Stag
Sergeant
- Messages
- 206
FOREX PRO WEEKLY, February 26-02, 2018
- Thread starter Sive Morten
- Start date
Stag
Sergeant
- Messages
- 206
Hi Venelin, your ABCDE count down to 1.03x is invalid, but the nature of the expected price move is OK.
RogerTC
Special Consultant to the FPA
- Messages
- 352
Hehe ok Butcher, now I know that you share the content of Pieters Videos, not just the info but also the words you use are exactly the same
But continue by all means, the info is great and his and Sives Videos are the ones I love! Maybe someone who likes them will sign up on fibtrader.co.za/ for them
Cheers
Hi Lan
Good to see you are a subscriber.. Pieter is reading the markets weekly.
I m planing to update weekly forecasts during the week to guide traders how to trade those levels with right trade plans...If I can find time of course.. (Similar to crypto trades)
Regards
Stag,
Please keep posting, I like the analysis and learning a method that might confirm or support/contradict Sive's excellent analysis. Thank you for the info regarding the Elliott Principle. Sive as always thank you for the analysis and help understanding the market. I started Dinapoli around 8 years ago. This past year it finally started clicking where I was utilizing the Monthly and weekly charts to support my plan. Watching MACD crossing and taking position on retracements. Longer term trend trading will allow you to make a profit, however not all of the profit. Still learning not to chase. Some weeks are good sit-on-your-hands weeks.
Please keep posting, I like the analysis and learning a method that might confirm or support/contradict Sive's excellent analysis. Thank you for the info regarding the Elliott Principle. Sive as always thank you for the analysis and help understanding the market. I started Dinapoli around 8 years ago. This past year it finally started clicking where I was utilizing the Monthly and weekly charts to support my plan. Watching MACD crossing and taking position on retracements. Longer term trend trading will allow you to make a profit, however not all of the profit. Still learning not to chase. Some weeks are good sit-on-your-hands weeks.
Venelin
Master Sergeant
- Messages
- 430
Sorry,labeling is invalid indeed, it was not deleted from another count.
IanN
Private, 1st Class
- Messages
- 33
Hey
that would be so awesome. I would love getting updates under the week. Consider me your devout follower then
and yes if you learned from Pieter himself then this explains it. But then of course proper analysis with the same method has to reach the same conclusions... It was just the same wording that made me smile and have deja vu
Sive Morten
Special Consultant to the FPA
- Messages
- 18,655
Morning guys,
Today we will be watching for Powell first testimony in Corgress and PCE release. Reuters expects PCE at 1.5%, so if you trade data releases - watch for this level as on average. PCE probably will become major driving factor today...
On dollar index market has followed to our secondary scenario and has formed downside AB=CD retracement instead of upside butterfly. This was good chance to go long. Unfortunately I've missed it, because I was waiting for the same scenario on EUR but it has not been completed. So, DXY has formed AB-CD and butterfly down right to K-support area.
Still, it seems that retracement is not over yet. Although initial setup on EUR has been cancelled but market right now does not continue move down but turning up again and has formed bullish grabber on hourly chart. It means that on EUR we still could reach 1.2370 K-resistance on hourly chart and completion of AB=CD pattern:
So, 1.2350-1.2370 K-area and Agreement looks attractive for short entry attempt...
Today we will be watching for Powell first testimony in Corgress and PCE release. Reuters expects PCE at 1.5%, so if you trade data releases - watch for this level as on average. PCE probably will become major driving factor today...
On dollar index market has followed to our secondary scenario and has formed downside AB=CD retracement instead of upside butterfly. This was good chance to go long. Unfortunately I've missed it, because I was waiting for the same scenario on EUR but it has not been completed. So, DXY has formed AB-CD and butterfly down right to K-support area.
Still, it seems that retracement is not over yet. Although initial setup on EUR has been cancelled but market right now does not continue move down but turning up again and has formed bullish grabber on hourly chart. It means that on EUR we still could reach 1.2370 K-resistance on hourly chart and completion of AB=CD pattern:
So, 1.2350-1.2370 K-area and Agreement looks attractive for short entry attempt...
Sive Morten
Special Consultant to the FPA
- Messages
- 18,655
Good morning,
So, Powell's speech mostly was supportive to USD and we see reaction on market. Our suggestion mostly was correct and EUR indeed has continued move down. Now price stand at the same 50% support area of 1.2250 that already has been tested once. Still, our major target for this week stands at 1.2150-1.2170. This is rather strong K-support, close to daily OS and take a look - here we also will have an Agreement with daily AB-CD COP target. So, if you keep shorts - think about profit taking/protection of your position around this area.
Second - as soon as market will hit 1.2150 area we could get relatively rare DiNapoli "oops!" directional pattern. As you can see we have clear shape of Double Top pattern. It's classical target stands around 1.19 area and next major 5/8 Fib level. But existence of strong support at 1.2150-1.2170, just under neckline, increases chances of DT failure. So, we will be watching for Buy opportunites around Confluence area.
On 4-hour chart market finally has reached our OP support area and WPS1. So, may be minor bounce up will happen here:
If it really will take place - we could get nice B&B "Sell" setup on hourly chart, that should start somewhere from 1.2265-1.2270 area. Also this B&B "Sell" could let us to take position right till daily COP @1.2170. So, potential looks not bad...
So, Powell's speech mostly was supportive to USD and we see reaction on market. Our suggestion mostly was correct and EUR indeed has continued move down. Now price stand at the same 50% support area of 1.2250 that already has been tested once. Still, our major target for this week stands at 1.2150-1.2170. This is rather strong K-support, close to daily OS and take a look - here we also will have an Agreement with daily AB-CD COP target. So, if you keep shorts - think about profit taking/protection of your position around this area.
Second - as soon as market will hit 1.2150 area we could get relatively rare DiNapoli "oops!" directional pattern. As you can see we have clear shape of Double Top pattern. It's classical target stands around 1.19 area and next major 5/8 Fib level. But existence of strong support at 1.2150-1.2170, just under neckline, increases chances of DT failure. So, we will be watching for Buy opportunites around Confluence area.
On 4-hour chart market finally has reached our OP support area and WPS1. So, may be minor bounce up will happen here:
If it really will take place - we could get nice B&B "Sell" setup on hourly chart, that should start somewhere from 1.2265-1.2270 area. Also this B&B "Sell" could let us to take position right till daily COP @1.2170. So, potential looks not bad...
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