FOREX PRO Weekly April 16-20, 2012

[Triantus Shango]

so have i and biting my nails now
not looking very bullish, what with the failed DRPO on M30. maybe MACD divergence on H1 will eventually unfold. one can hope.

Seems possible and i'm also pretty bias on this upmove. Previous retracement from 1.30-1.33 has also shown the support in place of this trend line. In fact i have entered a small LONG position at 1.30 to trace this upmove

 

[cheater]

so have i and biting my nails now
not looking very bullish, what with the failed DRPO on M30. maybe MACD divergence on H1 will eventually unfold. one can hope.

AUD consolidation looks to hold 1.0315 well too

 

[squidge42]

so have i and biting my nails now
not looking very bullish, what with the failed DRPO on M30. maybe MACD divergence on H1 will eventually unfold. one can hope.

Confirmed DRPO on 1 hour now though

 

[Damian1987]

Hi Sive, good morning!

Im kinda confused sometimes with news. For example just now. I was long eur/usd before the nes of CORE cpi and stuff coz i was trading i DRPO lal buy. News where better than expected for USD however EUR start rallying, even though its been good for my trade...sometimes i just dont know what part im missing about price reaction to news...do u have any idea?? thank you

 

[Sive Morten]

Dear Sive,

I think EU will not break 1.30 in coming week and will going upward to 1.32, because I see a triangle action on 1h chart
View attachment 5253

Hi Fan,
May be you're right. You opinion is justified and in general in a row with possibility of move to 1.37-1.38 on weekly chart. I just expect a bit deeper retracement, but market can stop at 0.618 that has been reached already.

Since all trends hold bearish, market is not at support and overbought, probably will be better to apply gradual enter. For example - 1/3 at 1.31 and 2/3 at K-area. Stop could be placed, probably, above WPR1 at 1.3108.


Thanks as always...just to confirn did you mean WPR1 at 1.3182 not 1.3018

Sure. Thanks.

Seems possible and i'm also pretty bias on this upmove. Previous retracement from 1.30-1.33 has also shown the support in place of this trend line. In fact i have entered a small LONG position at 1.30 to trace this upmove

I also have entered long yesterday, but mostly due DRPO "Buy" on hourly chart. It was really perfect. But I've exited early.

Hi Sive, good morning!

Im kinda confused sometimes with news. For example just now. I was long eur/usd before the nes of CORE cpi and stuff coz i was trading i DRPO lal buy. News where better than expected for USD however EUR start rallying, even though its been good for my trade...sometimes i just dont know what part im missing about price reaction to news...do u have any idea?? thank you

So do I.
That's why once I've decided that I will not trade news releases. This way of trading is not suitable for me. The reason of this move up could be different. One of them is a "expected" value. This is very blur thing. It could be better than expected right in this month, but worse than expected in the chain of CPI values to justify current EUR/USD rate. Probably somebody has started to close positions after data was released. Some technical issue suddenly was added - triggering stops below 1.30 and that leads to jump up. You will hardly know definitely the true reason of opposite move when data released.

 

[Urum]

Hey Sive, where can we get the trend indicator that you used today to show us the stop grabber? I think you were using this same indicator a lot a few months ago during the strong bear trend.

 

[pragmatic]

Wow!
The "Red Line indicator" is awesome...
The question is: can you trust Alpari for the right OHLC (I mean in general, not just today). I tried many different brokers and some Red Line indicators but always got different results.
I hope somehow I will be able to get this indicator that Commander Sive is using.

 

[Venelin]

Today comment will be short.

There is a Stop Grabber at daily Time frame and hourly trend has turned bearish. Will it work or not - we'll see, but definitely this is not the time to enter long, since risk is solid.

You may try to short this market by this pattern. Stop should be placed above yesterday's high (SG high), but probably is better to place it above WPR1, somewhere around 1.3185
Minimum target is swing low at 1.2990 area, but this target does not contradict with possible downward continuation to 1.29 level.

To trade it or not - this choice is up to you. I just want to share with pattern that exists on daily TF.

Hi Sive,
Thank you for the analysis-really good explanation of SG on daily!The problem is with "MACD forecaster"... Would you mind sharing what settings do you use? The one I am using clearly has a different settings! Please see chart attached:
PS Sorry-can not upload attachment again!

 

[Sive Morten]

Wow!
The "Red Line indicator" is awesome...
The question is: can you trust Alpari for the right OHLC (I mean in general, not just today). I tried many different brokers and some Red Line indicators but always got different results.
I hope somehow I will be able to get this indicator that Commander Sive is using.

Well, we have to accept things that we can't change. I can't be sure with OHLC of Alpari as any other brokers. But now this is just what we have...

Hi Sive,
Thank you for the analysis-really good explanation of SG on daily!The problem is with "MACD forecaster"... Would you mind sharing what settings do you use? The one I am using clearly has a different settings! Please see chart attached:
PS Sorry-can not upload attachment again!

Parameters are the same:
8.3897
17.5185
9.0503

 

[iansqo]

Hello Sive,

Which MA are you using, or which indicator is the red line on your chart?