FOREX PRO Weekly February 06-10, 2012

georgeta

Sergeant
Messages
157
xau

Hello Mr. Morten!
So, what do you think? Closing of US session is a good time to short? Not very attractive R/R ratio...

PS What a golden butterfly...
 

Attachments

Venelin

Master Sergeant
Messages
394
Hello Mr. Morten!
So, what do you think? Closing of US session is a good time to short? Not very attractive R/R ratio...

PS What a golden butterfly...
Hi Georgeta!
If you play DRPO sell, I don`t have 2nd close above 3x3 DMA(yesterday`s candle closed lower on my chart by $1)! Just a warning...
 

arobi

Recruit
Messages
5
Hello everyone,

First of all thank you Sive for your effort taken everyday, it is really appreciated.
Based on your analysis I've found a nice 3drive sell pattern with last 3 turns including morning and evening star candle patterns. The 1.27 extension coincides with the 4 hour butterfly pattern. I'll try and trade it and will see.

Happy pippin' :)

eurusd_15m_3drive.png

Now it doesn't look so harmonic, but we'll see...
 
Last edited:

Sive Morten

Special Consultant to the FPA
Messages
12,970
Hello everyone,

First of all thank you Sive for your effort taken everyday, it is really appreciated.
Based on your analysis I've found a nice 3drive sell pattern with last 3 turns including morning and evening star candle patterns. The 1.27 extension coincides with the 4 hour butterfly pattern. I'll try and trade it and will see.

Happy pippin' :)

View attachment 4798

Now it doesn't look so harmonic, but we'll see...
Hi Arobi,
If you let me to make just single notice - the point is that drives should be at extension from retracement but not just AB=CD extensions. Just like we identify butterfly extensions.
 

ochills

Master Sergeant
Messages
278
Good day Sive,
Pls Do explain to me what u mean by stop grabber on chart 4 possibility for bullish context and how can one combine it in ones trading.
Thank as Usual.
 

4x4Ever

Private, 1st Class
Messages
56
Hi Sive,

I was just curious. You mentioned that our weekly B&B Sell was still valid. At what level/price will this pattern be considered invalid/failed??
Thanks again for all you do. Happy Friday and have yourself a great weekend.

~Markus
 

Sive Morten

Special Consultant to the FPA
Messages
12,970
Hi Sive,

I was just curious. You mentioned that our weekly B&B Sell was still valid. At what level/price will this pattern be considered invalid/failed??
Thanks again for all you do. Happy Friday and have yourself a great weekend.

~Markus
Conditions for B&B are as follows:
1. Thrust no less than 8 bars - got it;
2. Crossing 3x3 DMA and reaching some valuable resistance - got it;
3. reaching resistance during 1-3 closes above 3x3. Now is third week in progress.

But this is strict theoretical conditions. Since we do not have clear pattern on daily - we feel lack of confidence that B&B is ready to start. Probably it will start soon, but due to the lack of patterns and Greece situation it could start somehow blur like in fog.

It will fail if market will hold above 3x3 too long and proceed higher too far, but later it still can come.
These conditions are just prefferable and shows perfect B&B. But the nature so called B&B is based on markets properties, their momentum and unstability of V-bottoms. THat's why it is always difficult to deal with B&B's
 

ochills

Master Sergeant
Messages
278
Hi Sive,
Thanks as usual for your time,effort and kindness.
I notice each time U analyses the market u Never mention Psychological levels.is that it is not significant or WHY do u incorporate it in your trading or mention it.
pls Sive what do u mean by stop grabber or are they market makers pls right my wrong if am astray .
thanks for ur devotion to this FORUM.
 

Sive Morten

Special Consultant to the FPA
Messages
12,970
Stop grabber explanation

Hi Sive,
Thanks as usual for your time,effort and kindness.
I notice each time U analyses the market u Never mention Psychological levels.is that it is not significant or WHY do u incorporate it in your trading or mention it.
pls Sive what do u mean by stop grabber or are they market makers pls right my wrong if am astray .
thanks for ur devotion to this FORUM.
Oh, right Ochills. Sorry for delay about stop grabber (SG).
Speaking about pshichological levels - what do you mean? Round numbers, such 1.35 or something like that? I think that now it's not so significant. 1.0 level could somebody turn to thrill, but any other... I do not know. May be.
In fact we do use them, but usually as pivots and high/lows of some previous consolidations.

Ok, now is SG.
The idea of Stop grabber is as follows. In fact SG is a false trend shifting inside of some period that market does not confirm by close price. For example, if during the day daily MACD turns to bearish side, but at the end of the day it shows bullish trend by close price.
In this case those traders who have taken this "intraday" trend shift and enter short - now been trapped on a wrong way. That is a context for SG. Since trend has not changed by close price, then expected trading and price move should continue upward. This usually happens and market grab stops of those, who have entered wrongly on short side. It's a bit difficult to do using simple MACD, I even might say that this is impossible on short time frames. But it is possible on daily, and even on hourly chart.
 
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