily kijun at .9707, before a more substantial reversal.