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FOREX PRO Weekly February 20-24, 2012

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Feb 18, 2012.

  1. Triantus Shango

    Triantus Shango Sergeant Major

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    hi michael, looks like a great DRPO to me. but what do i know? :rolleyes:
     
  2. Venelin

    Venelin Master Sergeant

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    Hi Michael, In my opinion if you have B&B , you can not have DRPO (one is continuation other is reversal ),as in this case price had reached 38.2res. during first penetration which triggered bnb . According to DiNapoli drpo can not reach support after penetrating 3x3.That`s why it is bnb-single penetration against the trend and continuation after .Now after bnb has completed it is just something else,but not drpo. Cheers!
     
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Yes, I agree with Venelin. Or, this was not B&B... :)
    Michael, you need investigate market mechanics of both patterns to understand it. If market show retracement to significant support level - many traders fix profit and that leads to lack of steam of DRPO trade. DRPO needs to have all traders aboard, because particularly their stops make DRPO works.

    Something like DRPO you can see now on daily AUD/USD...
     
  4. pragmatic

    pragmatic Corporal

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    Hello Sive!
    What do you think about possible butterfly on H4? 1.618 extension is at 38.2 retracement from the initial plunge on weekly (daily).
    Thank you!
     

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  5. Wkc

    Wkc Recruit

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    Sive, thanks for your views. Sorry but what does "SG" stand for? Maybe I need to reread the DiNapoli book?
    thanks
     
  6. Joshnix

    Joshnix Corporal

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    Stop grabber where in this case it would show a trend change on the daily and then close would be below the MACDP line. This happens mostly do to stops being triggered!
     
  7. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Pragmatic. Nice analysis and good observation! Very probable, why not...

    Hi Wkc,
    SG has not mentioned in the book, because DiNapoli has invented it later. Please, use search option - I've explained it many times
     
  8. Synchronicity

    Synchronicity Sergeant

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    Thanks guys - forever learning :)

    Michael
     
  9. Triantus Shango

    Triantus Shango Sergeant Major

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    sive, how should we interpret this triangle formation on the monthly chart? did we complete the 5th wave already and market is about to go up in a 6th wave? the orange rectangle being a potential target area over the next 3 to 5 months?
     

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  10. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Triantus,
    discussion of triangles is often a challenge, it's like with psychologist - "What do you see on this picture?" :)

    Personally, I'm not quite agree that this is triangle, because first downmove didn't touch it's border. This could happen closer to an end of triangle, but in the beginning of it looks curious.
    Also you can find Butterfly "Sell" here and even more different patterns... I prefer deal with issues that I have on the table - trend is bearish, price action is bearish. Now we see retracement up - try to use it for short enter until you'll see something opposite.
    My experience tells that dealing with huge long-term patterns trying to predict where they could lead very rare leads to material result.
    I have nice patterns on quarterly Dollar Index, that we've discussed, and they are bullish for USD. That's why currently I probably treat situation as potentially more bearish than bullish.
     

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