FOREX PRO WEEKLY February 03-07, 2014

[ochills]

yes me too please. I was reading the school and I know 3x3 and W&R (3-drive?, wash and rinse = fake breakout?) but what is B&B pattern and DRPO?

B&B = bread and butter & is a trend continuation pattern
DRPO= Double repenetration & it is a trend reversal pattern,this is Dinapoli trading pattern including BB
W&R= wash and Rinse and 3 by 3 is DMA shifted by 3. Please read forex military book. is a complete book. I called it A-Z in Forex. I have it in PDF but unfortunately it is heavy such that I can upload it. I will try it again one day

 

[qbitz1]

As a reminder for myself, could any kind gentlemen let me know if we have a collection and explanation of the above abbreviated ( acronyms) terminologies, e.g. B&B , DRPO , 3x3 , W&R....and others.
Best Regards Haig

Haig,

I don't know where there's a reference, maybe in Sive's Forex training manual? A lot of them refer to terms used in Joe DiNapoli's trading book, "Trading with DiNapoli Levels" FYI:

B&B: Bread and butter. "8-10 periods of thrusting market action followed by single penetration of the 3x3. Refers to a high probability trade set up.

DRPO: Double repo or double repenetration signal. Same setup as B&B with close below, above and below 3x3. Another trade setup from Joe D.

3x3: "3 period simple moving average displaced forward three periods". If you don't understand this, you need to research (displaced) moving averages.

W&R: Wash and rinse refers to a candle spike where (probably) stops have been taken out below/above a significant level before setting off in the opposite direction.

"Others" I don't know this one but post if you have more. I hope this helps

Jon

 

[BeeKay8]

Hey Sive,

Since monthly USD/JPY can form DRPO "Sell", and also has confirmed bearish engulfing pattern, is it logical to bypass this LONG and wait until B&B "Buy" completion point @ 61.8% of the down thrust and SHORT it there with a stop above the bearish engulfing?

Or would it be illogical since IF market does show B&B and since it is a continuation pattern, there may be chances of sentiment changing and continuing up move?

Thanks a lot!

 

[Sive Morten]

Hey Sive,

Since monthly USD/JPY can form DRPO "Sell", and also has confirmed bearish engulfing pattern, is it logical to bypass this LONG and wait until B&B "Buy" completion point @ 61.8% of the down thrust and SHORT it there with a stop above the bearish engulfing?

Or would it be illogical since IF market does show B&B and since it is a continuation pattern, there may be chances of sentiment changing and continuing up move?

Thanks a lot!

Hi Brandon,
You're watching right in the root of problem. Theoretically this is our trading plan, but here is one tricky moment as we've discussed in weekly research - particularly existing of untouched 1.27 of weekly butterfly. If we wouldn't have it - I could say "yes" on your question, but since we have it - there is a risk of new high exist.
So, we will watch on this scenario, but it will be better to get some reliable setup for short entry around B&B minimum target. Otherwise, B&B could become just triggering pattern for upward action and could exceed it's minimum target.
So conclusion is as follows - we use scenario that you have described for short entry, but with assitance of some pattern that could give us confidence with short entry around B&B target.

 

[BeeKay8]

Thanks, a lot, Sive! Really appreciate it! Take care!!!

 

[ochills]

pls can anybody in the house help me with a good Fx brokers name. then

 

[Haig Gocherian]

Hi Ochills,
You wanted to know of 3 good and reliable online brokers.
I can recommend, with personal experience, oanda.com ; Lmax.com ; Compassfx.com
best regards,

 

[Sive Morten]

pls can anybody in the house help me with a good Fx brokers name. then

Hi Ochills,
also you can try to reach Triantus. I know that he has worked on this problem as well and may be have found somebody...

 

[Pakito99]

Hi! Thank you for the great work you are doing. I've opened a long position at 101.15.

 

[Lolly Tripathy]

Hi Sive sir, Thank you Very much..
only for your highly probable trading plan i am doing trade on other pair like usdjpy
i took 2 different trade (long side) and got 40+pips each
As Nfp today can you please help us to know somethng abt eurusd pleaseeeeeeeeee
like overbought/oversold band and a short note on my pair.
Thank you very much