FOREX PRO Weekly September 24-28, 2012

[Mahen Ganhewa]

Hi, Mahen,
Hm, to be honest I do not see any stop grabber on 4H chart...

Thank you sive. I now see the 3rd most recent candle on the 4h, got very close, but didnt quite achieve the minimun MACDIP target for stop grabber. Thank you again. your kindness is unparalelled.

 

[Joh]

Thank you Sive, your work and dedication to teach us is amazing- much appreciated

 

[rashidin5178]

Starting Bar for B&B or DRPO on Daily

Hi Sive,
Thanks again for your wonderful analysis as usual.
I just have some difficulties to define the starting bar for DRPO/B&B whenever the thrust is not constantly closed below or above 3X3 DMA like what we have now on daily tf. Refering to your daily chart currently, my understanding is that you are calculating the thrust from 28th August's bar, isn't it?

For the purpose of education, I need some clarification about the following questions:

1. Why this bar is selected since we also have 1 or 2 bars closed below 3X3 DMA after this bar? Why not we choose bar on 5th September for instance?
2. If this bar is selected as starting thrust for DRPO/B&B, we are just a few pips (around 15pips) from .382 retracement that maybe DRPO Sell could already invalidated?
3. From your experience with regard to current technical scenario, do we have any considerable possibilities that false break will happen if on Monday price will take out previous low around 1.2919 (overshoot)?

Very appreciate your dedicated efforts to all our forumers. I do not have any suitable words to express my gratitude to you and Felix except thank you very much, Sir.

Have a great weekend, Sir.

Thanks and Best Regards
Rashidin

 

[D.R.&Quinch]

i noticed a bit of confluence here.its probably wrong but im still practicing

the second is further confirmation of support.

 

[D.R.&Quinch]

OR even this bullish butterfly

 

[muzammil_p]

Gold ... is it DRPO pattern

Hi Sive,

Thanks for your help and guidance all the times.

Can you please let us know whether it could be DRPO in GOLD in Daily time frame?

Thanks once again.

Muzammil

 

[Sive Morten]

Hi Sive,
Thanks again for your wonderful analysis as usual.
I just have some difficulties to define the starting bar for DRPO/B&B whenever the thrust is not constantly closed below or above 3X3 DMA like what we have now on daily tf. Refering to your daily chart currently, my understanding is that you are calculating the thrust from 28th August's bar, isn't it?

For the purpose of education, I need some clarification about the following questions:

1. Why this bar is selected since we also have 1 or 2 bars closed below 3X3 DMA after this bar? Why not we choose bar on 5th September for instance?
2. If this bar is selected as starting thrust for DRPO/B&B, we are just a few pips (around 15pips) from .382 retracement that maybe DRPO Sell could already invalidated?
3. From your experience with regard to current technical scenario, do we have any considerable possibilities that false break will happen if on Monday price will take out previous low around 1.2919 (overshoot)?

Very appreciate your dedicated efforts to all our forumers. I do not have any suitable words to express my gratitude to you and Felix except thank you very much, Sir.

Have a great weekend, Sir.

Thanks and Best Regards
Rashidin

Hi Rashidin,
1. Aug 28 is not a thrust calculation, it's just a reaction point for Fib levels. If thrust has minimum required number of bars, hence it is suitable for directional pattern. Thrust starts from Sep 05.

2. We can't exclude this totally. Of cause perfectly, DRPO should not reach even 0.382. Still, if market will show higher second top of DRPO, I will still think that DRPO is valid. Because 0.382 is first support, that used by most traders as entry opportunity, optimism will be even greater, if market will hold above it and then create new high (Second top of DRPO). So, from market mechanics DRPO will be still possible

3. Well, I do not have any tools that let me say definitely wether it will be failure break or not. But this is not important currently, at least for me. What is important - completed patterns. I do not care much about what particular pattern will appear, since we can trade any of them.

Hi Sive,

Thanks for your help and guidance all the times.

Can you please let us know whether it could be DRPO in GOLD in Daily time frame?

Thanks once again.

Muzammil

Hi Muzammil,
at my chart today is first penetration of 3x3 (at least currently), so may be we can get DRPO but a bit later.

 

[D.R.&Quinch]

its in the prz

 

[rashidin5178]

Hi Rashidin,
1. Aug 28 is not a thrust calculation, it's just a reaction point for Fib levels. If thrust has minimum required number of bars, hence it is suitable for directional pattern. Thrust starts from Sep 05.

2. We can't exclude this totally. Of cause perfectly, DRPO should not reach even 0.382. Still, if market will show higher second top of DRPO, I will still think that DRPO is valid. Because 0.382 is first support, that used by most traders as entry opportunity, optimism will be even greater, if market will hold above it and then create new high (Second top of DRPO). So, from market mechanics DRPO will be still possible

3. Well, I do not have any tools that let me say definitely wether it will be failure break or not. But this is not important currently, at least for me. What is important - completed patterns. I do not care much about what particular pattern will appear, since we can trade any of them.

As always, your reply is helping me a lot. Thank you, Sir.

Thanks and Best Regards
Rashidin

 

[Anu]

Hi Sive,

Is it too late to reach 28015 area for the B&B now as it's already close of EU market or can it go down before close of today's candle? Trying to see whether market return for a DPRO from this level.

Thanks,

Anu