FOREX PRO Weekly February 18-22, 2013

[Netgold777]

Lol. I am hanging onto my vest)))

 

[squidge42]

Hi Squidge,
could you please clarify a bit more - where we could get bearish stop grabber. The chart attached - will be much better.

Sorry. yes on the 4h, where you say that MACD is ready to turn bullish. Price is very near my MACDP line

 

[Sive Morten]

Hm, the bullish stop grabber may be, but bearish... Currenty I do not see any hints on that.

 

[squidge42]

Hm, the bullish stop grabber may be, but bearish... Currenty I do not see any hints on that.

this is what I'm looking at 4hour chart with macd predictor

 

[Sive Morten]

this is what I'm looking at 4hour chart with macd predictor
View attachment 8386

Oh, yes, indeed. Nice stop grabber (Looks like I've messed the charts yesterday, was busy with Gold research).

 

[JohnnyInamoto]

Hey Sive,

Sorry for the silly question, but what's a stop grabber? I've Googled it and can't find much about it.

Thanks
Johnny

 

[Sive Morten]

Hey Sive,

Sorry for the silly question, but what's a stop grabber? I've Googled it and can't find much about it.

Thanks
Johnny

Hi Johnny,
this is a special directional pattern that was invented by Joe DiNapoli and demands application of his MACD Predictor indicator. In general, this is a failure of trend shifting by MACD, that forces traders to take this uncofirmed trend shifting, but later, when previous trend direction holds - these traders who have taken unconfirmed trend shifting become trapped in wrong direction. Usually stop grabber leads market in opposite direction to the stops of these traders. That's why it calls like that.
Try to "search" my thread - you will find a lot on this topic.

 

[ivans990]

Hi Sive,

Where would you exactly put the stop entry order, below the border of Pennant or below the whole pattern (cca 1.3305)?

Thank you for the answer.

Best regards,
Ivan

 

[Sive Morten]

Well, I place below 1.3322 low, and it has not been triggered yet (although just few pips rest)

 

[tun13]

Hello Mr Sive,i would like to draw your attention to a downward channel on the 4 hour Euro chart.At the time of this writing the Eur is at 1.3386 i.e it has broken the bearish pennant which you pointed out today,so the upper end of the channel line coincides with WK R1 which i think should be where we should search for short entry.