EUR/USD Daily Video, February 05 2013

[Sive Morten]

Good morning,
market has formed huge bearish engulfing pattern, so, probably we should be ready for deeper retracement:





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.

 

[nduru22]

Hello Sive,

Thank you for the video today and all the others because they have been helpful to me since i started following your thread.

I am fairly new to forex and want to focus more on the technical aspect of it. I am practicing to be an intraday trader, and I look for opportunities on the 1 hour timeframe. I although like to look at the 4 hour and the daily charts just to look for any bigger patterns that are forming but my analysis on them is not as heavy as it is on the 1 hour.

I however have gotten major losses on my demo and I think it is because of focusing on the 1 hour so much. How crucial is the 4hour and the daily analysis to me as an intraday trader? and which one among the three time frames should I put more focus on so that I look for opportunities?


Nduru

 

[FreddyFX]

Learn to read what the charts are telling you all the time and forget your own emotions.