FOREX PRO Weekly January 30-February 03, 2012

[fzepeda]

hi. sive.?
can you tell me where can I find the indicator MACC and fibonacci pivot for the head and shoulder pattern for mt4?

 

[Triantus Shango]

Hi Trinantus
well, this is a bit question of experience, but some rules are exist still. First, initial reaction is always important. Second, starting reactions of thrusting moves are more significant than other reactions.
In general, try to understand swing, separate it on 3 parts - initial trhust, retracement and extension. Most significant will be initial reaction and first reaction after extension wave - other words, initial reaction of another AB=CD. It's a bit difficult to explain in writing.

i get it, thanks sive.

 

[Venelin]

Hey Sive, looking at hourly chart, can we call yesterday`s reversal from 1.3080 a RRT?
Thank you!

 

[Sive Morten]

Hey Sive, looking at hourly chart, can we call yesterday`s reversal from 1.3080 a RRT?
Thank you!

Hi Venelin,
Not quite, because RRT is "rejection of unnatural price" pattern. To be "unnatural" price should be unique for some extended period of time - at least 130-150 periods. Here we have price action at the same level not too far in the past.
But the shape is correct.

 

[Triantus Shango]

sive would this be the beginning of a potential DRPO on H1 if 2 or 3 bars later (8 or 9 am EST) we close above 3x3, then down again?

and is the 6 am EST bar a B&B?

 

[m0z1]

Well according to the charts the signal for DRPO on EURUSD 1 Hr just happ when the recent candle closed below the 3x3..

 

[Triantus Shango]

Well according to the charts the signal for DRPO on EURUSD 1 Hr just happ when the recent candle closed below the 3x3..

on my chart, none of the last 2 candles closed below 3x3. the current candle opened below, but is now above. there was only 1 close below 3x3 so far at 2 am EST.

 

[m0z1]

the 6am gmt candle closed below 3x3 and the 12pm gmt candle closed below 3x3. the 9am gmt made a new high also. so it did finish all the main parameters...

 

[Triantus Shango]

your 12 GMT is my 7 am EST candle which will close at 8 EST (still open) . are you sure? or are our charts slightly different?

 

[tony mau]

Hey everybody.
What happent to the chat rum?
And sive, Thanks again 4 your time. Great analyses.
Maybe one day you can give us your analyses on cable. Its going sky high. cable been goin long for over 2 weeks now!
Kind regards Mau