FOREX PRO WEEKLY September 29-03, 2014

[kaslanci]

Hi Sive,

- Is ıt a perfect DPRO that you mentıoned on USDCAD 4hr timeframe. Why I asked ıs that we see some candles retraced through 3*3 dma. Can we rely on it? BTW if price moves north can we trade DPRO failure until 1190 ?
- Where do you suggest placing stop based on ab-cd daily taking position only on 1190.
- Can we wait for bat pattern also ? (Attachment)




Sorry for too many questıons.
Thanks.

 

[Sive Morten]

Hi Sive,

- Is ıt a perfect DPRO that you mentıoned on USDCAD 4hr timeframe. Why I asked ıs that we see some candles retraced through 3*3 dma. Can we rely on it? BTW if price moves north can we trade DPRO failure until 1190 ?
- Where do you suggest placing stop based on ab-cd daily taking position only on 1190.
- Can we wait for bat pattern also ? (Attachment)

View attachment 17019


Sorry for too many questıons.
Thanks.

No this is not perfect DRPO, since thrust is not perfect, but it seems acceptable if you have AB-CD on the back. Our worries were correct, as you can see, market now is continuing move up...
Probably you can trade DRPO "Failure", but hardly it will make sense, because what a sense trying to catch small profit, if you in fact have a plan to take short position? Besides, I'm not sure that this will be interesting trade from perspective of risk/reward;
As we have butterfly "sell" pattern - we can stick with it and place stop above 1.618 extension of butterfly.

 

[Kleinerbroker]

Well Sive , here we are , 1,61700 , AB = CD completed .

But we want to see now a confirmation before enter Long , correct ? Market must retest and ideally even a bit lower than this recent LowestLow ...1,6150 perhaps ( (7) of uptrend ) ?

Thank you
KB

 

[kaslanci]

Hi Sive,

Can we say thıs is RRT on 30 mınutes USD/CAD ? It is outside the country + rejectıon of price but the low of bearish candle is 2 pips lower than bullish candle so is it only bearish engulfıng?.



Regards.

 

[Sive Morten]

Well Sive , here we are , 1,61700 , AB = CD completed .

But we want to see now a confirmation before enter Long , correct ? Market must retest and ideally even a bit lower than this recent LowestLow ...1,6150 perhaps ( (7) of uptrend ) ?

Thank you
KB

Correct, we need some pattern that will let us take long position. Reaching of AB-CD target is just a half way.

 

[Sive Morten]

Hi Sive,

Can we say thıs is RRT on 30 mınutes USD/CAD ? It is outside the country + rejectıon of price but the low of bearish candle is 2 pips lower than bullish candle so is it only bearish engulfıng?.

View attachment 17024

Regards.

Yes, probably we can, but it already hit the target.

 

[kaslanci]

GBP/USD 30 min tf B&B Sell + Possible bearish grabber.


USD/CAD 4 hr tf Confirmed bearish grabber.

 

[Venelin]

GBP/USD 30 min tf B&B Sell + Possible bearish grabber.
View attachment 17026

USD/CAD 4 hr tf Confirmed bearish grabber.

View attachment 17027

Hi kaslanci,
On the cable 30min. BnB sell we have poor thrust down imho -BnB may work, but I 'd be looking for daily close if it confirms stop grabber. Also in euro may get 30min. BnB that may work as a scalp, but I would not rely on that as euro is so oversold...

 

[stelore]

Hi Sive,
where could be a correct SL for USDCAD?

TX a lot!!!

 

[Sive Morten]

Hi Sive,
where could be a correct SL for USDCAD?

TX a lot!!!

As we've based our trade on butterfly - stop should be above 1.618 extension of butterfly, then it has to be moved to breakeven - read our forex military school. There you will find detail explanation how to trade harmonic patterns.
This setup has worked already. Unfortunately butterfly has reached only minimal target - 3/8 retracement and has not led CAD to significant retracement...