1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

FOREX PRO Weekly March 14-18, 2011

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Mar 13, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Joined:
    Aug 28, 2009
    Messages:
    12,614
    Likes Received:
    18,472
    Yes, looks correct, good work.

    Hi Ochills,
    On JPY your butterfly is OK, but due turmoil with the Yen - there is no surpise, that buttefly does not show support, where it has to...
    Keep in mind very simple rule. If you see, that market just fall like a stone to the area where you intend to buy - it's better to wait when it will stop falling first and not enter just from level. Butterflies could have even 2.618 expansions. Sometimes... Be carefull with Yen. And remember our previous researches - there is AB-CD pattern on monthly chart with the target around 78... (If i do not mess something - check it).

    Concerning AUD/CAD pair - butterfly that you've drawn there is Butterfly "Sell" - it was canceled when market move below initial swing. But currently Butterfly "Buy is developing - the high of right wing is around 1.0015. Currently it's difficult to say - will market turn when it will reach the target or not - it has not happened yet. But be careful with pacific currencies now - AUD, NZD, JPY...
     
  2. Jyotiprakash Pal

    Jyotiprakash Pal Sergeant

    Joined:
    Jul 5, 2010
    Messages:
    225
    Likes Received:
    7
    Hi mate i am not a big trader like others here.. i am a college student.just 23 year old :eek:oh: about money management its totally depand on you... I use resistance/support agreement trend and Ema's .. lucky me ..maximum time get money :) Today i am getting big money :) enter again on Euro .. u can see a pinpoint entry :) living my templete for you ...


    Thanks sir :) i was hit lots of time for pip hunting :) its ur greatness make a scalper an analyst :) I am getting mad about harmonics.. i can see them everywhere .. trade 3 Drive Sell on Euro/GBP .sir can u suggest me any book.. where i can go deep too harmonics ?. great updates on millitery school :) wish they come more frequent .. but sir we know .. its nearly impossible too get much time from ur schedule .
     

    Attached Files:

    #32 Jyotiprakash Pal, Mar 17, 2011
    Last edited: Mar 17, 2011
  3. AMDAM

    AMDAM Recruit

    Joined:
    Oct 22, 2010
    Messages:
    3
    Likes Received:
    0
    TQ for butterfly drawing

    Thank You For drawing...it help a lot
     
  4. Jyotiprakash Pal

    Jyotiprakash Pal Sergeant

    Joined:
    Jul 5, 2010
    Messages:
    225
    Likes Received:
    7

    :) thanks too sive sir .. who is continuously teaching this volatile market .. :nerd: cheers
     
  5. Sive Morten

    Sive Morten Special Consultant to the FPA

    Joined:
    Aug 28, 2009
    Messages:
    12,614
    Likes Received:
    18,472
    EUR/USD Daily Update, Fri 18, March 2011

    Hello Ladies and Gentlemen,

    Looks like our yesterday's trading plan has done well, and market is underway to 1.41 area.

    Daily
    I will be watching for Sell signals in 1.41 area because it includes - possible start for 3-drive Sell pattern, 0.618 target from ABC, target of Butterfly "Sell" and, as you can see on 4-hour chart 1.4090 is a target of AB-CD pattern. So, If you have Long positions - reduce volume, close them or at least tight stops.

    4-hour chart
    Trend is bullish, you can see all stuff by yourself -Butterfly Sell and AB-CD - all in 1.41 area

    1-hour chart
    trend is bullish. If you like scalp trades, possibly, you can make one even today. Look how current up move is developing - thrust - 0.382 retracement - thrust.
    So, market neither oversold nor overbought, so you may try to enter Long from 1.4020- 1.4030 area with stop below 1.3990, that is hourly Confluence support. 1.4014 - previous daily highs and I think that market should not return below it, if bulls are still in charge. Target the same - 1.4090-1.4110.

    P.S.
    By the way - the new part in FPA Forex Military School has been released:
    http://www.forexpeacearmy.com/forex-forum/forex-military-school/
     

    Attached Files:

  6. ike7771

    ike7771 Private

    Joined:
    Nov 26, 2010
    Messages:
    14
    Likes Received:
    0
    Hi Steve,
    I never thought it would exist in Greek.
    I look on it .
    Thank's again
     
  7. m0z1

    m0z1 Private, 1st Class

    Joined:
    May 29, 2010
    Messages:
    54
    Likes Received:
    0
    EUR/USD buy on dips

    Dear Sive

    Thanks for your insight into the market.

    The market has hit 1.4090 area and is retracing. In this case should we buy again on dips or wait and see what happens?

    Thanks
    Mili
     
  8. ochills

    ochills Master Sergeant

    Joined:
    Dec 24, 2009
    Messages:
    278
    Likes Received:
    62
    Thanks for Your GREAT ANALYSIS

    Thanks Sive
    for your reply as usual.
     
  9. Sive Morten

    Sive Morten Special Consultant to the FPA

    Joined:
    Aug 28, 2009
    Messages:
    12,614
    Likes Received:
    18,472
    Hi Mili.
    Looks like market has hit area for entering long at 1.4030 just before you was abled to buy...
    Well, currently I think is not very suitable moment - where do you place your stop? Any logical area to do that will give us unwelcome risk/reward, I suppose...
     
  10. m0z1

    m0z1 Private, 1st Class

    Joined:
    May 29, 2010
    Messages:
    54
    Likes Received:
    0
    Thanks Sive...
     

Share This Page