Euro Forex Pro Weekly, 26-30 July, 2010

[Sive Morten]

Hello everybody,

thanks Sive, for your analysis.
I have just a question.
What are this COP and XOP points you are talking about?
Is it a kind of Indicator?
Thanks for Answers...

Have a nice day

Hi, TimeTrade,
just look in Glossary in my head topic.
There are many other terms also.

 

[dezza33]

pivots

hi Sive,
I was having problems with the pivots so I open 2 demo accounts and found that the values were totally different on each account for the last bar. On CNC markets they only goto weekly and I use 15/7/2010 to 21/7/2010. My values were O 1.2733, H 1.3028, L 1.2708, C 1.2759. They calculated out to P 1.2832, S1 1.2632, S2 1.2508, R1 1.2956, R2 1.3156. I also downloaded a pivot calculator and was even more confused as some of the values worked and some didn't.
At this point EUR/USD is trading at 1.2983, 9:29am Wednesday (EDT) - Time in New York, United States of America.
Would it be possible to add your High, Low and Close to next week's Analysis, so I can check your values, please ??.

 

[Sive Morten]

hi Sive,
I was having problems with the pivots so I open 2 demo accounts and found that the values were totally different on each account for the last bar. On CNC markets they only goto weekly and I use 15/7/2010 to 21/7/2010. My values were O 1.2733, H 1.3028, L 1.2708, C 1.2759. They calculated out to P 1.2832, S1 1.2632, S2 1.2508, R1 1.2956, R2 1.3156. I also downloaded a pivot calculator and was even more confused as some of the values worked and some didn't.
At this point EUR/USD is trading at 1.2983, 9:29am Wednesday (EDT) - Time in New York, United States of America.
Would it be possible to add your High, Low and Close to next week's Analysis, so I can check your values, please ??.

Hi, Dezza.
Sure, if I'll not forget this...
But let me make some notes. First of all, different brokers have a bit different prices, because Forex - is over the counter market.
At the same time, I use EUR/USD Futures prices from CME. This quotes a bit higher than real Forex quotes due to Futures price calculation. But this is not the point...
The point is that I use CQG. They are the best, and their indicators are perfect. I just want to advise to you - look to the formula that I've posted in Glossary for Pivots. They are absolutely coincides with CQG. You can calculate pivots manually.

 

[Sive Morten]

EUR/USD Update, Thu 29, July

Hi everybody,

Nothing particular interesting has happened yesterday. Market stays in the range. My thoughts is the same - 1.2950 area in interesting for establish long position with 1.3133 target.
I post a 4-hour chart - one moment here is interesting - 4-hour trend turns bearish, but price action does not confirm this and stay int the range. This is a bullish sign for me.
Today Initial Claims data will release, but I think that if market still intends to reach XOP, probably it will happen tomorrow during GDP release.

 

[dezza33]

Hi, Dezza.
Sure, if I'll not forget this...
But let me make some notes. First of all, different brokers have a bit different prices, because Forex - is over the counter market.
At the same time, I use EUR/USD Futures prices from CME. This quotes a bit higher than real Forex quotes due to Futures price calculation. But this is not the point...
The point is that I use CQG. They are the best, and their indicators are perfect. I just want to advise to you - look to the formula that I've posted in Glossary for Pivots. They are absolutely coincides with CQG. You can calculate pivots manually.

thanks Sive,
I hadn't realized there were different quotes. I think have it right, it is just the market doing what it wants to do and I am trying to force it to do what I want it to do, lol

 

[alkis]

About Pivot Points

Hi guys,

Are there more than one glossaries? In the one that has 116 articles I can't find the word Pivot. I want to see the formula that Sive is writing about. Anybody can help me.

Thanks in advance

Alkis

 

[Sive Morten]

Hi guys,

Are there more than one glossaries? In the one that has 116 articles I can't find the word Pivot. I want to see the formula that Sive is writing about. Anybody can help me.

Thanks in advance

Alkis

Hi, Alkis,
just look carefull through Glossary. It contains what you are looking for...

Here are formulas for Pivots from Glossary:
Pivot: leading indicator that equals (High+Low+Close)/3 of a previous bar. Usually calculates for weekly, monthly and upper time frames, rarely for daily.

Pivot support: Usually are calculated 2 supports – pivot support 1= (2*Pivot)-High of a previous bar; and pivot support 2 = Pivot - (Pivot resistance 1 – Pivot support 1)

Pivot resistance: Usually are calculated 2 resistances– pivot resistance 1= (2*Pivot)-Low of a previous bar; and pivot resistance 2 = (Pivot – Pivot support 1) +Pivot resistance 1

 

[TimeTrade]

Hi guys,

Are there more than one glossaries? In the one that has 116 articles I can't find the word Pivot. I want to see the formula that Sive is writing about. Anybody can help me.

Thanks in advance

Alkis

Hi alkis,
go to the thread of Sive Morten, then choose the first theme: "Sticky: Glossary". There you should scrol to the bottom of the post...
I hope that helps you.

Nice trading everyone

 

[TraderJoe99]

H/S on 5 min for retest at .2950 or Break Out to .31**

Notice what could form Head and Shoulders 5 min chart for reversal down before testing .31.

Yes, .2950 might have Bull/Bear contest too if tested.

I'll have to find "XOP" in the glossary.

 

[alkis]

Thanks for help

Thanks a lot Sive and Time Trade,

have a nice day full of pips!!!