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FOREX PRO Weekly February 13-17, 2012

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Feb 11, 2012.

  1. maarnio

    maarnio 9pmest.com Representative

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    Agree with you Venelin,

    EW is most useful in trending markets. Stocks, Commodities, Stock Indexes. I would use Sive's methods in sideways markets and EW in higher time frames to catch the big moves. It also interesting to combine them all.

     
  2. 4x4Ever

    4x4Ever Private, 1st Class

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    Looks like good context for B&B Sell??

    FYI, I think this looks like good context for B&B Sell on EUR/USD 1 hour chart. The markets peaking right around Sives K area which is also 61.8 resistance of this last move down on hourly. I think I'll test it.

    eur-usd-h1-bnb_2-16-2012.
     
  3. adman

    adman Private

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    Sive, market hit 13122, the .618 that you showed & discussed in your Feb 16, 2012 video. Nice call, you said that area was a possibility and would be nice if it reached it. Now that it has, are you still calling for the 12900 area as your target?
     
  4. Venelin

    Venelin Master Sergeant

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    Hi Sive, I have a question regarding AUD/USD potential DRPOsell on daily! From what level it`s appropriate to take fibo in order to estimate potential DRPO target ? Also do you thing we may have B&B in play if fibo taken from higher level (1.0260)? Thank you!
    View attachment 4857
     
    #74 Venelin, Feb 16, 2012
    Last edited: Feb 16, 2012
  5. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Adman. Since daily trend holds bearish, market has not broken through 0.618 resistance - I still think that it proceeds to 1.29. Check today's update on first page.

    Hi Venelin,
    I think I'm not quite understand your quest about Fib levels... There are 4 types of trading DRPO:
    1. Minimum target is 1.0 AB=CD from the tops of DRPO, if second top is lower than the first one;
    2. Hold position, until market will not close above 3x3;
    3. Hold position until market will not close above 0.618 resistance of downmove by DRPO.
    4. Find intraday AB=CD extension during downward move of DRPO and take profit at extension.
    That are most commonly used. May be you can apply something different. Say, on intraday chart you may wait till opposite reversal pattern. For instance, after some move due DRPO market will form Butterfly "buy" or reverse H&S or something else on intraday charts.
     
  6. Sylverayda

    Sylverayda Private

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    Thank you Sive. So its Butterfly after all 3191 touched exactly like you said.
     
  7. Joshnix

    Joshnix Corporal

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    Sive,
    As it passes 3196 this morning I am interested in your take now. Any input you can offer may be helpful to everyone. Thanks in advance.
     
  8. Triantus Shango

    Triantus Shango Sergeant Major

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    joshnix, if daily doesn't close above 3191=61.8% fib node, it's bearish and down til 2900 (hopefully) ;-)
     
  9. Venelin

    Venelin Master Sergeant

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    Hi Triantus, I agree but not so sure about reaching 1.2900! I`d be watching closely 1.3060-1.3085 if reached next week for more clues! Good luck to all!
     
  10. Triantus Shango

    Triantus Shango Sergeant Major

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    i agree. 2900 today might be a stretch. 3060 is where the 61.8 node is of the latest move up to 3197. come on, all we need is some bureaucrat running his mouth that there is some disagreement about some funding technicality re greece and down we go. ;-)
     

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