FOREX PRO Weekly September 10-14, 2012

[Sive Morten]

Thanks Sive for your reply. but my second question what I mean is that when I analyse GBP/USD the k-area between (5) & (3) is about 150 pip on weekly and if the same happen on daily and monthly but about 200pips wide. can I still consider it as K-area becos the pips value is wide

There is no rule of thumb what distance should be between levels to call it Confluence. 150 pip on weekly, I suppose is acceptable. On daily it should be around 40-60. One way to estimate it - apply harmonic number. On Eur this is about 40 pips. And use some multiplication when you shift to upper or lower time frames - if you want pure mathematical approach.
Personally, I check it visually.

 

[Sive Morten]

thanks Sive for your daily analysis , can you please share the pivot point indicators that you use on your MT4 chart ?

Sure, why not?

 

[Xenofanes]

Hi Lolly - thank you for sharing your ideas.
but I am afraid whether it is not too nice and maybe too simply - shouldnot we wait if something like W&R appears, wait for someone Big who takes stops above hammer or around 1.2950 or higher and only after such "confirmation" (some bearish engulfing) enter short?
I mean when maybe 60 or 70% of people are selling shouldnot we do the oposite? Do you check Liquidity consumers sentiment indexes on brokers web? (I dont know if I can put here some direct links on Oanda or Dukascopy)

 

[D.R.&Quinch]

Here is another bullish bat that has alot of confluence going for it. also shown is S1 daily pivot.
This might be way off beam, but the congregation around the pivot is interesting.
Please let me know if i am missing the point somewhere

 

[DJG]

Thanks so much Sive

 

[D.R.&Quinch]

not happy about b point.
right now

 

[BeeKay8]

Fed Undertakes QE3 With $40 Billion in MBS Purchases a Month. Market now at monthly k-resistance and weekly k-resistance.

 

[Xenofanes]

Ben Bernake is *******, he is going to blow up all my earnings in usd on forex. I agree with Sive I must find something better like CHF I cannot have usd trading account anymore.

“These actions, which together will increase the Committee’s holdings of longer-term securities by about $85 billion each month through the end of the year,"



I wonder what they do after several years, maybe burn all those long term securities because they already have less value than paper they are printed on.


"Paper money will always return to its intrinsic value - nothing."
French philosopher Voltaire after Frances ill-fated seduction by fiat currency in the 1700's.

China announced its intention to bypass the dollar for global oil customers and started selling merchandise using their own currency.:
"On Thursday, Sept. 6... just a few days ago, China made the official announcement. China said on that day, ......... any nation in the world that wishes from this point on, to buy, sell, or trade crude oil, can do using the Chinese currency, not the American dollar."
"On Friday, Sept. 7, Russia announced, that as of today, we will supply China with all of the crude oil that they need, no matter how much they want... there is no limit. And Russia will not sell or trade this crude oil to China using the American dollar."

But what to do with all the money? How about set up a company to sell fresh clean air and oxygen prefferably to China? For Renminbi of course.
20 years ago nobody would buy bottled water in every store as today.

PS everytime I wanted to post something fpa web constantly changes the languages, dont tell me I am the only one who has this problem

 

[ochills]

There is no rule of thumb what distance should be between levels to call it Confluence. 150 pip on weekly, I suppose is acceptable. On daily it should be around 40-60. One way to estimate it - apply harmonic number. On Eur this is about 40 pips. And use some multiplication when you shift to upper or lower time frames - if you want pure mathematical approach.
Personally, I check it visually.

Thanks Sive for your prompt response and straight to the Heart answers. God bless U. Thanks

 

[Joh]

Sive you have made my day -thinking of trading the AU -you cud not please me more -
Looking forward to your posts and i thank you again for your utterly professional reports.