FOREX PRO Weekly February 20-24, 2012

TradeSpotting

Private
Messages
12
Hi Mary,
may be it will happen. But according to your scenario we need to completement of triangle first. Now this is just a hint that current price action could shift to triangle.

Hi Sive,
We did indeed get the triangle breakout I was looking for. It has given up to 100 pips so far. (see chart)

I took the triangle break on the E/J though.
EU4hr.jpg

I'm now waiting for triangle breakouts on the A/J and A/U!

Have a great day!

Cheers,
Mary
 

pragmatic

Corporal
Messages
109
Hello Sive!
Shall I dare to suggest a SG on Daily GBP? The target is impressive.
We have Weekly Confluence Resistance. Also, monthly pivot has not been touched this month 1.5596, so it might go down.
 

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DevTrader

Private, 1st Class
Messages
56
Hi Sive,
I follow your EUR/USD analysis and it has been good.So far EUD/USD is in tight range so there are less pip to make due to lack of trend clarifcation.
I have intiate trade on AUD/USD on short side as it has given clearly breakdown signal when it broke 1.0725 level.From the point of retracement my H4chart shows me on 1.0579.
As you are my mentor in forex just want to know your opinion on this.What you are seeing on chart?
 

Triantus Shango

Sergeant Major
Messages
1,372
devang, how about using dinapoli's framework and posting what you think you see after applying what you learned from the FPA school and dinapoli's book? then sive and others can chip in and point out what is correct and maybe what is not. that would be part of the learning experience. ;-)
 

Sive Morten

Special Consultant to the FPA
Messages
14,028
mary would you mind explaining what E/J, A/J, and A/U mean?

Hi Triantus, one thing that comes to my head is that they are EUR/JPY, AUD/JPY and AUD/USD... But this is just an assumption...

Hello Sive!
Shall I dare to suggest a SG on Daily GBP? The target is impressive.
We have Weekly Confluence Resistance. Also, monthly pivot has not been touched this month 1.5596, so it might go down.

Hi Pragmatic
Yes, it looks nice. It could work, at least now it shows nice risk/reward... Still I like more SG's in a row with the thrust, and not againt it - just due probability reasons. But this is also SG and it could work.
Hi Sive,
I follow your EUR/USD analysis and it has been good.So far EUD/USD is in tight range so there are less pip to make due to lack of trend clarifcation.
I have intiate trade on AUD/USD on short side as it has given clearly breakdown signal when it broke 1.0725 level.From the point of retracement my H4chart shows me on 1.0579.
As you are my mentor in forex just want to know your opinion on this.What you are seeing on chart?

Hi Devang,
Actually I'm not worth to call "mentor", since I'm not a professional trader now. I just share to discuss our view on market. The recent discussion was dedicated to possible DRPO "Sell" on daily chart. If market will close below 3x3 DMA today - it will be confirmed. But still this is LAL at best, because second top a bit small...
 

Damian1987

Corporal
Messages
149
Hi Sive!!!

I was wondering one thing regarding pivot points:

When we say market normally reaches pivot resistance 1 in form of a retracement before continuiing the move down (on weekly basis)...could we say the same thing about monthly pivot resistance 1 (on motnhly basis)??????? I reckon it works the same way with Pivot support 1 if the direction of the market is up, is this correct aswell? thank you for your time and teachings. best regards, Damián.
 

Sive Morten

Special Consultant to the FPA
Messages
14,028
Hi Sive!!!

I was wondering one thing regarding pivot points:

When we say market normally reaches pivot resistance 1 in form of a retracement before continuiing the move down (on weekly basis)...could we say the same thing about monthly pivot resistance 1 (on motnhly basis)??????? I reckon it works the same way with Pivot support 1 if the direction of the market is up, is this correct aswell? thank you for your time and teachings. best regards, Damián.

Yes, it could be applied to monthly charts in the same manner.
 

Synchronicity

Sergeant
Messages
177
Hi folks

Another 'dumb' question. Is the Stop Grabber mentioned in this analysis the same as the DiNaopli Wash & Rinse? The descriptions in the glossary are different but I haven't been able to find a detailed explanation of the SG.

Thanks for any replies

Michael
 

Synchronicity

Sergeant
Messages
177
I've been watching the GBPUSD daily chart and think that I see a good B&B trade followed by a just confirmed DRPO. I've marked the chart accordingly and would welcome comments from anybody...

gbpusd_drpo.jpg

All the best

Michael
 
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