EUR/USD Daily Video, January 04, 2011

Sive Morten

Special Consultant to the FPA
Messages
18,564
Good morning,
situation on EUR becomes hotter. Although market didn't show DRPO Sell, and has not reached 1.3440 area yet, I think It should to in nearest future.
We have some targets and strong resistances that coincides in tight range,
So, look for sell signals around 1.3470, stop could be placed above 1.3540 area:





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.
 
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retest?

Dear Sive,

We only got to 1.3435
and my positions didn't open (set at 1.3450 and higher ...)

Will, in your opinion, this level 1.3450 - 1.3470 be retested
or are we on the way down from now?

with kind regards,

AdamFX42
 
Dear Sive,

We only got to 1.3435
and my positions didn't open (set at 1.3450 and higher ...)

Will, in your opinion, this level 1.3450 - 1.3470 be retested
or are we on the way down from now?

with kind regards,

AdamFX42

Well, current move on market is not very strong and personally, I do not feel myself comfortable, when profit objective is just above the market. Odds suggest that usually market reaches the target before turning.
 
Thanks

Thank you Sive for the reply,

I was inclined to follow that train of thought,

and it's great to get acknowledgement from the master ;)

But seriously, it is difficult when you don't have your experience - like me,
and tend to make mistakes ..

like yesterday, I jumped in too soon - when we went (ever so slightly) below 1.3280 barrier,
only to see the market go back up to 1.3380 almost immediately ..

But I will be a good boy from now on - hold my positions, and wait for it.

It is so great to be able to partake in your accumulated wisdom,

thanks again, and with respect,

AdamFX42


p.s Do you like red wine?

If you keep making me money, I will have to try and get a nice bottle to you
:D
 
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Red Wine....

"AdamFX42


p.s Do you like red wine?
If you keep making me money, I will have to try and get a nice bottle to you"

I'm right with you on his one Adam......perhaps a bold Aussie Shiraz???

I hope to meet the great man in person one day so I can shake his hand and fill his arms with wine.

Thanks for the education Sive....and good luck to everyone in 2011.

John.
 
Well, current move on market is not very strong and personally, I do not feel myself comfortable, when profit objective is just above the market. Odds suggest that usually market reaches the target before turning.

Hi Sive, thanks for your analysis, I was so looking forward to your E/U video this morning, now that euro has make lower low, will the 13450-70 target still valid ? Thank you so much!

best regards from the east
 
Hi so its still a target 3450-70 this week based on the current move down below 3250?

Ed
 
Well, I too am interested in your view on the current situation, Sive. The 1.3285 is clearly broken to the downside and is showing resistance now. The euro doesn't show much strength. On the other hand, it is not going really fast.

Thanks for your great insights!!! I am a follower.
 
Trade context

Hello Mr. Sive!
In one of your past videos you told us to close the trade if the context had changed. Do you think is the case with today AUD trade? It just went up for a few pips to accomplish the AB=CD signal but then it turned under the 0.382 resistance.
Thank you verry much for the great and proffesional job that you are doing!
 
Well, I too am interested in your view on the current situation, Sive. The 1.3285 is clearly broken to the downside and is showing resistance now. The euro doesn't show much strength. On the other hand, it is not going really fast.

Thanks for your great insights!!! I am a follower.

Yes, market has not accomplished 1.3440 target absolutely. As we've discussed - if market will break 1.3270 area to the downside - this could lead to 1.2840 area. So, I think that the retracement from recent swing down could be used for short position.
I'm sorry, guys, but I can't predict reverse points pips-to-pips. ;)

Hello Mr. Sive!
In one of your past videos you told us to close the trade if the context had changed. Do you think is the case with today AUD trade? It just went up for a few pips to accomplish the AB=CD signal but then it turned under the 0.382 resistance.
Thank you verry much for the great and proffesional job that you are doing!

Well, B&B is very tricky pattern, because it's difficult to say precisely, where market should turn. As pevious bullish signals have been erased, I think that better way to enter in this trade is to wait until solid thrust on hourly time frame and enter on the retracement from it. Currently I do not see it.
 
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