Hello Mr. Morten!
I have a question about this "follow the trend" trading style. Does all trends have to be the same, Daily, H4, H1? I mean, last week you said that we had to wait H1 trend to turn Bearish but H4 was Bullish.
Thank you!
P.S. GFT offers DiNapoli indicators on a practice account for 80$ a month. I think Damian gave this info some time ago.
DiNapoli D-Levels - Fibonacci Ratios - Forex Analysis - Forex Analysis Tools - GFT
X IS THE BIGINING OF A DOWN SWING THAT GOT A FIB RETRACEMENT OF 61.8 FROM A TO B,WHEN I USE THE EXPANSION TOOL ON X,A,B, I GOT MY 618% EXPANSION AT C,THEN IT RETRACE AGAIN TO D,I USE THE a-b-c METHOD YOU TEACH US ON FPA COURSE,JUST LIKE FROM X,A,B i.e i have a down move from B to C then it retrace to D which is78.6 fib retracement level and there we have an inverted hammer(price action sell signal) and also last week bearish bar give us the confirmation on down move
now this where i need your help, am on sell already from daily on friday.my SL and TP are the red lines, at the blue line i have fib 127 from point X and expasion 127% from(B-C_D)
1,should i shift my SL above the inverted hammer at D so my SL could be above the retracement level since i can stil obey risk:reward at blue line
2, can the blue line be classified as AGREEMENT or CONFLUECE,
3, can it get to the blue line in the chart.
plese i need to know my stand from your own point of view,please i know you do eur/usd do this for a fan
thanks in advanceView attachment 5013
please what is the value of the variables of the MACD use are using
Hi Sive,
thank you for your analysis. May you tell us where to find the Exponential MACD indicator and the pivot point indicator for the MT4?
Thank you!
forexBOOM
Hi Georgeta,
in fact 4 hour time frame is not from DiNapoli list of TF. He uses daily and then hourly. That's why this is possible correct combination. But from time to time I like to take a look at 4-hour trend as well, just to see how it responds on starting move on hourly chart. 4 hour TF is too slow to combine it with daily. It's better to use it as confirmation. Since it is faster than daily and you've entered on hourly TF - after some time take a look at 4 hour trend.
I will be checking with the FPA Admins that there is no problem distributing the indicator and if they give the all clear then I'll post it here for others to use.
All the best
Michael
michael
you could upload it here: 4shared folder - MQ4
sorry guys, this may be a bit too much to ask here, but if possible, can include MQ5 as well if possible? I hope i'm not the only one using MT5 in here
Thanks for this great analysis, but i still have question base on one week time f. please when is the proper price for bearish outlook there. Currently am having DMA 7x5, is it when this line have broken? or is there any price level to watch for its baerishness?
Thanks.
Hi Sive,
As far as I concerned, H4 mostly correlated with weekly timeframe, H1 to daily, daily to monthly. On lower timeframe, M5 usually a combination with H1 and M15 with H4. As we all know, the best time to trade is when all timeframes shows the same trend. But if we got contradiction between monthly, weekly and daily like we have right now on E/U chart, IMHO the best way to trade is when the combination of TF as I mentioned above shows the same trend (and may I say this is "trend following's techique" is all about?). And may I say here that no matter what the movement should be, whether retracement or continuation of major trend, the price should go to its trend of their respective TF combination untill we achieve its target or we got a reliable patterns that may change the direction of price as well as the current trend.
Please correct me if I'm wrong, Sir.....as always....
Thanks and Best Regards.
Rashidin
Hi Sive, Thanks again for your analysis.
Could you check in your next week analysis a potential medium term LONG from 1.2900-1.2950 with 2 target 1.33 & 1.44?
See attached chart where I see forming two potential patterns.
1. H&S (red) with target 1.25 /calculated: 1.30-(1.35-1.30) /, where we should have a 2nd top in the right shoulder to have a harmonic pattern
2. and I think we have also a good chance for cup reversal (yellow) with target 1.4400 /calculated: 1.35+(1.35-1.26) /.
In any case, I see high probability for an additional daily upswing.
Thnx
View attachment 5019
If we assume that we have no directional patterns then probably you're right.