rashidin5178
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RRT on M30?
Hi Sive,
Do we have RRT on M30 right now?
Thanks and Best Regards
Hi Sive,
Do we have RRT on M30 right now?
Thanks and Best Regards
FOREX PRO Weekly December 26-30, 2011
- Thread starter Sive Morten
- Start date
Sive Morten
Special Consultant to the FPA
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- 18,648
Hi Rashidin,
It is more look like just 3d drive, not pure RRT. For RRT should not be any price action to the left for considerable period of time - here we do not have this condition.
The minimum target is high between 2 and 3 bottoms.
If you want to know more about 3-Drive and other harmonic patterns - visit our Forex Military School:
Forex Military School | Complete Forex Education by a Pro Banker - Forex Peace Army Forum
Sive Morten
Special Consultant to the FPA
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EUR/USD Daily Update, Fri 30, December 2011
Good morning,
current situation is very tricky, and market makers love such issues. From one point of view - market has hit 1.618 daily AB-CD, 1.27 butterfly and some intraday targets, has formed 3-Drive buy on hourly chart - all signs of reversal are here.
But from another side - major AB-CD target from weekly pattern has not been hit yet, it stands slightly lower than current market.
So, why Market makers like it?
Because when traders start enter long, by thinking that major targets have been hit, they support these retracement to trigger more and more traders to step in. Then, since market is not quite reached significant target at 1.2830, it reverses down and grab stops of those traders. This is not 100% will happen, but my experience tells that the probability of that is high.
On 4 hour time frame trend is bullish, we see that market has reached first resistance at 1.2950 and low of butterfly. For bears will be perfect if retracement will stop not higher than 1.30 K-resistance. Otherwise it will be too deep return inside of butterfly.
On hourly time frame there are a lot of important signs. First, take a look at nice 1.618 3-Drive buy and corresponding MACD divergence. Second, recent swing up is a bit greater than previous swing down - this tells about possible conitnuaion of retracement. But at the same time retracement down from this up swing should be deep - 1.2911 at minimum.
If this will be so, then market could create "222" Buy at hourly time frame and AB=CD pattern with target around K-area 1.30. This will be perfect level to search for sell signals. That is what we have to look for today.
Anyway be extra careful and think twice before take any long positions. Don't you think that after such move from 1.45 market will reverse only due hourly 3-drive and 4-hour butterfly pattern.... And what it will do with downward momentum?
Good morning,
current situation is very tricky, and market makers love such issues. From one point of view - market has hit 1.618 daily AB-CD, 1.27 butterfly and some intraday targets, has formed 3-Drive buy on hourly chart - all signs of reversal are here.
But from another side - major AB-CD target from weekly pattern has not been hit yet, it stands slightly lower than current market.
So, why Market makers like it?
Because when traders start enter long, by thinking that major targets have been hit, they support these retracement to trigger more and more traders to step in. Then, since market is not quite reached significant target at 1.2830, it reverses down and grab stops of those traders. This is not 100% will happen, but my experience tells that the probability of that is high.
On 4 hour time frame trend is bullish, we see that market has reached first resistance at 1.2950 and low of butterfly. For bears will be perfect if retracement will stop not higher than 1.30 K-resistance. Otherwise it will be too deep return inside of butterfly.
On hourly time frame there are a lot of important signs. First, take a look at nice 1.618 3-Drive buy and corresponding MACD divergence. Second, recent swing up is a bit greater than previous swing down - this tells about possible conitnuaion of retracement. But at the same time retracement down from this up swing should be deep - 1.2911 at minimum.
If this will be so, then market could create "222" Buy at hourly time frame and AB=CD pattern with target around K-area 1.30. This will be perfect level to search for sell signals. That is what we have to look for today.
Anyway be extra careful and think twice before take any long positions. Don't you think that after such move from 1.45 market will reverse only due hourly 3-drive and 4-hour butterfly pattern.... And what it will do with downward momentum?
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Hi Sive, i do not now if you are aware of this but lately when going to page 2 or 3 - i get what seems to be chinese symbols unfortunately i do not speak that language - also may i take this opportunity to thank you for all you give to us so generously and wish you a most sensational prosperous NEW YEAR regards Joh
rashidin5178
Sergeant
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Triantus Shango
Sergeant Major
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guys, am about to go offline... so happy new year to all of you and let's hope 2012 will be filled with positive pips. and of course, a big thank you to sifu sive (that's master in chinese--haven't you watched kungfu panda 
?) and felix homogratus, forex marketus rex maximus ipsissimus!!!
?) and felix homogratus, forex marketus rex maximus ipsissimus!!!
Sive Morten
Special Consultant to the FPA
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- 18,648
Formally we have it. But personally I look at such kind of SG with caution. I prefer to see SG after some thrust during retracement - as previous one on daily EUR/USD, that we've discussed.
But still this is SG, and it can work.
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