FOREX PRO Weekly April 11-15, 2011

[Jyotiprakash Pal]

Jyotiprakash Pal,
At what price did you enter the market and what was the basis (trigger)
In your chart, there is the pink pattern to the right and the white patterns to the left, what fib level (reaction numbers) do they represent?
There is also the words "search pattern" at the top left corner of the chart, is it a software you instal? if so how does it work? What do you mean by moving your stop loss to green?[/B]

wow! what eye's u have ! yeah .. thats a Mt4 Indicator search Buterfly 5-0 Bat Crabs etc etc etc ... and its dun make charts messy like ZUP and Etc etc...

about entry .. price making a bearish engulfing on resitance , agreement its a clr enf entry for me .. just like today i enter Buy 1.4423 when a Pinbar occuer on 30 mins ... Becoz .. ( Support , Price Hit daily 3x3 , Pinbar , Agrement and 150 EMA an hour .. risk .. 20 points .. 4 lots close 1 lot 20 point 2nd 40point ..3rd untill hit 100 1.4500 ...and 4th where sive sir say!simple massive win less loss!

About Pink fibo ! i frgt too delete that! actually thats nothing .. i am just checking which colour will suit my chart :|

Indicator Attached and the chart attached is Eur/GBP
Price below 3x3 of 4 hour .. but Rsi above 50 .. market is above 150/100 EMA status bullish .next target .9000. not enter becoz of 3x3 .. so will in if 4 hour candle close above 76.4 fibo .. and above 3x3 .. ! personally i dun understand Dinapoli! but i respect his 3x3 and old technique .. a line break next line target! eye for an eye ... nose for a nose

 

[Jyotiprakash Pal]

hello ayoayo! I have the same problem but seems you are ahead. I do not have an account at Dukascopy yet. if you find the answer to your question please do not keep it just for yourself.

all of the indicators are on mt4 ... and they r very close with real one!
i read the book ( Jeez that was tough one,i hardly understand! ) and find he suggest larger timeframe ... so i think .. we will get pin point entry if we use our market knowledge ... even with the close one indicator

 

[Sive Morten]

EUR/USD Daily Update, Thu 14, April 2011

Good morning,
Although market didn't take out the previous highs, I suppose that it could and should do this during current week.
On daily time frame trend is bullish, market does not pull back after hitting AB-CD target and just stands in the range. This is also a bullish sign. Besides, yesterday's trading session was inside day for previous one. It tells us, that sooner rather than later market should show some thrusting day. Probably it will happen today, probably to the upside.

On 4-hour chart, price action also does not support bear trend, and 3-drive sell pattern is forming with the target around the same area - 1.4530-1.4550

On hourly chart trend is bullish, some ABC targets stand around the same area.
Here could be couple of scenarios. First one is butterfly Sell - with 1.27 target around 1.4530. You can try to trade it, if market will show some retracement down in current swing up. Stop should be placed near C point at 1.4388 or even slightly below it. If market will take it out - then this butterfly will be cancelled.
But if that will happen - another Butterfly "Buy" could be triggered with the target below pivot. But this is quite other story. I still think, that market should hit 1.4550 area before it will show any signs of reversal or retracement.

 

[pragmatic]

CIS indicatores

all of the indicators are on mt4 ... and they r very close with real one!
i read the book ( Jeez that was tough one,i hardly understand! ) and find he suggest larger timeframe ... so i think .. we will get pin point entry if we use our market knowledge ... even with the close one indicator

Hello Jyotiprakas!
I suppose you are talking about the DiNapoli Predictor Pack indicators that are sold on CIS website. Can they be instaled on any MT4 station from any broker? Is that what you are saying? I am asking this because they say something about TradeStationPro and 2000i and I am not familiar with that, I do not know what they are.
Thank you!

 

[Jyotiprakash Pal]

Hello Jyotiprakas!
I suppose you are talking about the DiNapoli Predictor Pack indicators that are sold on CIS website. Can they be instaled on any MT4 station from any broker? Is that what you are saying? I am asking this because they say something about TradeStationPro and 2000i and I am not familiar with that, I do not know what they are.
Thank you!

hello ya ... every Indicator is avilable on Mt4 .. and they r very near too real one .. google it ..

Thanks for the great analysis sive sir howz ur health now ? get well soon sir

 

[ALF]

........."I still think, that market should hit 1.4550 area before it will show any signs of reversal or retracement."

Hi Sive,

We are down 130 pips, any change in your view?
Thanks.

 

[Icarus]

Hi Sive, Can you say something about a WW shape. Is the usual target of this shape the same as head and shoulders? And at what point does one know the reversal has been confirmed?

 

[Sive Morten]

EUR/USD Daily Update, Fri 15, April

Good morning,
I know that some of you, guys upset with previous price action and that break of 1.45 has not happened, our butterfly pattern's suggestion has been destroyed by doom and gloom on the market,
but in such kind of trading environment - there is no other way to trade. You take higher risk or do not trade at all. Because to not be triggered by ocasional price action you should place farther stops. But in this case your risk/reward ratio will be unacceptable. So, the choice is up to you - take more risk and try to trade some patterns in this sloppy and choppy action or sit on your hands...

Now about current situation:
I still think that market should take out previous highs - at least for grabbing stops purposes and could reach 1.4540-1.4550 area. Here is why:
- market has hit AB-CD target on daily time frame and didn't budge to the downside;
- all trends are bullish;
- market does not confirm bear trend on 4 hour chart;
- market still stands above weekly pivot and does not show any acceleration to the downside;
- price has touched 1.45 for some times already - this makes 1.45 level more obvious and weaker;
- public see resistance at 1.45 and enter short from there with placing stops just above it.
So, I do not know how you will act, but personally I will not even think about entering short till the price will clear out 1.45-1.4550 area. Or, that is also possible, if market will surrender and accelerates to the downside. But It's hardly possible before W&R of 1.45 level.
Now, if you still would like to trade - here is hourly chart. Another butterfly sell forming. You can try it - but do not forget what I've said in the beginning of this post- risk is greater than usual.

P.S.
FPA has released another part in Forex Military School. It contains some tasks - so, you can check yourself:
https://www.forexpeacearmy.com/forex-forum/forex-military-school/

 

[Sumeet Malik]

Sive,

Thanks to your analysis I wasn't afraid when the price moved lower than 1.4400 area yesterday (I was long from earlier). If it had moved more, I would have closed it like you said. Now I am back in green again and locked.
Respect

 

[Sive Morten]

Hi Sive, Can you say something about a WW shape. Is the usual target of this shape the same as head and shoulders? And at what point does one know the reversal has been confirmed?

Hi Icarus,
The classical approach to confirmation of W pattern is close (or some closes) above the high point between bottoms. Target could be estimated twofold:
1. You can use W as A-B-C: A- first bottom, B-high between them, C - second bottom. This will give you nearest target;
2. When market will accelerate higher - you may use the most recent swing up From second bottom, and some retracement after confirmation W pattern for appointment another ABC's. This will give you more extended targets.