NZD/USD Daily Video, April 29, 2016

[Sive Morten]

Good morning,

NZD is aproaching to destination point on weekly chart, where 300+pips retracement could start. But situation is not as simple as it was 2 weeks ago. Sorry for this extended video, this is just result of expanation of all nuances that we have here:



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.

 

[stelore]

Thanks for your analysis Sive.....
I'm following GBPUSD, I would like to find a sell opportunity, after 1,618 butterfly will be reached,

Looking forward to hear from you about it....
Stefano

 

[fxsmall]

Hi Sive, You have been very clear, thanks so much as always the best teacher.....have a nice week end

 

[marians]

awesome

 

[Karpanov]

Hello Sive Morten Sir.,

This week's high and low were exactly the same as last week's high and low, so market couldn't make a higher high and I think it just didn't make a lower low because the week ended.. I mean that maybe the turning point has arrived and we could expect downward continuation next week, would very much appreciate your comments.

Thanks, have a nice weekend.
Bast regards,
k

 

[Sive Morten]

Hello Sive Morten Sir.,

This week's high and low were exactly the same as last week's high and low, so market couldn't make a higher high and I think it just didn't make a lower low because the week ended.. I mean that maybe the turning point has arrived and we could expect downward continuation next week, would very much appreciate your comments.

Thanks, have a nice weekend.
Bast regards,
k

Yes, I also think about it. Because if we will place AB=CD starting not from absolute low but from the point where real upside action has started - we will see that this weekly AB-CD has been completed already and we have now Double Top on 4-hour chart.
But, anyway, our former AB=CD target is a risk factor and initial stop probably should be placed above it. And this is a bit far. Or, try to find another pattern on lower time frame to place stop closer...

 

[Karpanov]

Yes, I also think about it. Because if we will place AB=CD starting not from absolute low but from the point where real upside action has started ...

Thank you for responding Sir.
That's what I meant, as you said on your video analysis Sir. and stops above 0.7163, I understand.
I am also considering friday's US bulls' strength could help push NZD down next week.

Best wishes,
k