FOREX PRO Weekly March 12 - 16, 2012

[Sive Morten]

Thanks Sive!
Another question: how we can handle this situation? Bf. is a reversal pattern, and now new low is progress.
I'm in short position, and my tp. is 1,2960. Could it still working? (I hope)

Yes. Butterfly is reversal, but it is not neccesary that market will reverse miserably and totally. If even market will show retracement to 0.382 retracement, butterfly is treated as worked properly.
So, today we have seen that retracement was almost 100%. So, nice result. But this is not a surprise that market has continued move down after that...

 

[Synchronicity]

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

Hi All

I have now posted the indicator at https://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/19274-fibtree-indicator.html

Enjoy

Michael

 

[Triantus Shango]

come FPA, why can't we upload indicators into the public MQL4 folder i created on 4shared.com? it's anonymous and anyone can upload anything they want there and download at will as well.

It was not approved yet for distribution by FPA admins. We wait for decision.

 

[Triantus Shango]

thanks michael... (didn't see your post)

is it OK if i upload the files on 4shared.com as well?

 

[Sive Morten]

thanks michael... (didn't see your post)

is it OK if i upload the files on 4shared.com as well?

Hi Triantus, I guess not, since FPA needs attendance, it lives by it. If we will start to post all our content on other web resources - then FPA will come to an end very soon

 

[Triantus Shango]

good point... i didn't think about that.

 

[Triantus Shango]

sive, i have a 3rd K-area around 3111/14.

38.2 [32906-29998] and 61.8 [31854-29998]

when we have multiple K-areas, how do we decide which one to pay more attention to? or are they all of equal significance?

 

[Sive Morten]

sive, i have a 3rd K-area around 3111/14.

38.2 [32906-29998] and 61.8 [31854-29998]

when we have multiple K-areas, how do we decide which one to pay more attention to? or are they all of equal significance?

All of them important. In this case there are two major points. First is - price movement. If you see solid thrusting move (as it is now), then nearest K-area has chances to be broken. In general take a look how market is approaching to K-area.
Second, is - some farer K-areas probably also could be seen on higher time frames, and in fact they are K-areas of higher TF. Hence, they might be stronger. Very often market also creates an Agreements with them.
And finally, take care about possible patterns - as on lower TF around K-areas, as on higher TF that could justify movement and reaching of particular K-area. For instance, in today's update we've said that market could reach 1.3119 - if it will start to form 3-Drive. That is what about higher TF.
At the same time, when and if it will reach it - you can find some reversal pattern on lower time frame around it. Say, DRPO or Butterfly. When you join all this together and put under prevailing context (in our case it is bearish and daily) - you will get an answer - enter or not.

 

[farouk farouk]

Been ff your postings and find it very interesting.
Just one question.
What is this K-area that your refer to?
I understand fib retracements.
Tks in advance.

 

[Sive Morten]

Been ff your postings and find it very interesting.
Just one question.
What is this K-area that your refer to?
I understand fib retracements.
Tks in advance.

Hi,
this is when two different Fib levels, particularly 0.382 and 0.618 coincide in tight area. Take a look in our glossary and FPA military school for more information.