FOREX PRO Weekly November 28- December 02, 2011

[asif faryad]

Thanks Sive as always

Its a great Anyalis!! as always i am already watching the movie with 300 pips locked in as went short at 13750

Lets see how is works Risk free Movie Enjoy your weekend Sive.

Asif

 

[Jyotiprakash Pal]

I just can tell, that DRPO is reversal pattern and it should not reach any significant Fib levels during penetrations of 3x3. B&B is continuation pattern and it has to reach some significant level - usually 0.382 or 0.5, may be Confluence.

Yeah gotcha! thanks sir thats enf signal for me ...

 

[RTG]

Thank you Sive for the analysis, Always enjoy your forecast's.

Is there a way to expand the charts(Attachment's) you post by default, like it was before?

Thanks
RTG

 

[Paul McConnell]

I am a bottom/top feeder...
I have already a buy order in place.
should retracement not occur, breaking of pivot @ 1.3250 will go to a pivot (B) which will then retrace to (C) which will be above my buy point allowing me to alter my position to go short...

 

[Sive Morten]

Hey Sive! As always firstly thanks for the effort to provide us with your great analysis! I have a practical question for you-I have noticed that during last week price action, we had numerous B&B`s on smaller time frames(on wednesday,thursday, friday)! From your experience is it normal for market to make one B&B after another at reversal zones or it`s just continuation of the bigger trend and is typical to see such a price action,since B&B is continuation pattern? And what patterns from Dinapoli`s arsenal we should expect to see a bigger reversal, maybe RRT on daily or something else? And also regarding DRPO- you said it should not reach any significant Fib levels during penetrations of 3x3! Do you mean at penetration bar that validates the pattern(after the second close above 3x3),and(or)maximum 2 more bars or as a whole the pattern should end before reaching any significant Fib levels in the context of the time frame we are looking? I hope I made myself clear! Thank you!

B&B is continuation pattern. When market in a solid but not too steep trend (as now), this is very common to see multiple B&B's. You've said correctly that they mostly appear at some important levels on higher time frames.
When I've spoken about DRPO I mean first penetration only. Since DRPO could lead to reversal and not to just retracement.

There are many signlas by DiNapoli that could suggest reversal. DRPO on higher time frames is one of them. They also could be breakout through 25x5 MA, reaching on some monthly XOP (1.618). But usually they come not alone - for example, market could reach some XOP with long RRT at monthly time frame, or with second top of DRPO.
And of cause - trend shifting by MACD, stop grabbers as on quarterly Dollar index...

 

[Venelin]

B&B is continuation pattern. When market in a solid but not too steep trend (as now), this is very common to see multiple B&B's. You've said correctly that they mostly appear at some important levels on higher time frames.
When I've spoken about DRPO I mean first penetration only. Since DRPO could lead to reversal and not to just retracement.

There are many signlas by DiNapoli that could suggest reversal. DRPO on higher time frames is one of them. They also could be breakout through 25x5 MA, reaching on some monthly XOP (1.618). But usually they come not alone - for example, market could reach some XOP with long RRT at monthly time frame, or with second top of DRPO.
And of cause - trend shifting by MACD, stop grabbers as on quarterly Dollar index...

Thank you Sive! It is clear to me now! I know it is still early and we should not anticipate harmonic patterns but just want to point out that the level @ 1.2850 coincides with 1.27 ext. from 1.3148-1.4240 (also 1.2920 COP on montly)-so huge area of support! Probably the market may start forming a BC leg from butterfly buy on bigger frames?! Soon we will know if market does not go below 1.3148 to invalidate this pattern

 

[Jyotiprakash Pal]

Animal's are Human's best friend take this one ..in the morning thanks Sive sir ... 2 teach me for fresh forumers https://www.forexpeacearmy.com/fore...59-chapter-17-part-iii-gartleys-patterns.html

 

[Don Quixote]

Thanks Sive

 

[Sazu]

Many thanks! As always very much appreciated.

 

[Q-Rick]

Sive, would you agree we have a B&B SELL on the S&P (Daily) in this area (1195ish)?