FOREX PRO Weekly October 31- November 04, 2011

[fridayseth]

Thanx sive

Thank you so very much for your professional guide .You are indeed making me to be a professional trader. Your analysis is making a big differrence in my trading. The Lord is blessing you real good

 

[Sive Morten]

Hi Sive,
Thanks once again for your highly professional analysis. Could you recommend a book to read to help me to understand Mr Da Napoli's theories a little better. What would you recommend?
Thanks again for all your hard work. Really appreciated.

Hi Mark,
If you familiar already with basic stuff, as moving averages, support, resistance, MACD, stochastic, then you can try to read DiNapoli book "Trading with DiNapoli Levels"
Also it could be useful - Leslie Jouflas "Trade what you see" - dedicated to harmonic patterns

 

[Munnyman]

excellent analysis Sive and written so that even I can follow it. Thank you very much.
Jjohn

 

[sardinian]

stop grabber pattern....

Hi Sive. I can't find no complete explication about stop grabber pattern in the web and I can't understand how it works.... 0_o
p.s. it's wonderfull your analysis this week.

p.s. n2...reading now your archive I found that you suggest "Trade What You See" book by Larry Pesavento and Leslie Jouflas....It is the right book for stop grabber pattern?

 

[Don Quixote]

Thanks Sive, great stuff, just a quick question re; daily chart, there is a blue line which I assume is a RSI type indicator, could you please advise the parameters? Many thanks.

 

[pckeys]

Double repo entries after strong move

Hi Sive...

Have been monitoring a the development of a double repo on NZDUSD 4hr.
The move down occurred long before the close of the signal bar.. I'm wondering what your thoughts are on entering on the close of the bar after such a strong move and what criteria could be used to filter out such moves to decide whether to enter or not..


As always, thanks for your time and invaluable advice

PCKEYS

 

[Sive Morten]

Hi Sive. I can't find no complete explication about stop grabber pattern in the web and I can't understand how it works.... 0_o
p.s. it's wonderfull your analysis this week.

p.s. n2...reading now your archive I found that you suggest "Trade What You See" book by Larry Pesavento and Leslie Jouflas....It is the right book for stop grabber pattern?

Hi Sardinian,
No, Jouflas' book is dedicated to harmonic patterns. You will not find stop grabber pattern in any book, because this is a pattern that DiNapoli has invented not much time ago. In current research I've explained how it works and why.

Thanks Sive, great stuff, just a quick question re; daily chart, there is a blue line which I assume is a RSI type indicator, could you please advise the parameters? Many thanks.

No, this is DiNapoli Oscillator Predictor. This indicator is for overbought/oversold estimation. In our FPA school, you may download Detrended oscillator to use for this purpose. They are equal in terms of signals that they generate, but look a bit different. Also read how to use it in corresponding FMS chapter.

Hi Sive...

Have been monitoring a the development of a double repo on NZDUSD 4hr.
The move down occurred long before the close of the signal bar.. I'm wondering what your thoughts are on entering on the close of the bar after such a strong move and what criteria could be used to filter out such moves to decide whether to enter or not..


As always, thanks for your time and invaluable advice

PCKEYS

Hi PCKEYS,
this is the type of DRPO that very often happens on intraday charts - it hits target simulteniously with confirmation bar.
Since target has been hit - you can't enter short just by DRPO pattern - it worked out already. You may try to enter in continuation of downmove, but this will be much weaker context - you will use just trend direction and initial impulse down.
You you've wanted to trade DRPO itself, than you have to skip this trade.

 

[adman]

Euro Oct 31 close

Sive, when you say that an Oct 31 close above or below 1.4038 is key to future of euro in November, do you mean 12 midnight close, or close of the last trading session ending Oct 31 which is the New Yorkl session which closes at 5 p.m. ET Oct 31 (2 p.m. PT)?

 

[Triantus Shango]

Guys

Don't you love CB interventions? The BOJ buys billions of $ and whoops! The EURUSD plunges.

Sive, is 3800-3840 where the C point is of AB-CD? And if so, should we expect a bounce up towards the D point to complete the leg before selling will resume? Don't have access to my full toolset right now so can't see whether or not we have a gartley sell in progress. Do we?

 

[Triantus Shango]

Next target

IMHO next target is the 50% fib leve at around 3700 now that mr market breached the 38.2% level. If daily closes under mid-BB, then i'd wager mr market will toy with 3500 not far in the future.