FOREX PRO Weekly February 06-10, 2012

MidnightRun

Sergeant
Messages
186
Hello everyone,
Does anyone know how to properly use the KorHarmonics indicator (i.e. best timeframes etc.) - I tried to find a description on the net, but what I have been able to pull down is clearly insufficient. Can anyone help?
Thanks in advance.
 

DJG

Corporal
Messages
85
Korhamonics works the same as Zup indicator the only difference is that korhamonics detects more patterns , you can check their forums at tradingarsenal as they are the guys that invented it

DJG
 

BeeKay8

Sergeant
Messages
208
Sive, just a question for you.

Please correct me if I am wrong but 4H butterfly COULD reach 161.8 of 1.3232 and 1.3028?

You said target is 1.329x but 161.8 is at 1.3350 on my chart? Wouldn't it be safer to start shorting at 1.3350 rather than 1.329x?


Thanks Sive!
 

Sive Morten

Special Consultant to the FPA
Messages
13,165
Sive, just a question for you.

Please correct me if I am wrong but 4H butterfly COULD reach 161.8 of 1.3232 and 1.3028?

You said target is 1.329x but 161.8 is at 1.3350 on my chart? Wouldn't it be safer to start shorting at 1.3350 rather than 1.329x?


Thanks Sive!
Hi Beekay,
the point is that we look at this batterfly as a part of daily DRPO with hope that DRPO will work. From that standpoint butterfly should lead to reverse at 1.3294. If market will proceed to 1.618 extension of butterfly, then DRPO will be probably cancelled.

But if you trade purely Butterfly, then you should keep an eye on both levels as 1.27 as 1.618. Shorting from 1.3350 gives you better risk/reward ratio.
 

Sive Morten

Special Consultant to the FPA
Messages
13,165
Sive, just a question for you.

Please correct me if I am wrong but 4H butterfly COULD reach 161.8 of 1.3232 and 1.3028?

You said target is 1.329x but 161.8 is at 1.3350 on my chart? Wouldn't it be safer to start shorting at 1.3350 rather than 1.329x?


Thanks Sive!
Hi Beekay,
the point is that we look at this batterfly as a part of daily DRPO with hope that DRPO will work. From that standpoint butterfly should lead to reverse at 1.3294. If market will proceed to 1.618 extension of butterfly, then DRPO will be probably cancelled.

But if you trade purely Butterfly, then you should keep an eye on both levels as 1.27 as 1.618. Shorting from 1.3350 gives you better risk/reward ratio.
 

Sive Morten

Special Consultant to the FPA
Messages
13,165
Sive, just a question for you.

Please correct me if I am wrong but 4H butterfly COULD reach 161.8 of 1.3232 and 1.3028?

You said target is 1.329x but 161.8 is at 1.3350 on my chart? Wouldn't it be safer to start shorting at 1.3350 rather than 1.329x?


Thanks Sive!
Hi Beekay,
the point is that we look at this batterfly as a part of daily DRPO with hope that DRPO will work. From that standpoint butterfly should lead to reverse at 1.3294. If market will proceed to 1.618 extension of butterfly, then DRPO will be probably cancelled.

But if you trade purely Butterfly, then you should keep an eye on both levels as 1.27 as 1.618. Shorting from 1.3350 gives you better risk/reward ratio.
 

pragmatic

Corporal
Messages
109
Hello Sive!
Thank you for the analysis!
One question please: Why didn't you talk about pivots these days? I remember that a few weeks ago the market closed above PR1 and you said this is sigh of further up move. So it was. Why not yesterday?
Thank you!
 

Sive Morten

Special Consultant to the FPA
Messages
13,165
Hello Sive!
Thank you for the analysis!
One question please: Why didn't you talk about pivots these days? I remember that a few weeks ago the market closed above PR1 and you said this is sigh of further up move. So it was. Why not yesterday?
Thank you!
Hi Pragmatic,
mostly because currently I expect DiNapoli Directional pattern and pivot point resistance is not so important from that perspective.
 
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