FOREX PRO Weekly February 13-17, 2012

[maarnio]

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.

Hi guys, I have been following CM for about 1.5 years and I may say they are pretty good in their analysis!But to my experience EW is best if used in longer term perspective with 70% accuracy...In trading options is best imho! For shorter term trading-it is too many if`s and when`s with EW and I personally like Sive`s style -utilizing DiNapoli and harmonic trading! Most of us here are intraday trading and skalpers and not many position themselves in 3-4 months time span-that `s more typical for professional traders(many of them through options and using EW too)!But I may be very wrong of course

 

[4x4Ever]

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.

 

[adman]

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?

 

[Venelin]

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

 

[Sive Morten]

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?

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 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

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.

 

[Sylverayda]

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

 

[Joshnix]

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.

 

[Triantus Shango]

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

 

[Venelin]

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

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!

 

[Triantus Shango]

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. ;-)