FOREX PRO Weekly August 01-05, 2011

[mjunkyard]

DRPO

Hi Sive;
what we currently have on the s&p daily, is it a drpo?
what is the target for a drpo?
i learned everything from you and it looks like your education is getting somewhere with me.
sincerely
mjunkyard

 

[Icarus]

Sive, Is it possible we have a 3-drive buy on the 4H time frame, with a target of the highest point between the and 2nd and 3rd drives? (around 1.4370 on spot market.) Second, though I have asked before, I am still confused about the target of the DRPO pattern - could you elaborate on this with a drawing or on a video? Thank you.

 

[Sive Morten]

Sive, Is it possible we have a 3-drive buy on the 4H time frame, with a target of the highest point between the and 2nd and 3rd drives? (around 1.4370 on spot market.) Second, though I have asked before, I am still confused about the target of the DRPO pattern - could you elaborate on this with a drawing or on a video? Thank you.

Hi Icarus,
Usually 3-Drive is a pattern that marks exhausting condition on the market. But current move is more a retracement, rather continuation, so to me this is hardly 3-Drive pattern.
The minimum target of DRPO usually at least 1.0 Fib extension of the tops, or you can use as exit point - crossing of 3x3 in counter direction to DRPO signal.

 

[Icarus]

Hi Icarus,
Usually 3-Drive is a pattern that marks exhausting condition on the market. But current move is more a retracement, rather continuation, so to me this is hardly 3-Drive pattern.
The minimum target of DRPO usually at least 1.0 Fib extension of the tops, or you can use as exit point - crossing of 3x3 in counter direction to DRPO signal.

Thank you, Sive.