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FOREX PRO Weekly June 04-08, 2012

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jun 3, 2012.

  1. rashidin5178

    rashidin5178 Sergeant

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    Yeah dude!
    B&B buy as per our today update recommended by Sive. Let see whether we have a party or not tonight?
    Thanks and Best Regards
     
  2. cercamon

    cercamon Private, 1st Class

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    Actually, in case 1.2410 holds, we also have AB-CD in 4h TF with 100% target at 1.2666 (just near MPP).
    I see too many factors pointing towards Upper Movement... hope it doesn't become a trap.

    By the way 30min DRPO it's shaping accordingly... let's see if it'll succeed.
     
  3. Triantus Shango

    Triantus Shango Sergeant Major

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    yes BUT.... the next move up could also simply be the left side of the 2nd triangle making up a gartley/butterfly buy... there is at least a left wing. of course, doesn't mean the right will complete but something to watch out for. so i'm keeping an eye on 38.2 and 61.8 on the way back up from the last drop down today. if this turns into a gartley/butterfly, then the move up will be quite short-lived and we'll be looking at a deeper downslide.

     
  4. rashidin5178

    rashidin5178 Sergeant

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    Wooohoooo, guys?:cool:
     
  5. Triantus Shango

    Triantus Shango Sergeant Major

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    yes, rashidin?? you been smokin' again? :p
     
  6. asif faryad

    asif faryad Sergeant

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    Understanding your emotions when Trading:

    As per Damians post i thought i would try and put a simple example of how your emotions should be once you have entered a trade based on your edge...

    Ok those of you who have been to Vegas on a holiday must have visited one of the casinos...

    When your on a night out for pleasure and you go in and play the fruit machines or what ever your game is...

    Example you put $1 into a slot machine what do you expect $5?? i would imagine the majority would not expect ANYTHING as the probability is low and WE KNOW AND ACCEPT THIS and when nothing comes out it does not effect US AT ALL! We move on as if nothing had happened,as when on a night out if we have $100 for example we dont expect anything we are on a night out.....

    THIS IS THE STATE YOU NEED TO REACH WHEN YOU HAVE ENTERED A TRADE AS IT HAS A HIGHER PROBABILITY OF WINNING BUT IS UNCERTAIN AS THE MARKET CAN DO WHAT IT WANTS AT ANYTIME..

    Just move on to the next one ...... As 95% if we dont let our emotions get in the way the trades would have been great....

    We say we accept the risk (Stoploss) but in reality when we start to alter ARE WE TRULY ACCEPTING THE RISK???

    Thats all folks :))))

    Have a great evening!!! to all colleagues.
     
  7. seedof

    seedof Corporal

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    Commander Sive what about the sentimental analysis thread you started what is the update about it
     
  8. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Seedof,
    FPA is working with it - it needs some time to programm it and test. But process is underway.
     
  9. jamesolufemi10

    jamesolufemi10 Recruit

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    thanks mr Sive for all this analysis
     
  10. pragmatic

    pragmatic Corporal

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    Hi Damian!
    I see that you are becoming a serious trader by the day and I really appreciate your posts.
    I think I have some of your problems too. I started to take a different approach. In your 15M example trade you acted in anticipation of the price action.
    After really listening to Sive lessons, I began entering trades following the price action and not anticipating it. In your example there was no noticeable bearish price action, I mean no thrust to the down side, just slow movement. Yes, the trend on 15M was down but this is of less importance than the price itself. Of course it will bring not such a good entering point but I am sure that overall profit is far better, from my recent experience.
    Another thing in your example is that, in fact, the more noticeable price action on 15M was to the upside. Take a look that price went to 61.8 directly, more quickly than the prior slow move down.
    Just one more thing I noticed is that Daily trading that Sive is using is not by chance. One day trading is truly relevant and you can make an ideea of what is going on. 15M is never relevant per se, just in combination with other bigger time frame analysis. In your example, only a strong reaction on 4H or 1H chart could give you the idea that the market is responding to the resistance zone.
    Just sharing my recent experiences.
    Good trading to you all!
     

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