FOREX PRO Weekly April 16-20, 2012

[cloak]

Hi Sive,
First off, thank you very much for the time you've given to teaching, your daily videos and education forum has been a great asset!
With regard to the MACD Predictor, would you ever enter at the MACD Predictor level in conjunction with say a weekly pivot point (or some form of agreement) or prefer to see a 'wash and rinse' of the level before considering entry?

 

[BeeKay8]

Frustrating week. Start of London and Europe we see bears this week but by the time US markets are open, one bar on hourly will be bulls and erase all your profits that you made during London and Europe sessions. This has happened for three days in a row. Market is just consolidating between WPP and WPR1. Reports from both US and Europe are horrible.

SO FRUSTRATING

 

[fan]

Hi Sive,

Today price action confirmed daily buttfly sell model. I have enter long at 1.308

 

[Urum]

Totally agree. And previous weeks were not better either. Hoping that a big move soon will make up for this struggle.

 

[4x4Ever]

Hi everyone I hope you all had a good week. Yes all this consolidation is annoying for us who aren't scalpers but try to be patient and see what happens. When the markets do get moving again its quite likely they will move very good for us whether it be up or down. He with the most patience will win in the end.

I just wanted to post my two cents about all the talk on differences in pricing. Please remember as Sive has always said a level is an "area" not so much an exact price. So for example when we talk about 1.3218 as a price to watch (or whatever value it may be) this is just a general area to watch. Not a set in stone price at which something must happen. Different brokers use different liquidity partners and thus their prices will always differ by a certain number of pips. The spread your broker charges you will also affect price levels in any calculations.
I find the best thing to do to get a handle on what "price" my broker will be at for these levels is to do your own calculations. For example, say Sive points out an AB=CD forming and that the 'D' point is a 1.618 expansion and should be at say, 1.3243. Look on your brokers chart and find the A, B & C points as priced with them. Do the calculation and you will find a more precise 'D' point as it pertains to your particular broker. This difference in pricing really is irrelevant. If your broker does not have fixed spreads I would suggest finding a better broker. This is just my personal choice but nothing burns my butt more then brokers I've seen who charge you 2 pips one minute and then suddenly charge you 30+ pips the next. I'd rather pay 4 pips fixed then use a broker who claims "as low as 1 pip spread" but when the markets volatile suddenly your paying 8-10. Because chances are when you want to be trading (volatile market, meaning prices are moving) your always being charged more. Just something to think about. Anyway I rambled enough now

I hope you all have a great weekend! May the pips be with you! (o:

~Markus