FOREX PRO Weekly March 26 - 30, 2012

Hi Sive,

Thank you very much for your weekly/daily analysis. I really appreciate it. When I read a Dinapoli book for the first time, I could not understand at all but your weekly and daily analysis are helping me a lot to understand Dinapoli trading. And my trading has been dramatically improved. Over three weeks, I lost only one trade and importantly, no loss in the total for three weeks. That is amazing. Thank you very much and I look forward to your daily video every day. Thank you.
 
Thank you heaps Sive-great clear charts and i can easily read the price numbers now on the right hand side - brilliant! thks again :)
 
Hello Sive!
I have a question about strategy.
I entered yesterday at 61.8 expansion on H1 (1.3300). That was WR1 and 38.2 of strong bull bar. It was a perfect 3 Drive Buy pattern on M15. (ignore the order above that, it was an attempt of minesweeper)
The 3Drive Buy failed but then I see a possibility of butterfly Buy at 1.27 and hold positions. Was it a wrong approach?
Thank you!
 

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Hello Sive!
I have a question about strategy.
I entered yesterday at 61.8 expansion on H1 (1.3300). That was WR1 and 38.2 of strong bull bar. It was a perfect 3 Drive Buy pattern on M15. (ignore the order above that, it was an attempt of minesweeper)
The 3Drive Buy failed but then I see a possibility of butterfly Buy at 1.27 and hold positions. Was it a wrong approach?
Thank you!

Hi Pragmatic,
It was hardly butterfly, because this is reversal pattern, and these lines that you've drawn suggest that it has appeared on top. Butterfly "Buy" can't appear on top, since this is upward reversal pattern.
In general, you should stick with your trading plan. IF you trade 3-Drive and it has failed, just close position, dont' search any other reasons to hold it, until it was predefined initially by your trading plan. The same is for any pattern that you trade. Fortunately harmonic patterns have well-known and clear conditions of failure, entry and target points.
 
Thank you for the advice! I will follow that for sure.

I noticed I did not explain the butterflies. Here it is. They have perfect 1.618 expansions.
It was a beautiful signal for entering long, but I already had the positions. :(
 

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Hey Sive,

What are your views on holding positions over the weekend? Too risky? Do you oppose doing that because of the events that may happen over the weekend, or would it be a good move if you have a winning trade and move it to BE?

Thanks! Cheers! :)
 
Hey Sive,

What are your views on holding positions over the weekend? Too risky? Do you oppose doing that because of the events that may happen over the weekend, or would it be a good move if you have a winning trade and move it to BE?

Thanks! Cheers! :)

Nice question, buddy :)
If you trade on daily time frame and your target has not been hit yet - you probably will hold position through Weekend, but protect it with corresponding orders.
If you're intraday trader - the answer is obvious.
 
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