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FOREX PRO Weekly October 10-14, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Oct 8, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    EUR/USD Daily Update, Fri 14, October 2011

    Good morning,

    On daily chart we see some inside trading sessions and no retracement due overbought. It tells that market rather strong, and probably today we can expect some upside continuation, since overbought level at 1.3970...

    On 4 hour chart we see nearest target at 1.3840-1.3880 area of Agreement and forming bullish dynamic pressure - trend has turned bearish but market stands flat.

    On hourly chart 2 patterns - bullish Stop grabber (in circle) and Butterfly sell with minimum upward target at 1.3855-1.3865, extended 1.618 at 1.39-1.3920.

    So, I suggest that to the upside we will achiieve 1.3880 at minimum, especially if Retail Sales will help us.

    Other scenario is to the downside. If market will erase Butterfly and move below 1.3670 area, prefferably by some thrusting move, then probably we can count on continuation to 1.34.

    But currently it looks more bullish rather than bearish.
     

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  2. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Damian,
    yes, Joe's forum is very informative.
    Most DiNapoli experts are high professional traders, and their skills much better than mine. I suppose that Private seminars, as standard as advance give huge push in trading success, but I have not visited it, because my primary work is risk management in bank, not trading.
    Still, if you decide that trading is your call, and you seriously look at it - sooner or later you will fill neccesity of visiting seminars. Hopefully I will able to take some lessons from you in this case...

    Speaking about specific trading techniques, that were not mentioned in the book, such as stop grabber, volatility breakout (how to trade it?), Dynamic pressure Kibby trade and SOR - They could not be freely discussed, since I suppose there some law protection exists. Besides, with some degree of confidence I can discuss only Stop grabber, Dynamic pressure, Kibby trade and volatility breakout trading.
    I do not know what is SOR.
    But even this discussion demands advance understanding of Dinapoli technique and multiple time frame using etc.
     
  3. yousuf

    yousuf Private, 1st Class

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    hey sive.

    yo damian, check your inbox i pmed you!
     
  4. Triantus Shango

    Triantus Shango Sergeant Major

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    The retail trader's plight

    Sive

    considering your experience in the banking industry, what would say are the chances of retail traders to really make it in this business? How badly are the odds stacked against us?

    What i am getting at is this: let's say a trader knows everything s/he should know about techniques and implements the strategies with discipline and consistency; the trader's equity grows; will s/he hit a wall at some point because of some hidden structure in this business, like for example how retail brokers control their ECNs and risk exposure?

    Triantus
     
  5. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Well, Triantus,
    First, my experience tells me that "to know" is not the same as "to execute". Execution is 50%, other 50% is odds-positive trading approach. Execution includes all psychological stuff as discipline, diligency etc, accuracy...
    If so, then, probably you can succeed. Also huge importance is education from right persons. I don't know, for my trading style they are DiNapoli and his experts, just for example. For your trading style it could be some other person - but he/she has to be really professional who has reached success.

    Speaking about ECN, Retail brokers etc.
    My thought is at some moment is better shift to ecxchange traded market. Mostly it depends on account value. I think, that trade through some Forex broker with assets greater than 50K is unsafe. Definitely speaking, not just unsafe, but with such assets you can trade without those problems that OTC market has.
    This will safe you from a lot of problems. This is just safer from as law view as from financial view. I will not even consider such questions as correct indicators' work.
     

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