FOREX PRO Weekly September 17-21, 2012

[Sive Morten]

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.

Hi Ochills,

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.

 

[Synchronicity]

For those waiting on the sentiment based analysis it may be worth looking at Alparis new service ProjectFX/. It allows Alpari clients to link their account for others to see and also allows for copying trades - manually or automatically (maddness in my opinion!!).

There are not a lot of users on it at the moment but looking at the performance of some it is easy to see the common mistakes manifest themselves. Steadily rising balance then wipeout in one or two trades, no stop losses etc.

I've registered with the same username - don't laugh if you look at my trading!!

All the best

Michael

 

[BeeKay8]

Hey all,

Could this be a DRPO LAL "Sell" on 4HR TF?



3/8 support of swing up coincides with Weekly PP...

 

[Sive Morten]

Hey all,

Could this be a DRPO LAL "Sell" on 4HR TF?

View attachment 6606

3/8 support of swing up coincides with Weekly PP...

Hi BeeKay,
I'm not sure that this is worthy even a LAL. Too poor thrust - just 5 bars, since previous penetration of 3x3 has reached 0.382 support level. Flat tops of DRPO, blur price action around 3x3 on top. Was there a second penetration, btw?

 

[D.R.&Quinch]

depending on price action, im long on this deep crab
HOWEVER, the time component to this is not harmonic, so it may fail ( also a good opportunity)

price action not exactly bouncing here soo....

 

[dkami]

I don't usually trade this pair but after seeing yesterdays doji and then a break of yesterdays low I took the sell,think 1st tp should be good around the 200EMA(pink)

 

[D.R.&Quinch]

thankyou for the chart postin sarge

 

[asif faryad]

The Mindset Of a successful Trader

Dear everybody newbies and all friends,

Its been a while!!! since i posted anything ,as i have been extremely busy in the refurbishment of my new home yes the damn builders in!! and its more like their home than mine at present lol..

Anyway as most of my older friends on this forum know i concentrate my time more on the mind than systems as this is the biggest one thing that makes it for a trader!

I came across this interesing webnair its a bit long 2 hours 15 mins so i suggest that when you have some chill out time at the end of your day. to have a listen ..

I hope you will find it interesting and helpful!

Bye for know!!!



Asif

 

[dkami]

thankyou for the chart postin sarge

Its like taking candy from a baby

 

[D.R.&Quinch]

really? i wish i found it that easy, altho i have captured 60 so far since last night
, i cant wait for the day when it becomes that easy for me!