FOREX PRO WEEKLY, October 18-22, 2010

Slim Trady

Private
Messages
25
Hi Sive,

I always look forward to reading your analysis and see where it agrees or disagrees with my general analysis.

One thing I've been meaning to ask you is the placement of the pivots on your charts. I'm a great believer in the significance of pivot areas and spend a lot of time watching price action at pivot areas to see if price is going to react.

My experience tells me the pivots I'm using are accurate, however they dont agree with the placement of your pivots.

For example I have Weekly Pivot on EUR/USD at 1.38870, you have it at 1.3959. This is a significant difference. You have WR1 at 1.4150, I have it at 1.4138 - a more acceptable difference.

Can you explain this?
 

Sive Morten

Special Consultant to the FPA
Messages
13,631
Hi Sive,

I always look forward to reading your analysis and see where it agrees or disagrees with my general analysis.

One thing I've been meaning to ask you is the placement of the pivots on your charts. I'm a great believer in the significance of pivot areas and spend a lot of time watching price action at pivot areas to see if price is going to react.

My experience tells me the pivots I'm using are accurate, however they dont agree with the placement of your pivots.

For example I have Weekly Pivot on EUR/USD at 1.38870, you have it at 1.3959. This is a significant difference. You have WR1 at 1.4150, I have it at 1.4138 - a more acceptable difference.

Can you explain this?
Sure, it's very simple. The point is, that I use futures charts and quotes, not cash FOREX market, and it has a difference in quotes. So, you should use your own quotes.
As closer futures contract to expiration, as futures price closer to spot price.
Now the nearest futures contract is December, that expires in the middle of the month, so, the difference can be meaningful.

But, in general, they are the same, futures prices just is a parrallel shift of Forex prices. but the value of shifting changes with time.
 

onenikos

Corporal
Messages
89
Short Entries Ideas

Dear Sive, I have said before and don't mind repeating again that yours is one of the best technical analysis/approach I have seen around and believe me I have seen some. I am going to split the trade into 3 orders one of which is at the 1.4000/4040 range with stop at 1.4550. Second order placed just below .3959 and third at below .3914. A gradual weight for each will be applied. My targets are 3 at 1.3763/3440/3186. Stopes to be moved after confirmation and after first target to brk even for rest of trades.
All the best to you.
 

adams1

Private
Messages
20
which point is safe to enter short Gbp/Usd

Hi Sive,
Thanks for all your effort to make millions to succeed in FOREX by following your analysis.
Sir the market is at 1.58940 presently for Gbp/Usd, can I enter short now or where is the safest point for me to enter short.
I am expecting your reply, sir.

Thanks
Adamson Erha
 

Sive Morten

Special Consultant to the FPA
Messages
13,631
Hi Sive, I was waiting for a derepo on daily aud/cad, but happens a failure or I made a mistake?
Max
Hi, Max
I do not see clear all the condition of DRPO on your chart - but thrust is OK, if there were two penetrations, that this is a DRPO Failure. You're right.

Sive,

do you consider the close of the market for EUR/USD to be the close of the NY market, around 11 am EST?
Hi Wade,
Well, I use close of CME Globex futures, if we're talking about 24/5 market.
Also you may look at close of Settlement session also at CME, if you need a close price for identification of some patterns.
 

forexclues

Private
Messages
27
i need your help

hi sive please i need your help...

I am short on eur usd but i dont know if there is any possibility on whether the market can reach 1.3835 again

the decision is mine and all risk is mine but i need to know ur side

please help
 

Sive Morten

Special Consultant to the FPA
Messages
13,631
hi sive please i need your help...

I am short on eur usd but i dont know if there is any possibility on whether the market can reach 1.3835 again

the decision is mine and all risk is mine but i need to know ur side

please help
Well, There is a possibility than we can see H&S on the 4-hour chart - track this pattern. Now is left shoulder is forming. If it will be OK and market will not move above 1.4050 roughly, that we can see even lower levels. I'm also short from 1.3950 roughly, but with very shallow position, because nothing is clear yet...
 
Top