FOREX PRO WEEKLY September 23-27, 2013

[firestarter]

hi there Mr. Sive...
From your chart & analysis, i see your not scalp trader. I like your analysis.
I want to know your analysis for GOLD PRO Weekly September 23-27, 2013
Please update Sive..

thanks.

 

[vgjune]

Sive, a quick question concerning OB/OS Joe DiNapoli recommends looking back 6 months on a daily chart to find the average of the peaks and valleys, but what look back period do you use on the weekly or even the monthly if you have enough data? Looking back 2 years vs 4 years on a weekly chart generates very different levels.

Thanks you, VGJUNE

 

[minimax]

barry lacroix, I totaly agree with Sive; nobody is perfect and more eyes see more (hope everybody understand what I ment..), send your point of view, I personally appreciate any kind of picture, regardless of the direction of the move; on MTF there is bearish C zone but for crab with D around 1,1000 and/but decision to paricipate in such trade is personal...



add: agreed with Sive and Venelin

 

[Sive Morten]

Sive, a quick question concerning OB/OS Joe DiNapoli recommends looking back 6 months on a daily chart to find the average of the peaks and valleys, but what look back period do you use on the weekly or even the monthly if you have enough data? Looking back 2 years vs 4 years on a weekly chart generates very different levels.

Thanks you, VGJUNE

Hi,
If my mind doesn't trick me, Joe tells to use 120-180 periods, not days. Hence on weekly it will be 120-180 weeks, on monthly - months correspondingly. Thus on monthly this will be as many bars as broker could give you. If you do not have enough history then it is better to not estimate monthly OB/OS and rely only, say, on weekly.
But as a rule data on EUR comes from early 90's. So, there is enough data for that purpose. OscP uses 180 bars history.

 

[minimax]

Hello,

I am staying bullish as long as Fridays low @1,34967 holds, because taking it, lower fractal on Daily is in play and retrace could go lower, maybe to close gap and lower (my other count)..

Good trading!

 

[minimax]

Hanjo, I would like to share my view to cable with you:

as Sive said - all pairs have same picture as euro and cable the same; as long 1,59833 stays intact, I am bullish but target for deeper retrace could be close, in 1,6200/50 zone...just touching 1,62624 put height of c in this zone under question...

Good luck!

 

[minimax]

we might start 5th wave, 1,34967 must not be broken..

butterfly or crab?

 

[minimax]

Well, although new LL have bought but smaller trade sizes; stops 1,33840 but will monitor development of this move although I think this low just annoumces last leg up BUT new HH must be established in next 7 hours OR another count is in play.

 

[minimax]

Closed all longs, hate this inbetween situation, and changed count. Daily retrace find not ended and expect to go lower but from where? Patience...

Good trading!

 

[minimax]

Found potentialy good pattern, maybe early entry but thats why small one...TF = H4

Good trading!