FOREX PRO Weekly 14-18 February, 2011

[hgmamaci]

Good morning,
today we will start directly from intraday charts.

On hourly chart trend is bullish, and will remain bullish till 1.35-1.3510 area roughly. Now there are two patterns is forming - Butterfly and AB-CD, with targets around 1.3590-1.3600. So, what do we have around this area:
1. 1.272 target of Butterfly "Sell"
2. Target of AB-CD
3.Weekly pivot point at 1.3588
4. Daily K-resistance 1.3580-1.3619.

So, if you're day trader - wait for reaching of this area, drop your time frame and look for "Sell" signals.

If your are intraday trader - take a look at 15-min chart.
You can anticipate of reaching 1.36 (this is the target of this trade), entering Long with s/l below 1.3495. You may enter partially at first K-support and Agreement at 1.3516 and again at next support 1.3500-1.3508. Risk/reward ratio is nice. One thing that you do not want to see - shifting hourly trend to bearish, and this could only happen, if market will break 1.3490-1.350 area, that's why, we place stop right there -below 1.3495.

Hi Sive
What would be the Sell signals we should be looking for? (Sorry I am a newbie and following your lessons since a month)
Thank you
Gokhan

 

[MidnightRun]

Good morning,
today we will start directly from intraday charts.

On hourly chart trend is bullish, and will remain bullish till 1.35-1.3510 area roughly. Now there are two patterns is forming - Butterfly and AB-CD, with targets around 1.3590-1.3600. So, what do we have around this area:
1. 1.272 target of Butterfly "Sell"
2. Target of AB-CD
3.Weekly pivot point at 1.3588
4. Daily K-resistance 1.3580-1.3619.

So, if you're day trader - wait for reaching of this area, drop your time frame and look for "Sell" signals.

If your are intraday trader - take a look at 15-min chart.
You can anticipate of reaching 1.36 (this is the target of this trade), entering Long with s/l below 1.3495. You may enter partially at first K-support and Agreement at 1.3516 and again at next support 1.3500-1.3508. Risk/reward ratio is nice. One thing that you do not want to see - shifting hourly trend to bearish, and this could only happen, if market will break 1.3490-1.350 area, that's why, we place stop right there -below 1.3495.

Well, I was again proven wrong, and Sive seems to be right - when price yesterday reached 1.3470 from 1.3540 I thought there was no way (judging by price action) that price would go up again...

 

[Sive Morten]

Hi Sive
What would be the Sell signals we should be looking for? (Sorry I am a newbie and following your lessons since a month)
Thank you
Gokhan

Hi Gokhan. Who knows, what it will be - we'll see if any will appear.
Usually every trader watch for his own signals, depending on what he uses. It could be H&S, Candle patterns, 3-Drive - anything.

Well, I was again proven wrong, and Sive seems to be right - when price yesterday reached 1.3470 from 1.3540 I thought there was no way (judging by price action) that price would go up again...

Hm, this is not the fact - price action is extremely choppy, so, may be you will be right. I do not have much confidence in current development, I just base my judgement on patterns that I see... But price action is not very impressive. Here is you're absolutely correct.

 

[freedom]

Do you think that 1.3586 is the top for the bounce now that it has been reached, or do you see some indication that it might go higher to maybe the 1.3620 or 1.3680 levels??

THanks for all that you do. God bless.

 

[Jyotiprakash Pal]

Its Not Just Choppy ! Its Hardcore killing!Bearish Engulfing then Bullish Engulfing then one More Bearish Engulfing! Traders .. who very much depandent on Candle stick Killed Thanks too ur analysis Sive sir.which give me enf confindence in this market too fight!

 

[Pip Slap]

Hi Mate Good too see you are trying too learning Appreciated .. but mate .. learning is a hard work .. so for learning u need too explore
There is a Sticky glossary
https://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/10877-glossary.html written by this mentor(Sive Morton) .. about such patterns and price action cheers mate .. and explore forexpeacearmy .. if u still have questions please post .. let me see how much i learn from sive sir i love too answer. ...

Sives glossary doesnt explain all the terms in question. I too would like clarification on what "DPRO" is, its defination, how its used, not just analysis based upon it. "DPRO" this and "DPRO" that is fine and dandy if I know what "DPRO" is. The same for the "B&B" and "LPO" all of which are not in the glossary that a couple of people have linked already.

 

[MidnightRun]

Sives glossary doesnt explain all the terms in question. I too would like clarification on what "DPRO" is, its defination, how its used, not just analysis based upon it. "DPRO" this and "DPRO" that is fine and dandy if I know what "DPRO" is. The same for the "B&B" and "LPO" all of which are not in the glossary that a couple of people have linked already.

At the end of each analysis for each week you see this: "The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies." It means that all the terms and concepts are explained in detail in DiNapoli's book. Get the book, study examples.

 

[4x4Ever]

And heres the ZUP (Harmonic Pattern Indicator)

 

[Lee Barker]

Head and shoulders on the daily time frame? or is there too much chop?

Lee

 

[Sive Morten]

Copyright protection law

I just came across a freeware version of the MACD Predictor & MACD(DEMA) for MT4. It has been written by a friend on another forum I frequent. Also I found the free version of the Harmonic Pattern Indicator, its called ZUP. I put all the necessary files into one zip file and will include it here for those of you who wish to try them out. Take care, God Bless and Happy Pip'n!

~Markus

*Update* 2nd attempt also failed? Will post individual files. The DEMA is necessary for MACDP to work. The rest are necessary for ZUP to work.

I uploaded the zip file to see if the problem is fixed. Not sure why coz the archive on my computer is valid but when I downloaded it here and try it is corrupt.

And heres the ZUP (Harmonic Pattern Indicator)

Hi Marcus,
Sorry pal, but I had have to delete your attachements of so-called DiNapoli indicators.
Guys, you may use what you've found in the net - this is not forbidden, but here we can't place any anopropriate indicators that are not authorized by DiNapoli -this is just protection of copyright law. The point is that there are no DiNapoli indicators for MT4, so this is forbidden to use names as "DiNapoli", "MACD Predictor" and others because these names are law protected.
IF you want to exchange the links and indicators - please use e-mails, do not post this kind of files here.
Concerning ZUP - it's OK