Two factors can help you to affect the supervision of weekly trend: Friday currency pairs movement on American stock exchange and opening GAP (significant difference between the price at the end of previous and beginning of following day) at midnight from Sunday to Monday (Asian session). The result is money pairs draw their resistance levels, breaking through one of them they turn it into support level, push off from it and will move in this direction the entire week.
Between American session on Monday and Asian session on Friday the channel of pikes resistance levels (by fractals and zigzags) determines the starting point of currency pairs breaking through up and down and as a rule, the whole week move in the preset direction. The first and vital moment of currency pairs' behavior on Forex market is their movement on Friday at American stock exchange. It is test through released news, strength and trend direction. If extremely negative or positive news issue did not influence the cash pairs' fluctuations on Forex market on Friday, it means that brokers and banks were not ready to such fluctuations and movement will start on Monday.
There are two variants of enhancements, if currency made abrupt jump in trend: 1) New trend wave, for example 400 pips, which currency pairs moved in for the previous week, turns by Elliot into the first wave and the third wave in the same bearing will be equal to 640 pips which is 60 % longer and 2) Being at the beginning of medium-term trend wave from h4 to daily and weekly charts in this case pullbacks are from 23% to 62% - movement is trend-forming - new week - new jump along the trend.
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Wednesday, February 17, 2010
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