FOREX PRO Weekly April 30-May 04, 2012

[grahamFPA]

Hi vgjune

The fib indicator can be found here: https://www.forexpeacearmy.com/forex-forum/sive-morten-analysis/19274-fibtree-indicator.html

I have yet to fing the Pivot indicator used by Sive. There are som many on FPA

Regards
Graham

 

[Sive Morten]

Sive are you able to share the MT4 pivot indicator that you use and the fibonnaci tool that is different than the one provided with the MT4 platform? Thanks

Well,
actually Pivot indicator that I use was programmed by our member Kamuta. If he will let me - I'll post it for download, or, you may contact him directly.
View Profile: kamuta - Forex Peace Army Forum

 

[Triantus Shango]

guys, we have a descending triangle on the weekly chart. continuing or reversal, who knows?

ok it seems there is a problem with the site as it doesn't let me upload the chart screenshot. so you can find it here instead: http://i.imgur.com/F3K9s.gif

 

[Chublet]

Hi Sive and traders

Could you please anyone advise me as I am confused about trend on different time frames.

They say that we should not trade against the bigger time frame, such as daily and weekly charts.
If such big time frames show the trend is bullish, we should buy. If the big time frames are bearish, we should look for "sell".

What should I do if all small time frames show "bullish" but the one big time frame, such as daily still shows "bearish".
Some people say that the trend starts from a smaller time frame. So, if we see a trend on a small time frame (ex 5 or 15 minutes chart), we should watch whether a bigger time frame (ex. 1 or 4 hour chart) to make sure that the bigger time frame will follow or not.

At time moment (British summer time 8:20am), on EUR/USD, MACD on all time frames show bullish except 4 hour chart. In this case, should I wait until 4 hour chart turns to be bullish????

English is not my native language but I hope you understand what I am trying to ask.

I would appreciate if someone gives me an advice.


Regards,

Chublet

 

[Sive Morten]

Hi Sive and traders

Could you please anyone advise me as I am confused about trend on different time frames.

They say that we should not trade against the bigger time frame, such as daily and weekly charts.
If such big time frames show the trend is bullish, we should buy. If the big time frames are bearish, we should look for "sell".

What should I do if all small time frames show "bullish" but the one big time frame, such as daily still shows "bearish".
Some people say that the trend starts from a smaller time frame. So, if we see a trend on a small time frame (ex 5 or 15 minutes chart), we should watch whether a bigger time frame (ex. 1 or 4 hour chart) to make sure that the bigger time frame will follow or not.

At time moment (British summer time 8:20am), on EUR/USD, MACD on all time frames show bullish except 4 hour chart. In this case, should I wait until 4 hour chart turns to be bullish????

English is not my native language but I hope you understand what I am trying to ask.

I would appreciate if someone gives me an advice.


Regards,

Chublet

Hi Chublet,
First - try to read our Forex Military school chapter, dedicated to trade compounding. I disagree with statement that trend is starting at lower time frame and higher should follow or not. Always higher time frame is stronger and more significant that lower one.
In general, combination of higher bullish trend and lower bearish one suggests just deeper retracement if higher time frame will hold and cover this retracement. If higher time frame breaks then it changes overall context to opposite.

 

[squidge42]

well the news put pay to a topside breakout...interesting that it bounced off the MPP (almost to the piplet) which incidently coinincided with the 200EMA on the hourly and the bottom of the consolidation zone.

I wonder if we can read anything into that?

 

[Chublet]

Hi Chublet,
First - try to read our Forex Military school chapter, dedicated to trade compounding. I disagree with statement that trend is starting at lower time frame and higher should follow or not. Always higher time frame is stronger and more significant that lower one.
In general, combination of higher bullish trend and lower bearish one suggests just deeper retracement if higher time frame will hold and cover this retracement. If higher time frame breaks then it changes overall context to opposite.

Hi Sive,

Thank you very much for your advice. I have read all pages of your Forex Military school chapter and also printed out some pages to study. I will read the chapter of mutiple time frame again as per your advice and I might ask you a question if I don't get my head around.

Thank you very much for your hard work and I really appreciate it.


Chublet

 

[Triantus Shango]

well, let's not forget there are trillions--not a typo--trillions of dollars of foreign asset sales by european financial institutions in the pipeline still to come, which will get converted into euros, that's a buy euro. so IMHO, e/u will at least remain supported if not go higher in the interim, notwithstanding euro sales by the SNB, which is just in the billions (trillions being larger by an order of magnitude than billions, it should overwhelm the SNB sell volume. and then if the eur/chf peg gets lifted to 1.25, e/u will spike up as well. but that's another story, if it ever happens.) until the big crash e/u. 3370/85 is next up for now.

read: http://www.forexlive.com/blog/2012/05/01/whats-behind-the-euros-resilience/

well the news put pay to a topside breakout...interesting that it bounced off the MPP (almost to the piplet) which incidently coinincided with the 200EMA on the hourly and the bottom of the consolidation zone.

I wonder if we can read anything into that?
View attachment 5361

 

[Triantus Shango]

USD/NDX long term trend

sive,

you mentioned your USD index analysis as pointing towards USD strenght with the euro reaching 1.17 long term. what do you make of this contrary analysis of the USD/NDX?

A clearer look at the long-term US dollar decline | ForexLive

 

[Triantus Shango]

i was gonna say 'this is the 'oops!' moment'. however, for long term traders, steady as she goes as these are good levels to enter long notwithstanding all the broken technical levels. on a longer TF this was but a correction. TP = 3370 remains the objective IMHO.

price has found SPPT at midBB (17 periods) on weekly. g/u will bounce off 38.2 = 6146/50 if no bounce from present level of 6170. u/chf is at 61.8 and will drop to 9110/13 (38.2%). i know what it looks like on e/u daily but bear in mind price is still inside the wedge and although it looks like we'll have a retest of 3000, this is not a logical market. instead, we'll have further USD weakness which will act as a catalyst for the bounce up, at least between now and the end of the week.

my credibility is on the line.