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Comment by talisman on January 12, 2013 at 3:49am

what does the top red line represent, if anything?

Comment by dev on January 12, 2013 at 4:41am

Hi.....ur chart is bulish....saeed chart is bearish....totally confused!!!!!!!  .....but i think monday movement will be bearish as per H8 chart...see pin bar!!!

Comment by Unni on January 12, 2013 at 7:06am

@Dev, I start trading again last month after a huge lose a year back and had to stay away for an year. I was not using any technical tools at that time . any way I was loosing what ever money I put into this. I am not sure the way I use the tools and read the chart is correct or not but I feel confidence about my reading this time which I never had before. Just started using the wave compare with MAV, FIb and Pivots, since last week. Saeed is an experience trader who use Wave as his main tool. So his view can be more correct than me .. but this is what I see. So trade at your own Risk :)

Comment by dev on January 12, 2013 at 7:41am

i never mentioned you are wrong but may be in longer timeframe (daily & above) but as per 4h &8h chart may be move would be lower direction...i also  lose enough money like you and i dont think anybody can say  that they have earned money consistantly in forex trading...

Comment by Unni on January 12, 2013 at 7:58am

@Talisaman, Actually I can see the price rage 1.3630 - 1.3700 rage. On daily chart it is forming wave C. and if you check the H4 chart, its forming a Triangle abcde. d is completed and its on e wave. I count e wave as 161.8  of wave d and hope it should end some where around 3700. But as my three trend lines intersect  @ 1.3650 area, to be safer side i put - 20 pips. Hope this clarifies.

Let me know if you have any other questions. Thanks.

Comment by Unni on January 12, 2013 at 8:08am

Please see the above chart and let me know if I am wrong

Comment by Unni on January 12, 2013 at 8:57am

and even if it cannot touch 1.3630-1.3700 area. it can at least hit 1.3412, 1.3487 area.  

Comment by Unni on January 12, 2013 at 11:49am

 A bit more detailed view


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