Special Consultant to the FPA
Hi Ochills,Good Day Sive,
Thanks as usual for your priceless analysis. Pls help with the following questions.
1.What are the price exhausting signs/potential termination signs you often watch for in the market or during trading hours.
2.I think about 2 months ago, I received a message in my mail box from FPA asking if anyone will prefer a trading signal or trading system, pls I just want to know if you have started the stuff.
3.Finally you shared the pivot point indicator you use in MT4 last week. Pls do you usually change the inputs for the period & offset? I use Excel for mine, but I observed that there are little discrepancies which I think it is not negligible + or - 40 pips and sometimes over. But if I offset to 2 the values will change but the results is not the same with my excel results. In your analysis for this week on daily chart the pivot values are the same with my excel weekly pivot point results, so I think the PP is meant for weekly. Pls can you explain how you are using the pivot indicator? Pls I will like to adopt this indicator it will make my analysis fast and easy. Kindly illuminate this darkness for me. I use Alpari MT4.
Thanks as usual Commander in pips.
1. Most common exhausting pattern is a wedge in different forms, 3-Drive pattern, wedge at extension of butterfly, H&S patterns and other.
Much better if this pattern appear near significant Fib level. Also it could be accompanied by divergence, for instance.
2.Well, It is not strongly depends on me, since I'm not a programmer. But I know that work on this project is under way. Do not worry, I suppose there will be loud announce of starting this
3. Indeed, it's not obvious to use it . On Monday you have to use "-1" parameter but on Tuesday shift it to "0". The same is for Monthly Pivot. If month ends in weekend, then to calculate Pivot for nearest working day you have to use "-1" as well.
HEre is easy way to check the number - plot 1x1 DMA on weekly at HLC/3. This is in fact number of WPP. IT shoud have the same number as indicator shows.