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FOREX PRO Weekly April 08-12, 2013

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Apr 6, 2013.

  1. D.R.&Quinch

    D.R.&Quinch Sergeant

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  2. D.R.&Quinch

    D.R.&Quinch Sergeant

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    As I umderstand sive explanation, we are looking for volatility pullback to 50% or so, which we buy to 61.8 abcd ( ab leg yp being the big move up to 1.27 ext. Can we assume the large drop from last night is beginning of the retrace from 1.27 exten to price 1.26 or so. Would this mean that the drop today in eur usd is the start of the stretch component. If so then we will see save continuation down to 1.29 or so and said etracement in e/j

    Or have i totally mis understood the lesson of thes (vob and stretch) ? Any help mucho appreciated
     
  3. pragmatic

    pragmatic Corporal

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    A number of different patterns could work here, I mean on this pair, GBPJPY Daily chart:
    1. DRPO Sell Lal will be good to catch the retracement down. If I dont get this pattern, I wont enter short and wait further development.
    2. After the retracement we can get VOB like Sive explained on EURJPY. This will let us to enter long, in the direction of the thrust.
    3. We can also have B&B Buy Lal.
    Stretch was a few days ago on EURUSD but you missed that, because you no longer have Overbought condition.
     
  4. D.R.&Quinch

    D.R.&Quinch Sergeant

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    THANKS FOR 4EPLYING. HAVE A gr8 weekend!
     
  5. D.R.&Quinch

    D.R.&Quinch Sergeant

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    I thought the stretch meant down to 1.2950 but we have not been there since the 5th??
     
  6. pragmatic

    pragmatic Corporal

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    Sive explained Stretch a few times, better than DiNapoli himself ;), so I think is better to look for that explanation in the archive. I dont realize what you understand by Stretch but this pattern sure doesnt have a price target and it doesnt even say you will end up in profit. You simply have to exit when DOSC hits 0.00 level.
    As you can see on the chart, the pattern was complete on the 9th, when DOSC hit overbought. Even if DOSC is heading for 0.00 the price is moving higher.
    You still can go short by this pattern but you can find yourself with a loosing position and DOSC at 0.00 level. Then you should exit with the loss, because it will be a mistake to find another reason to keep your position open.
     

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  7. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Well, this could be the starting of retracement down and probably it is, but now it is difficult to link it with Stretch, since market starts move down when it was not at overbought. This is mostly due resistance.
     
  8. D.R.&Quinch

    D.R.&Quinch Sergeant

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    Thanks for taking the time man. Back to school for me. Again!
     
  9. D.R.&Quinch

    D.R.&Quinch Sergeant

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    Ty! Have gr8 weekend all.
     
  10. FreddyFX

    FreddyFX Sergeant

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    LOL, and I was expecting the analysis for the coming week ?!?
     

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