EUR/USD Daily Video, 30 September, 2015

[Sive Morten]

Good morning,

today we should get clarity on short-term perspective on EUR and chance to take position:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[Brett Reynolds]

Hmm. Waiting game. A move up to 1.1320 approx (61.8 or move down from 18th Sept ( 1.1450) would be perfect to look for PA to go short before NFP. Maybe that move will come today/tomorrow? If not then a break & hold below 1.1190 is a fair bet to go short!?

 

[lobotrader]

GBUUSD .... burned a lot of money trying to enter short when I thought (multiple times) that we have a break out short . Sive´s comment this morning well appreciated , that he still expects at least a minor bounce north before continuation short .

Wondering of target area for entry and which pattern should be expected before enter short .

I looked at the H4 , chart , and I am greatfull for your input . So I bounce up the 1,5330 + area would be good ? Or would you select H1 and search for some resistance in the 1,5210 area ( (3) in H1 ) ?

 

[lobotrader]

Here possible target for bounce in H1 already hit ?

 

[Sive Morten]

Here possible target for bounce in H1 already hit ?

Lobo, do not hurry. If upside bounce will start - you will not miss it, believe me. First we need to get some pattern that could trigger this bounce, but we do not have any yet...

 

[lobotrader]

Sive, Sir , thx for this confirmation . Patience and greediness are not my strength these days . Had a great last week and now must accept , it cannot continue each week . Spasiba . Lobo


.... but EURUSD trends short now

 

[lobotrader]

Lobo, do not hurry. If upside bounce will start - you will not miss it, believe me. First we need to get some pattern that could trigger this bounce, but we do not have any yet...

Good evening Sive, in the meantime Cable has developed new Low , just like almost each day of the last 9 trading days . It appears , like if he would be drilling himself through a strong area of support since last days . Usually the bounce is a reaction shortly after an impulse movement arrived at a S&R .
Is this assumption of mine also your experience or should I not make this statement ?

Is it recommendable to place a sellstop order below the support area ? Stop Loss above the area of support ? Or would you always wait for the bounce ? Many thanks in advance Best regards Lobo

 

[Sive Morten]

Is it recommendable to place a sellstop order below the support area ? Stop Loss above the area of support ? Or would you always wait for the bounce ?

IMO currently market stands very close to oversold and using stop entry order could be dangerous.