FOREX PRO Weekly April 11-15, 2011

[Mohankumar]

Hi sive....

very good analysis ....thank you very much.....u had used ABCD expansions in ur analysis....so please tell me on which time frame this method works efficiently....and also can i try in lower time frames(5 min,15min)...

 

[Jyotiprakash Pal]

Hi sive....

very good analysis ....thank you very much.....u had used ABCD expansions in ur analysis....so please tell me on which time frame this method works efficiently....and also can i try in lower time frames(5 min,15min)...

Hi Brother me too learning .. this harmonics and truely speaking . its awesome ..specially butterfly but low timeframe equal too big big noisy ... 1 hour 4 hour is good ...

 

[youngstr]

Go away. This is not the place to try and sell your products.

I agree, it was all good till that link went in there.....then it went from suggestion to sales-pitch (spam)

 

[youngstr]

On a seperate note, thank you sive for the analysis, and the especially the charts. I just finished Joe's book and am going for the second read thru, and happy to say the monthly and weekly charts I drew up look like yours! I would like to ask rather than print and draw by hand which is what I am doing are there tools in mt4 to make the notation marks like you do on your charts or is that an aftermarket charting package that you use?

 

[Sive Morten]

Hi sive....

very good analysis ....thank you very much.....u had used ABCD expansions in ur analysis....so please tell me on which time frame this method works efficiently....and also can i try in lower time frames(5 min,15min)...

Hi,
in fact harmonic patterns work at any time frames. But as Jyotiprakash Pal said, it could be noisy at lowest ones. Try to trade only those that are absolutely clear for you and the most simmetrical.

On a seperate note, thank you sive for the analysis, and the especially the charts. I just finished Joe's book and am going for the second read thru, and happy to say the monthly and weekly charts I drew up look like yours! I would like to ask rather than print and draw by hand which is what I am doing are there tools in mt4 to make the notation marks like you do on your charts or is that an aftermarket charting package that you use?

In MT4 there is only Fib retracement tool. I use CQG, it's expensive but it has full DiNapoli draw pack - retracements and expansions.
I know that Genesis Trade Navigator also has it and DiNapoli own pack - Fib Node. May be some other sofware... But all of them are not cheap.

 

[Sive Morten]

EUR/USD Daily Update, Tue 12, April 2011

Good morning,
As solid resistance stands just above the curernt price - market has turned to retracement. The main question now is how deep it will be...
So, as we talk about today's trading session, our particular interest links to couple of levels:
1.4340 - hourly Confluence support and agreement + weekly pivot
1.42 - previous highs, support line, daily confluence support + weekly pivot support1.
The logic is simple - if market will break below pivot at 1.4340, then the next target is 1.4180-1.42 area.
But, 1.4340 is a solid support and normal price action suggests, that market should bounce from it, at least after the first touch. Will it be final bouncing, and market will continue move up, or it will be just a pullback in greater downward AB-CD - I don't now.
But we can use this initial pullback to enter Long. Then - move stops to b/e. Depending on the strength of pullback - we loose nothing, or even make some pips. If market will continue move up - much better.
So - wait, when market will hit hourly 1.618 target at 1.4345 and touch pivot. When market will start move up, and houly MACD will give Buy signal - you may enter on nearest retracement with stops just below the lows wherever they will be around pivot.
When market continue move up - move your stop to b/e and watch the movie.

P.S. New chapters have been released (and funny pictures appeared) in Forex Military School:
https://www.forexpeacearmy.com/forex-forum/forex-military-school/
Everybody welcome !

 

[Jyotiprakash Pal]

Briliant analysis once again sir ! market straight jump from 161.8! now moving my stoploss too green and watching .. as u advised ! Hats off!

 

[Ymciptdqa]

12th April EURUSD analyses

Hi Sieve. Just watched toady's video for EURUSD. Great job and thank you very much! One question - what do you refer to in 5min24sec ? - you are showing what I believe is 1.4229 area but you say it is 1.44 as the next target ? Please explain. Thank you

Kris

 

[mjunkyard]

My Dear Mentor Sive:
I don't have the words to thank you for being such a great mentor and teacher.
I have an educational question. Since we are pretty confident that there will be a retracement (we've seen it the last while that it always goes back to the weekly pivot point). Why do we never trade the retracement?
Especially now that we're so close to the overbought, the macd on the 4 hr is bearish, and we're under the 3x3.
I really appreciate your invaluable education.

 

[Sive Morten]

My Dear Mentor Sive:
I don't have the words to thank you for being such a great mentor and teacher.
I have an educational question. Since we are pretty confident that there will be a retracement (we've seen it the last while that it always goes back to the weekly pivot point). Why do we never trade the retracement?
Especially now that we're so close to the overbought, the macd on the 4 hr is bearish, and we're under the 3x3.
I really appreciate your invaluable education.

Hi, Mjunkyard,
Generally because most forumers hardly will be able to trade it in time. Sometimes we discuss the possibility of trading retracement, but if it happens on hourly or 4-hour chart, and if it somewhere near the start point.
Unfortunately we can't trade any retracement blindly, just because pivot stands below current market - we need initial signs that it has started...
But today market was near 100% retracement target already...