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FOREX PRO Weekly October 15-19, 2012

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Oct 13, 2012.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Ochills,
    Severianus outstriped me a bit. Yep, just remove "ray" feature in properties of trend line...
     
  2. MidnightRun

    MidnightRun Sergeant

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    Same goes for FIB by the way
     
  3. D.R.&Quinch

    D.R.&Quinch Sergeant

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    What software are you using?
    if market scope and i understand what you are asking, then you would need to use line function, with which you can tailor the length of the line. Then copy the line?
    have i misunderstood?
     
  4. squidge42

    squidge42 Corporal

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    People have mentioned turning the ray on or off.
    However the best way to draw n ABCD in MT4 is the Fibonacci Expansion tool.

    Click Insert Fibonacci > Expansion.
    Then draw the AB leg and drag the C leg the correct point.
    It then gives you 61.8, 100, and 161.8 levels..you can add others in the properties
     
  5. ochills

    ochills Master Sergeant

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    Thank YOU ALL.
    thanks once it is highly appreciated.
     
  6. anjinho

    anjinho Recruit

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    Like I wrote before it start to look more and more like wave 4 and then a burst up to wave 5, 1,32 something
     
  7. D.R.&Quinch

    D.R.&Quinch Sergeant

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    what timeframe are you looking at?
     
  8. anjinho

    anjinho Recruit

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    Weekly it s seen clearly, target greater than 1.32. So much for my shorts. But after that abc correction if I am correct, so then it is time to regain a bit
     
  9. BeeKay8

    BeeKay8 Sergeant

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    Hey Sive,

    My question is not really related to your analysis today.

    I have a question about the DRPO pattern.

    In the book, it says "the signal remains intact (...) until the 0.618 retracement from the furthermost extreme of the consolidation area to the furthermost extreme on the thrust, has been exceeded on close."

    I am having a bit of trouble understanding this. Is this the way you exit from a DRPO also or do you use another method to exit the trade? Maybe k-support or 50% of the thrust up or something?

    Thanks!
     
  10. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Beekay,
    probably you confuse failure point with target of DRPO. Those part of text that you've posted - it tells about conditions of DRPO failure, i.e. if price exceeds 0.618 retracement by close.
    And target, yes, 50% support/resistance of thrust of DRPO (although this is not specified in book). In book minimum target is OP (AB=CD) from the tops of DRPO. I give you example on Gold chart, although this DRPO is not perfect:
     

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