Euro Forex Pro weekly, August 30 - September 3, 2010

[Marcel Piche]

Hello, everybody.

Market didn't show any sign of thrust yesterday from weekly pivot point, so we had no reason to enter Long the market. Hope you've done well and didn't Buy.

Now we have not bad very short-term context - possibility of a Double Repo or B&B trade. Look at hourly chart - excellent thrust down, close above 3x3 SMA (the green line). The strong resistance just above the market is 1.2684 area. IF B&B trade should started, I think It will start from there.
If market will not reach this area - then, possibly we can see a context for DRPO trade. We have close above 3x3, now we need close below (if it will be new lows- much better) then close above as a confirmation bar. In this case -the target is the same area of confluence resistance. Just make sure that there are not many bars between first close above 3x3 and second one.
If we will not see close second above 3x3 - we should not enter on the Long side of the market.

Been looking at this thread for some time now. Today was actually the first time I to took a trade. This is all great information and I'm trying to learn from it, although sometimes I find it confusing. Can the 3x3 and DREPO be used on all time frames or is it best on the 1 hour?

What is a B&B and how does it work? Could not find it in the glossary.

Are all signals based on the close of a candle on the 1 hour time frame?

What's the best way to learn this system and where would I find the info?

After the DREPO was don today is the B&B still valid or is it the canceled out?

Am I asking to many questions?

 

[Sive Morten]

Been looking at this thread for some time now. Today was actually the first time I to took a trade. This is all great information and I'm trying to learn from it, although sometimes I find it confusing. Can the 3x3 and DREPO be used on all time frames or is it best on the 1 hour?

What is a B&B and how does it work? Could not find it in the glossary.

Are all signals based on the close of a candle on the 1 hour time frame?

What's the best way to learn this system and where would I find the info?

After the DREPO was don today is the B&B still valid or is it the canceled out?

Am I asking to many questions?

1 - seach on the side, this question has been asked million of times here
2- yes
3- Joe DiNapoli book
4-cancelled
5 yes.

 

[rasto007]

Real account

Hi Rasto,
we are in process of shifting to small real account, rather than demo.

You guys keep surprising me with good stuff. Great.

 

[rasto007]

Real account

Hi Rasto,
we are in process of shifting to small real account, rather than demo.

You guys keep surprising me with good stuff. Great.

 

[Sive Morten]

EUR/USD Daily Update, Wed Sept.1

Good morning, everybody,

Yesterday's Double Repo has worked perfectly, but currently there are 2 possible opposite butterflies on the market - on the 4-hour chart and hourly chart. I think that the major area of determination - weekly pivot point around 1.27. If market will move above it and reach 1.2750-1.2760 area, then, upside butterfly will prevail. IF market will fail there and intraday trend will shift to bearish again, market will return below weekly pivot - then 4-hour downside butterfly should work

 

[rasto007]

DRPO on 1H

Sive,

in your prior analysis you mentioned that for a B&B trade we would need the first 3x3x cross to thrust up to the significant fib node that you marked as 1.2684. On my chart I marked it as K2. What is remarkable and turned out to be an excellent forsight is that you disregarded a lower confluence point, that I marked as K1 (1.2664 - 1.2668). Why was this fibnode not important related to deciding between BNB and DRPO?


Rasto

 

[Sive Morten]

Sive,

in your prior analysis you mentioned that for a B&B trade we would need the first 3x3x cross to thrust up to the significant fib node that you marked as 1.2684. On my chart I marked it as K2. What is remarkable and turned out to be an excellent forsight is that you disregarded a lower confluence point, that I marked as K1 (1.2664 - 1.2668). Why was this fibnode not important related to deciding between BNB and DRPO?


Rasto

Hi Rasto,
because we need a Node from meaningful reaction point in thrust move. In fact, there were no solid reactions except major one.

I can show you the chart with excelent example of B&B - it's daily Crude oil. THis trade has finished yesterday

 

[rasto007]

DRPO on 1H

Sive, you were quicker that I managed to swap my attachments. The line that disappeared from the chart because of the compression is the one that marks the top of a reaction that I was using. It shows in the new attachment.

I agree it is smaller, but still it seems as a reaction. How do you go about deciding which one is significant?

Rasto

 

[Sive Morten]

Sive, you were quicker that I managed to swap my attachments. The line that disappeared from the chart because of the compression is the one that marks the top of a reaction that I was using. It shows in the new attachment.

I agree it is smaller, but still it seems as a reaction. How do you go about deciding which one is significant?

Rasto

Hm, there is no definite answer - partially it's experience, partially - look for move after 3x3 penetration - we need to see position closing by those who were in this thrust- some up moving for 2-3 bars after penetration. This is a market mechanics of this kind of trades.
During DRPO - vice versa, we do not want to see position closing. because trailing stops fuel reverse move of DRPO.

 

[Mandrake]

Hi guys,

Price has closed above weekly pp and gone back into the trendline. I have attached it for your viewing.

But beware monthly pp at around 1.286 and Sive's butterfly pattern at 1.2822. London opening soon. Lets see whether it can blast thru the resistances or whether it is gonna reverse.

There are important news later on, so do be on your guard as well.