EUR/USD Daily Video, June 16, 2011

Sive Morten

Special Consultant to the FPA
Messages
18,564
Good morning,
we've got strong clarification from the market yesterday. Although bearish sentiment is strong currently, market stands at support, so we need some pullback to enter. Still this pullback should not be deep:



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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Is there EURUSD GBPUSD bullish Gartley on H4?

Regards
Lang

Hi Lang.
Yes, this is "222". But CD leg is much faster than AB. So, I'm afraid that CD could be extended one to 1.618. Although some pullback could happen
 
Hi Sive,
i want to show you this picture, is this double repo sell on nzdusd ?

thanks
 

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Hi Sive,
i want to show you this picture, is this double repo sell on nzdusd ?

thanks

To me it looks more as DRPO Look-alike. Because:
1. Thrust is not solid;
2. Consolidation between tops too long, compares to thrust;
3. during first penetration market has reached 0.382 Fib support. This is not good.
Positive sign is that second top is higher.
you had to enter short at the small bar below 3x3 during second penetration.
This DRPO has already hit the target. Usual minimum target is 1.0 extension from ABC pattern of the tops
 
Hi Sive i asked yesterday that you should please give me a list of books that i can read to become a good Forex Trader,sorry to bother you.Thanks in advance.
 
Hi Sive i asked yesterday that you should please give me a list of books that i can read to become a good Forex Trader,sorry to bother you.Thanks in advance.

Yes, sorry for delay, a bit lack of time...

All that I can recommend to you is only that I've read by myself and that become suitable for me (because I've read a lot that do not use currently).

1. DiNapoli "Trading with DiNapoli levels"
2. L.Jouflas, L. Pessavento "Trade what you see"

This books I find useful personally for me.
But you should understand, that trading style is very personal thing. You never know in advance what will be perfect particularly for you. May be it will be Elliot wave theory, may be Fractals, may be classic Technical analysis, Fibonacci, Harmonic patterns.. candlelsticks...
Don't look at these books as on final substance. You may try them, but there is no waranty that they will appear suitable for you.
 
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