GBP/USD Daily Video, October 14, 2010

[Sive Morten]

Cable is continuing to form 3-Drive sell pattern with the target around 1.6070-1.6080.
Yesterday it has returned above weekly pivot point, so I think that we can enter Long on intraday retracement with target of 3-Drive Sell daily pattern





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.

 

[catpath]

catpath

how do I access your video presentation?

 

[danc]

spot on Sive..

Got it going up for abt 65 points am now short 1.648..Spot on ..Sive.. Thank you ..did well out of Cable yer day using same same..ext fibo and pivots..

 

[wade pugsley]

Sive,

What would be the target of the 3 drive pattern (downside target?)

Thanks

 

[Sive Morten]

Sive,

What would be the target of the 3 drive pattern (downside target?)

Thanks

Hi Wade,
Well, usually, the nearest target is a low between second and third drive, but sometimes 3-Drive sell is only a start up point for deeper retracement...

 

[Paul McConnell]

WOW!

What can I say Sive?
WOW!
I think conservative on downside target as $ is so suckish at the moment.
Regards,
Paul

 

[Jyotiprakash Pal]

Little video but loads of learning thanks again Sive Sir

 

[cosmos]

Hi Sive. I have a question about the EURUSD. I assume these same patterns apply to the longer time frames. On a monthly time frame on the EURUSD, could we be in a Bullish 3-drive pattern fom the high of 1.6037, with the achievement of 1.4575 as the C retracement and then possibly expect a decline to 127.2% at around 1.13 and then a strong buy after that? I am not sure what indicator(s) you use to determine if an A-B-C-D pattern might evolve into a 3-drive pattern. Thank you.

 

[Sive Morten]

Hi Sive. I have a question about the EURUSD. I assume these same patterns apply to the longer time frames. On a monthly time frame on the EURUSD, could we be in a Bullish 3-drive pattern fom the high of 1.6037, with the achievement of 1.4575 as the C retracement and then possibly expect a decline to 127.2% at around 1.13 and then a strong buy after that? I am not sure what indicator(s) you use to determine if an A-B-C-D pattern might evolve into a 3-drive pattern. Thank you.

Hi, Cosmos
It will be much better if you attach some chart...

But, you can look for some recent researches on EUR in Archive - It seems that I've looked at this scenario, that you're talking about.