FOREX PRO Weekly October 15-19, 2012

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:

Sive please i want to ask if you think gold will reach that DRPO target considering the bounce from 1728 area. Thanks always.
 
Daily butterfly is under progress and current level is 88% fib of previous high....
i think 3127-77 is a big resistance level,as u can see..
On 4hr- appearing bufly sell so if it retrace to at least 38% or 50% ..
EurUsd 4hr chart.jpg
EurUsd Dailychart.jpg
EurUsd weekly chart.jpg
 
Hi Sive,

I have general doubt... I remember once you were mentioning that you trade futures and not spot forex market... but i read that forex has the following advantages...
24-Hour Trading
Minimal or no Commission
Up to 500:1 Leverage
Price Certainty
Guaranteed Limited Risk

...............
so please can you or any one in the forum please educate me on which aspect futures is better than forex for daily traders?
 
Hi Sive,

I have general doubt... I remember once you were mentioning that you trade futures and not spot forex market... but i read that forex has the following advantages...
24-Hour Trading
Minimal or no Commission
Up to 500:1 Leverage
Price Certainty
Guaranteed Limited Risk

...............
so please can you or any one in the forum please educate me on which aspect futures is better than forex for daily traders?

Hi Avinash. Here we have nice educational resource - Forex Military School by FPA. Here you will find the answer and not only on this question:
Forex Military School | Complete Forex Education by a Pro Banker - Forex Peace Army Forum

Answer on your question stands particularly in Chapter 2 part III...
 
Hi all,
Nice 4H DRPO sell could appear today! Or even BnB buy within next 6 hours... Cheers!
 
Hi Dear Sive;
I was away for a year. I'm back now.
I would like to ask you. It seems to me that we're are possibly getting a drpo on the 1h chart in eurusd.
Does drpo work on 1 hour charts?
If yes, what would be the target.
Thanks again for all your amazing teachings!
sincerely
mjunkyard
 
Hi Dear Sive;
I was away for a year. I'm back now.
I would like to ask you. It seems to me that we're are possibly getting a drpo on the 1h chart in eurusd.
Does drpo work on 1 hour charts?
If yes, what would be the target.
Thanks again for all your amazing teachings!
sincerely
mjunkyard

From my understanding there needs to be thrusting price action before the DRPO. The 1 hour chart is very flat. The upward move on the 4 hour chart is more like what a DRPO should look like.

All the best

Michael
 
Hi Dear Sive;
I was away for a year. I'm back now.
I would like to ask you. It seems to me that we're are possibly getting a drpo on the 1h chart in eurusd.
Does drpo work on 1 hour charts?
If yes, what would be the target.
Thanks again for all your amazing teachings!
sincerely
mjunkyard

From my understanding there needs to be thrusting price action before the DRPO. The 1 hour chart is very flat. The upward move on the 4 hour chart is more like what a DRPO should look like.

All the best

Michael

Hi Mjunkyard,
welcome back, buddy. Actually, I agree with Michael, this is not DRPO. Take a look at previous page - I've explained DRPO to Beekay on Gold. It's also not perfect in terms of top, but still, it's better than on hourly chart.
DiNapoli specifies as target of DRPO - AB-CD pattern from its top or bottoms. But real DRPO usually reaches 50% retracement of its thrust.
 
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