FOREX PRO Weekly January 23-27, 2012

[fxmig]

Look forward to having you in our group!

 

[samfx]

Hi all,

It's a great idea...

I would like to be part of the group as well, I also trade the NY session.
I been following Sive analysis for the past year or so.
Fxmig, I will send you an email.

Thank you,

Sam

 

[solitairefx]

Thank sive, you always my The Best mentor.
Your analisys is work...


Best Regards,

Sol

 

[nicolebobbin]

Monthly
Trend is strongly bearish, market is not at oversold.
Daily context is bullish, but market now stands at solid resistance and we need to wait pullback completion to enter long. Medium-term target that logic suggests is 1.3220 level.
As 4-hour trend holds bearish, it points on possible deeper move down and our preferable level to watch as suitable to enter long on Monday is 1.2830-1.2850

Hi Sive, I waited for retrace to 1.2850 like you suggested but it didn't reach and then fly up higher, we missed this trade, so how to improve our opportunity in the future ?

 

[Venelin]

The euro is working 1H DRPO IMHO! I was hoping for 30m b&b buy but failed-so I am fishing for 1h drpo! It could be 1H B&B buy also... Cheers!

 

[fxmig]

This message is for everyone who has asked to join the group chat. I have created a private chat room where you all can go on and discuss important FX matters!! All you have to do is click on this link Zippy Chat: EUR/USD FX CHAT ROOM chat room , and you will enter the private chat room. Everyone is welcome so just drop by!

Thanks,
Mike

 

[dharma1]

Hi Sive, I waited for retrace to 1.2850 like you suggested but it didn't reach and then fly up higher, we missed this trade, so how to improve our opportunity in the future ?

Jeez nicolebobbin !! the low was 1.2853 !!! how close do you want !!! I think you will find Sive talks about areas of support and resis . Do you want him to come and sit with you and execute the trades for you also ?? Sive would have been suggesting to look at the reaction in that area and then look for patterns on lower time frames and use your own skills . good luck to all

 

[BeeKay8]

Jeez nicolebobbin !! the low was 1.2853 !!! how close do you want !!! I think you will find Sive talks about areas of support and resis . Do you want him to come and sit with you and execute the trades for you also ?? Sive would have been suggesting to look at the reaction in that area and then look for patterns on lower time frames and use your own skills . good luck to all

1.2853? What chart were you looking at? Lowest was when the market opened on Sunday at 1.287x.

 

[Sive Morten]

Hi Sive, I waited for retrace to 1.2850 like you suggested but it didn't reach and then fly up higher, we missed this trade, so how to improve our opportunity in the future ?

Hi Nicole,
To minimize trades skipping, it is very important to track crucial points of trading context. Let's pass through this situation together.
1. We've expected AB=CD retracement and reaching of K-support and pivot point. The point of "no return" for downward AB-CD pattern is C-top. If market will take it out before reaching D-point, then AB=CD treated as failed and opposite move is very probable. So, you could try to enter long when this has happened.
Probably you have missed this trade anyway, since move was really fast - but this is special case.

2. Second, pay attention to price action. In video we've said that 0.618 extension of AB=CD stands above swing low. Since we have 2 stop grabbers - they suggest taking out of the low. Hence, market should show retracement from 0.618 and then proceed by stop grabbers' signal lower. If market has not shown any retracement at 0.618 and moved lower taken out this low and only after that reversed to the upside - that is not quite common for price action, according to AB=CD. It looks more like W&R of previous lows.

3. Keep an eye on price action. On hourly chart you may see thrusting bar to the upside (by which market has closed the gap). This is absolutely not typical for action after hitting just 0.618 target of AB-CD. Besides, hourly trend has turned bullish by this action, so you could try to enter long at nearest 0.382 retracement right after this bar has been completed, since you have a lot of reasons for that.

Although this is some kind of rearview mirror, and I do not like to appy it, because real-time decision making is absolutely different tune. Some of this observations could work in different situations some could not. Still, since we are speaking about particular example, I've tried to find some clues that could help you to make a right decision.
In general, when you monitor your trading plan realization by market - pay close attention to irrational moments that contradict to normal price action according to your trading plan. If there will not happen any - then your trading plan will be accomplished at 100%.

 

[gammel]

How can i be in the chatroom as well .. Please let me know