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FOREX PRO Weekly May 21-25, 2012

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, May 19, 2012.

  1. Urum

    Urum Private

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    Hi Sive

    What do you think, during next week will that 1.2625 low from January hold or market will continue further down?
     
  2. Venelin

    Venelin Master Sergeant

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    Hi Sive and all,
    Strong and simple analysis as always-thank you! I just want to add that a daily DRPO could start building also early next week! Cheers :)
     
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Urum, currently we do not even see the style and strength of retracement. So, a bit more action is needed to tell.

    Yes, Venelin. THis is possible. In this case we can see either deeper retracement or DRPO "Failure" that will become our triggering pattern to enter short.
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Nice B&B "Buy" on hourly chart is forming.
    Daily traders should avoid it, but if you're scalper, you may try to catch it.
     
  5. tunji wahab

    tunji wahab Private

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    Hi Sive, thanks for your valuable analysis always. pls where do i get to read more about B&B and 222 patterns? thanks
     
  6. Triantus Shango

    Triantus Shango Sergeant Major

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    gartley 222 and butterflies --> trade what you see, by larry pesavento & leslie jouflas
    B&B --> Trading With DiNapoli Levels, by Joe DiNapoli

    buy and read those 2 books. plus the FPA school section.


     
  7. ochills

    ochills Master Sergeant

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    Hi Sive,
    thanks for your lovely update as usual, it is priceless thanks.
    1.pls in your daily analysis on daily TF you said market has hit daily oversold but on my chart I use DOSC to determine overbought and oversold. Price has not hit oversold on my chart. I calculated the levels based on your explanation in the military school 130-150periods and average of the 3 extreme low levels of the 130-150pips period (i.e. 3 different level of 130-150pips)then multiply by 90%. Pls right my wrong if I miss it. If possible can you share the indicator U use for your overbought and oversold.
    2. what indicator do you use to determine when to buy deep or rally? or you wait for retracement at a crucial level just like your explanation in this week analysis.
    thanks as usual.
     
  8. Ivan Helfman

    Ivan Helfman Private

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    Hi Sive,
    Do you consider the H4 price action a B&B buy too?

    Ivan
     
  9. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Ochills, DOSC and Indicator, that I use are the same. The difference may come from different level of oversold that we apply. You said, that you use 90% of oversold. On current chart I apply 85% or even 80% (do not remember exactly). The reason for that is EUR/USD quite rare hits 90-100% oversold zone. More often it respects 80-85%.
    Unfortunately I can't share it, since FPA may get solid legal problems. To programm it and to use is legal, while distribute it by any way is forbidden.
    But I give you a clue. Wright on paper the formula of DOSC and try to derive the price, when DOSC will hit your oversold or overbought level. This is very simple.

    Hi Ivan. No, there was insufficient thrust to treat it as B&B.
     
  10. Triantus Shango

    Triantus Shango Sergeant Major

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    sive, where is your A-B-C point on H1? i drew two fib ext and don't get 127.2 at the same level as yours.
     

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