Fibtree

Education on Double RePo on 15min chart in EUR/USD past week

FX:EURUSD   Euro Fx/U.S. Dollar
144 2 1
Hey Traders,

The Double Repo is defined by Joe as a reversal pattern that comes after thrusting market action. To be completed we need a close above the 3x3 a close below the 3x3 and another close above the 3x3Moving Average .
Although the Pattern clearly is most powerful in higher Timeframe (Daily and up) it can be traded with success in lower timeframes too. This week was a very nice setup on the 15Min EU chart that I took like described here.

I went long a bit before the 0.618 Invalid point and exited at the minimum target (50% retrace of the downmove, the double RePo followed from). My Stop was right under the low of the structure.

As you can see the move went a bit above my exit and terminated at the combination of a Fib retracement level and a Fib target point.
These levels are called "Agreement" by Joe DiNapoli and can be quite powerful .
And best of all, like most tools DiNapoli Traders apply, they can be determined ahead of time.

Thanks for reading, have a great week!
Brown.Michael.6
9 months ago
this is the biggest load of crap i have ever heard
Reply
Fibtree Brown.Michael.6
9 months ago
Hello Friend, unlike in some other places be assured that your opinion is appreciated here. However I would be grateful if you could explain in more detail or perhaps tell us your experience where you have found the Double RePo a bad signal :)

Take a look at this chart when you have the chance,

Why it was clear that stocks fall and why this is only the begin


The DRPO Signal allowed you to position yourself for big market moves ahead of time and with clear rules.

Have a great day
Reply
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