FOREX PRO Weekly January 13-17, 2013

[Venelin]

Hi Venelin,

I suppose there will form sell DRPO on H1. Now I see buy B&B on my H1 chart. But I don't want to buy because of OB manifesting on H1,H4,D1 and vicinity of MPR1. In my humble opinion the situation will develop in following steps:
- low gap open at Sunday,
- gap filling during Asian Sesion, maybe up to MPR1,
- maybe W&R above MPR1 at London open,
- then move down and sell DRPO on H1.

If situation will develop in that way, I'm gonna open short position wit TP@WPP and SL above MPR1.View attachment 7977

On Hourly chart we do not have minimum required bars(8-10) above 3x3 . As I sad on 30 min. looks like DRPO LAL sell possibility to be forming...

 

[yaakruay]

Sive,

Me and my wife are learning to trade your (Jo Dinapoli) style/system and want to say thanks for your videos and analysis.

My especially wants to say...you are the teacher with no face (never see your face only hear your voice on the vids)

She hopes you are young and do not smoke and will continue teaching until you are at least 100 years old ;-)

Thanks and good luck all happy trading...

 

[Marky$]

On Hourly chart we do not have minimum required bars(8-10) above 3x3 . As I sad on 30 min. looks like DRPO LAL sell possibility to be forming...

Yes, you're absolutely right. I missed requirement for bars number, I just looked at "solid trust". So maybe I can't call this price action DRPO. At least on H1.

And what do you think about retracement to WPP?

 

[Marky$]

Hi,
I am new to the forex trading and come upon this thread for some research and learning and i found your analysis is really thorough and hope to learn more, thus i would like to know the meaning of the short form like DRPO, WPS, MPP etc etc...is there a page on this forum to explain the full definition of those short form? it would be great if someone can help me out here...thanks



YH

Hi,

DRPO - double repenetration - from DiNapoli levels,
WPS - weekly pivot support,
MPP - monthly pivot point,

I recommend to you to enlist to Forex Military School.
It's really the best place to start learning Forex.

 

[Venelin]

Yes, you're absolutely right. I missed requirement for bars number, I just looked at "solid trust". So maybe I can't call this price action DRPO. At least on H1.

And what do you think about retracement to WPP?

I think retracement is due, but I do not see any signals yet.

 

[Zaleske]

Sticking with my butterfly, some questions arise...
Price is now slightly above 127.2 target and MPR1, but it's probably too soon to say those levels are breached for good, so pullback could take place, like Sive said.
Nevertheless, I'm looking at 161.8 target of said butterfly, and it coincides with WPR1, so in my opinion price could creep to that point before starting pullback, although we have to note that 100% completion point of AB=CD pattern stands in the way.
I think London open will give us answers.

 

[fyihhaur]

Hi,

DRPO - double repenetration - from DiNapoli levels,
WPS - weekly pivot support,
MPP - monthly pivot point,

I recommend to you to enlist to Forex Military School.
It's really the best place to start learning Forex.

Thnks for the reply, will certainly look at that.

YH

 

[BeeKay8]

Sticking with my butterfly, some questions arise...
Price is now slightly above 127.2 target and MPR1, but it's probably too soon to say those levels are breached for good, so pullback could take place, like Sive said.
Nevertheless, I'm looking at 161.8 target of said butterfly, and it coincides with WPR1, so in my opinion price could creep to that point before starting pullback, although we have to note that 100% completion point of AB=CD pattern stands in the way.
I think London open will give us answers.

I agree with you but I suspect market will respect this 127.2% of Butterfly mostly because 161.8% of Butterfly stands at 1.3487 and 127.2% AB-CD target on Daily chart is @ 1.3450 which means market will have to break 127.2% of Daily AB-CD to get to 161.8% of Butterfly. Also, 161.8% of Butterfly stands above WPR1.

Market is also at overbought right now on the daily chart so I personally think market has more chances to start retracement at around 1.3380 - 1.3430.

 

[mjunkyard]

Hi Sive,

Thanks a lot for your analysis. I read it since couple of months and learning from it and Military School. Since couple of weeks I'm trying to do my own analysis before reading yours one.
So, I have to proudly say that my analysis shows more and more confluence with yours one

Regarding to your question above, I can tell you

It will retrace first to WPP.
There is a nice DRPO forthcoming on H1, and a MPR1 a little above.
I hope, I'm gonna put my money for it.

Best regards

Dear Marky;
Putting "hope" and "your money on it" is most probably the most dangerous thing one could do in this vocation. This skill is made out of two aspects the "technical" and this is what Sive is teaching us so diligently. But, the second part which isn't less important is the psychology. A good book would be "trading in the zone" by Mark Douglas.

 

[Marky$]

Dear Marky;
Putting "hope" and "your money on it" is most probably the most dangerous thing one could do in this vocation. This skill is made out of two aspects the "technical" and this is what Sive is teaching us so diligently. But, the second part which isn't less important is the psychology. A good book would be "trading in the zone" by Mark Douglas.

Thank you for your care. I've heard about that book and I added it to my "must read" list.
I'm still learning and trading on micro lot account for education not for food. Yet.
Thanks to FPA and Sive's analysis and his FMS I see big progress on my road to trader career.
Since two months I feel like a World's Chapion on Break Even. Today I made two of them trading according to my plan. Maybe it's not a big deal. But taking into account that I blown out demo account a half year ago it's my personal success to not lose money. Next goal is to make profit.
I feel that I need some kind of "fear and greed" management to don't move SL so early to BE or to put Objective Points a bit closer

All the best.