FOREX PRO Weekly February 20-24, 2012

[TradeSpotting]

Hi Sive,

I'm watching for a triangle breakout on the 4 hr chart as part of a possible move up to the 1.36 level.

Mon is a holiday in the USA so will prob wait until Tuesday of this week.

 

[stranik]

Hi Sive,
I recently started to follow your analysis, and i am really amazed with the depth of your knowledge and your professionalism in sharing them. Personal 'thanks'.
I noticed that you used to do analysis on other currency pairs, but stopped because a lack of time. May I ask you, if the rest of your followers agree, that you allocate a little time, maybe just monthly analysis or bi-weekly on other major pairs, in lieu of that detailed eur/usd?
Thanks again for your time and high quality work,
stranik

 

[Sive Morten]

Hi Sive,
Again, wonderful analysis as always. Thanks a lot, Sir.
I just have one question here regarding Dinapoli patterns. In your experience normally when the pattern gave the signal, what we should expect from it. Is it fast movement to the direction of the signal or we should allow market to breath a while, let say 1 to 2 bars after the signal or we should be aware of failure if we see market is hesitate to move in the direction of the signal?
Have a nice weekend, Sir.
Thanks and Best Regards.

Hi Roger,
Most DiNapoli patterns (may be even all of them) have strict failure point. Until market will not reached them - patterns seem valid. If pattern is perfectly developing, then move according to it happens fast. But in most cases either starting conditions of pattern or its development skew a bit from perfect scenario. Here we have to be as flexible as patient and do not make fast irrational and gut decisions.

Hi Sive,

thank you for your analysis.

Looking at the current daily chart, I would like to have you toughts about a possible bearish gartley. We have an A point at 1.2970, we then retraced 61,8 that is ideal retracement for the gartley B point (1.3187). Now if market will retrace the 0.382 support around 1.3113 we have the C point, so then you can think that we have probabilities to have point D at 1.3335 about 1.618% extension of AB?

THANK YOU!


ForexBOOM

Hm, it looks like you're speaking about bullish Gartley A=1.2970, B=1.3187. This extension exists, but first is context, extension is second. While we have bearish context on daily - we look at bearish extensions. Extensions themselves do not give us direction.

Hi Sive

Thanks for all that you do here. I'm doing my best to tune in and am able to follow your analysis quite well, reading Joe's book many times as I go

My question might seem too basic but I need to be sure and I can't find the answer browsing the forum. What do you use to define trend? Is it a DMA, MACD or something else, and does it vary depending on which time-frame you are looking at?

Many thanks,

Michael

Hello, Michael.
Trend is determined by MACD only. DiNapoli speaks about DMA, because in that time not everybody has MACD. We use 3x3 DMA only for thrust identification and other directional patterns.
Also, we may use 25x5 DMA on long-term charts as indicator of sentiment shifting.

Hi Sive,

I'm watching for a triangle breakout on the 4 hr chart as part of a possible move up to the 1.36 level.

Mon is a holiday in the USA so will prob wait until Tuesday of this week.

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.

 

[Urum]

Thank you Sive for the great view

Just one thing

That on the monthly time frame, is not a hammer but a spinning top.

 

[davedubai]

Dear Sive , You have been unique in mentioning the pros and cons of market conditions. Your analysis has been simple to understand. Your explanations and analysis helps us not only to trade but the learning of how one has to be neutral in finding out the RIGHT TRADE ! Thanks Sive.
Thanks ..

 

[AndyM]

Thanks Sive, well thought planning for the week ahead......
Andy

 

[Ian Hendry]

Hi Sive,

I have a question about your 1hr chart, in particular the bearish engulfing candle. On my charts I do not see this pattern - I've market it with a blue arrow. I would need to combine the candle at the blue arrow with the next 2 candles to get the bearish engulfing. The only reason I can find to explain this is that you're start and end times are different from mine? What would be the "right" start and end times for the 1hr candles?

Thanks, Ian.

 

[Sylverayda]

Thank you Sive. What do you think about EU in Elliot Wave perspective? Is it possible that now we have a B-C correction to the upside?

 

[Venelin]

Thank you Sive. What do you think about EU in Elliot Wave perspective? Is it possible that now we have a B-C correction to the upside?

Hi, here is my preferable short term count A)=61.8C) or A)=C)
View attachment 4865

 

[Sive Morten]

Thank you Sive. What do you think about EU in Elliot Wave perspective? Is it possible that now we have a B-C correction to the upside?

Hi, here is my preferable short term count A)=61.8C) or A)=C)
View attachment 4865

Hi guys,
Actually I'm not a big fan of EW. But on your charts C point is lower than A at upward retracement...
Still, as you are interesting with it - here is what my software has drawn, may be it will be iteresting for you.