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FOREX PRO Weekly August 01-05, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jul 30, 2011.

  1. mjunkyard

    mjunkyard Private, 1st Class

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    DRPO

    Hi Sive;
    what we currently have on the s&p daily, is it a drpo?
    what is the target for a drpo?
    i learned everything from you and it looks like your education is getting somewhere with me.
    sincerely
    mjunkyard
     
  2. Icarus

    Icarus Private, 1st Class

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    Sive, Is it possible we have a 3-drive buy on the 4H time frame, with a target of the highest point between the and 2nd and 3rd drives? (around 1.4370 on spot market.) Second, though I have asked before, I am still confused about the target of the DRPO pattern - could you elaborate on this with a drawing or on a video? Thank you.
     

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  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Icarus,
    Usually 3-Drive is a pattern that marks exhausting condition on the market. But current move is more a retracement, rather continuation, so to me this is hardly 3-Drive pattern.
    The minimum target of DRPO usually at least 1.0 Fib extension of the tops, or you can use as exit point - crossing of 3x3 in counter direction to DRPO signal.
     
  4. Icarus

    Icarus Private, 1st Class

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    Thank you, Sive.
     

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