FOREX PRO Weekly April 25-29, 2011

[Sive Morten]

Hi Sive. Thanks for all supportive information you are sharing with us. Can you please tell me how can I get predictor indicators?
Thanks again. :embarrassed:

I depends on your trading platform. There is no licensed DiNapoli pack for MT4.
Other software is rather expensive.
Please read the notification in root of forum about DiNapoli indicators.

 

[Icarus]

Hi Sive, I notice that the MT4 platform now has DiNapoli template built into it. If you ever use the MT4 for tutoring, perhaps you could load this template and show us how you would use its tools.

 

[Sive Morten]

Hi Sive, I notice that the MT4 platform now has DiNapoli template built into it. If you ever use the MT4 for tutoring, perhaps you could load this template and show us how you would use its tools.

Hi Icarus
Hm, I suppose that some notification should be on official DiNapoli website.
I do not see any...

 

[nicolebobbin]

Hi Sive, I notice that the MT4 platform now has DiNapoli template built into it. If you ever use the MT4 for tutoring, perhaps you could load this template and show us how you would use its tools.

Yes, I do saw this default template in any MT4 platform,

 

[Sive Morten]

Yes, I do saw this default template in any MT4 platform,

Ah,
I understand what you're talking about. This indicators are not correct.
They have been just gathered in single template - Stoch, MACD and something else... But formulas of these indicators are not the same as DiNapoli.

 

[Sive Morten]

EUR/USD Daily Update, Tue 26, April 2011

Good morning,
Monday's trading session was thin due holiday in Europe, so, overall picture has not changed much.

On daily time frame trend is bullish. And I still think that our attention should be focus on 1.4450 area - Fib support, pivot point and previous 0.618 Fib extension target. Market should hold above it to prove us that it intends go up further.
Currently only single thing that points on this potential - CD leg is much faster than AB on recent AB-CD pattern. Usually when it happens, market chould reach 1.27 or even 1.618 Fib extension targets.

On 4 hour chart
we see additionally that here is 4-hour oversold and confluence support. 1.618 target from AB-CD move stands at 1.4410. I do not know will market reach it or not, but I suspect that it could touch pivot at least.

On hourly chart
Market has reached 1.27 target of Butterfly Buy. 1.618 stands precisely near the pivot and very probable that market will reach it. Because down moves inside the butterfly are strong. I have no confidence that market should reverse at current levels.
So, as conclusion - wait 1.4420-1.4450 area to enter Long. If market will fall line a stone, move below pivot and hold there - stay flat.

P.S. New chapter has been released in Forex Military School, and dedicated to different order types:
https://www.forexpeacearmy.com/forex-forum/forex-military-school/index2.html

 

[ALF]

Hi Sive,

Did you post your daily video? Can not see yet.

 

[eric lew]

Hi Eric,
You're absolutely right, in fact this could be done. But there are some reasons, why I do not recommend such kind of trades. First, because this kind of trades are rather short term, and even if I will post any short term analysis - very few forumers will be able to execute it.
Second, pure techical approach. Look, daily trend is bullish, so you have no context to trade short, say on hourly time frame. But if you trade on 5-30 min charts, and use as context not daily but 4-hour or hourly chart as a context - that's fine, this kind of trades absolutely possible. I do not see any problem to do it.

Hi Sive, thanks for your advice. In future i will have more confident to enter such a trade and treat it like a scalp trade on a lower time frame.

subsequently yesterday i went in short at 1.4575 2 mini lots and gained 50pips for the first lot and 70pips for the second lot. this is a return of 2% on my account.

i aim for 3%-5% return a week. which is about 12%-20% a mth. (just a
target - most of the time it doesn't happen ha!)

My own experience is i try to get into a high probability trade early in the week, take the profit and then can be more cautious later in the week. like what Dinapoli adviced (you can see his interview on youtube), trade 3-4days a week. 5 full days you get burned out.

I have tried to go for 10% return a week, but more often then not, it back
fired and i end up negative 10% as i over trade and take too much risk.

maybe fellow forumers can share their experience also

 

[nicolebobbin]

Good morning,
Monday's trading session was thin due holiday in Europe, so, overall picture has not changed much.

On daily time frame trend is bullish. And I still think that our attention should be focus on 1.4450 area - Fib support, pivot point and previous 0.618 Fib extension target. Market should hold above it to prove us that it intends go up further.
Currently only single thing that points on this potential - CD leg is much faster than AB on recent AB-CD pattern. Usually when it happens, market chould reach 1.27 or even 1.618 Fib extension targets.

On 4 hour chart
we see additionally that here is 4-hour oversold and confluence support. 1.618 target from AB-CD move stands at 1.4410. I do not know will market reach it or not, but I suspect that it could touch pivot at least.

On hourly chart
Market has reached 1.27 target of Butterfly Buy. 1.618 stands precisely near the pivot and very probable that market will reach it. Because down moves inside the butterfly are strong. I have no confidence that market should reverse at current levels.
So, as conclusion - wait 1.4420-1.4450 area to enter Long. If market will fall line a stone, move below pivot and hold there - stay flat.

P.S. New chapter has been released in Forex Military School, and dedicated to different order types:
Forex Military School - Page 2 - Forex Peace Army Forum

Market price at this moment is 1.4570, according to your strategy, is it a good choice to go a short term short sell for a target 1.4450 ?

 

[Sive Morten]

Market price at this moment is 1.4570, according to your strategy, is it a good choice to go a short term short sell for a target 1.4450 ?

Well, I think that my answer a bit late...
But in general - no. Daily trend is bullish, so you have no context to enter short, at least you do not trade some directional patterns that overrule trend. Or -
if you trade at lower time frames, say 5-min and use hourly trend as context.