EUR/USD Daily Video, May 03, 2011

Sive Morten

Special Consultant to the FPA
Messages
18,559
Good morning,
Looks like market is building an energy again, hence we have to try estimate the direction of possible strong move. Here are some thoughts about it:




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.
 
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Timeframe

Good Day

I was wondering why my timeframes alway's look different than yours. I can never see the same patterns in your video's. I have my time zone set to GMT +1. What time frame are you working off of?

Thank you

Michael
 
Good Day

I was wondering why my timeframes alway's look different than yours. I can never see the same patterns in your video's. I have my time zone set to GMT +1. What time frame are you working off of?

Thank you

Michael

Hi Michael

This is not the question of timeframe. I use futures chart instead of spot.
That's the reason.
 
Don't you think it would be easier for the people watching if you used EUR/USD instead of the futures symbol? I can't even find it on the platform I use. MT4.

Michael
 
Don't you think it would be easier for the people watching if you used EUR/USD instead of the futures symbol? I can't even find it on the platform I use. MT4.

Michael

No, it will not be simplier for some reasons. Generally, because I use CQG software for technical analysis and it includes proprietary DiNapoli indicators and tools pack, that MT4 does not have.
Second, futures shows fixed close price, because data comes from exchange. On spot market we have as much close prices as FX brokers.
The same reason is for dealing with trading volume. On the spot - you do not see it, but on futures - do.
And last one - CQG much more comfortable to use as a drawing tool, compares to MT4.
If my quotes change a bit from yours - draw the same patterns and levels on your own chart. Because futures and spot swings are the same. The difference is in quotes level only.
 
Thank you for the explanation. I use think or swim for charting what symbol are you using? I don't really like MT4 for charting I just use it for orders.
 
Thank you for the explanation. I use think or swim for charting what symbol are you using? I don't really like MT4 for charting I just use it for orders.

Currently June contract is leading, so for combined trading session stands EUAM1
For Settlement only EUM1.
 
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