FOREX PRO Weekly April 29 - May 03, 2013

[cosmos]

Possible H&S/Double top appearing on 5,15 and 30 minute time frames. Target 1.3035 area

 

[Dave Hanson]

papao, I didn't blame Sive. I am responsible for my own losses. I simply agreed with him that he was being "stubborn" and "stupid." Watch the vid and you'll hear him say that. Before you criticize me, read my post more carefully and learn the facts.

 

[Dave Hanson]

That's a valid point, Ghandi1, although 3115 was also taken out.

 

[cosmos]

This is not a signal service. It is an education forum. Anyway, there is s till a chance the pair will turn bearish. Some other signs have appeared for this. Have you gone through the course he has written? One has to watch for bearish signals before taking a short, and bullish signals before going long, even inside of an overall plan.

I have to agree with you, Sive, respecting your comment that you're being "stubborn" and "stupid" re euro going to 12920. You Apr 29 euro vid recommended shorting at 13055-62 and placing stop in 13101 area. I entered at 13055 as the correct 5-min pattern appeared after the open at 13062 & quick jump to 13065. The euro did drop to 13036 but then turned & never looked back. The result was a $575 loss + commission. You said that if it rose through 13048 & continued higher, the Butterfly was invalidated. It went to 13121 before retracing a bit & now looks to be ready to eclipse that price.

 

[Ghandi1]

That's a valid point, Ghandi1, although 3115 was also taken out.

The Target and where you should place your SL is not the same thing. If you place your SL on the Target you will be stop out. It is normal to retrace some after a Target is hit, maybe we will go back to 2950-2980 area and then 322x area, or we will have a minor pullback and Target 3160-3180 area. Who knows...

 

[ransomevm]

Hi Cosmos, what is the curved graph indicator you are using? and plz share some more info on how you are predicting.
Thanks in advance.

 

[tun13]

Sir Sive,thank you very much for your analysis,as i have stated before(sometimes back) "IT IS A PRICELESS GIFT".Taking full responsibility of our trades good/bad is the key to becoming an outstanding trader,please Sir i can't wait for you Daily analysis Sir !!!

 

[snegdk]

Good day everyone! Now it looks like some big players collected s/l placed on previous tops and we have a big bearish candle. Waiting impatiently what will Sive tellus about the current situation.

 

[Sive Morten]

I have to agree with you, Sive, respecting your comment that you're being "stubborn" and "stupid" re euro going to 12920. You Apr 29 euro vid recommended shorting at 13055-62 and placing stop in 13101 area. I entered at 13055 as the correct 5-min pattern appeared after the open at 13062 & quick jump to 13065. The euro did drop to 13036 but then turned & never looked back. The result was a $575 loss + commission. You said that if it rose through 13048 & continued higher, the Butterfly was invalidated. It went to 13121 before retracing a bit & now looks to be ready to eclipse that price.

Hi Dave,
I'm really sorry that your trade has such miserable result, but let me ask some questions.

1. How you can enter short if market has opened with gap up - and has erased butterfly pattern by the first candle right after the gap? Have you read Weekly thread short-term analysis - trading should be based on butterfly. If it has been cancelled right at the first opened candle - how have you traded it?

2. Probably you should read our Forex Military School, chapters dedicated estimating of position size. That will let you take reasonable loss - as mentally as in cash.

This thread is not a signal service. This is analysis assistance.

 

[FreddyFX]

Hee guys, in gringo land north of me they have a word: CHILL !!!

I think Dave words are getting incorrectly interpreted, as he is more writing down what went on in his mind than as a complaint against Sive.

So for me, I keep being STUPID and STUBBERN and keep trying to learn what Master Sive is teaching every time.

..................and I LOVE this present drop, keep falling EU, keep falling.