EUR/USD Daily Video, August 03, 2011

[Sive Morten]

Good morning,
Market has reached target of AB-CD just today. Also it shows some bullish patterns on intraday charts, so we can count on retracement. Still bearish momentum is significant on daily time frame:




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.

 

[geoffrey]

Eur/usd Daily Analysis

Your analysis for EUR/USD for today just seems perfect as I closely been monitoring the market since monday and can wholly accept your predictions

 

[Geert Anthonis]

Future or spot?

Hi Sive,

Thanks for your reply a while back. I'm still struggling. One day i'm up the next down. But at least for the past two months there was no need to add extra funds to my trading account. Anyway a simple question about today's analysis.
You mentioned that the market hit 1.4236 which indeed it did around 14.45 local time (6.45 GMT). That however is on my trading platform that quotes the spot price. Did you change your quotes to spot without me noticing it? Because if 1.4236 was the future's market price that that target would be about 1.4271 on the spot market and that target was hit several times between yesterday's analysis and today's. Or is it due to certain market forces that at this particular time the prices on the future and spot market converge?Just want to be clear.

 

[Sive Morten]

Hi Sive,

Thanks for your reply a while back. I'm still struggling. One day i'm up the next down. But at least for the past two months there was no need to add extra funds to my trading account. Anyway a simple question about today's analysis.
You mentioned that the market hit 1.4236 which indeed it did around 14.45 local time (6.45 GMT). That however is on my trading platform that quotes the spot price. Did you change your quotes to spot without me noticing it? Because if 1.4236 was the future's market price that that target would be about 1.4271 on the spot market and that target was hit several times between yesterday's analysis and today's. Or is it due to certain market forces that at this particular time the prices on the future and spot market converge?Just want to be clear.

HI Geert,
no, I'm still using futures quotes. But September contract is lead now. Since till expiration there is less and less time left - futures price converge spot. Difference between them is not constant but contracts over time.
You should just find the same swings on your chart and build the same levels to estimate spot level

 

[fazli]

lower time frames

hi sive,....thanks for the cool analysis.

sive, this ABCD that you mentioned, is AB=CD? or it just a pattern in ramdom shape/measurement. can it be ABCDEF at a lower time frame, say at 15 minutes t/f.

last 3 weeks, i went to a free seminar and the speaker tell us that most of the forex trader trade at H1 time frame, and he also tell us that trading at a lower (m15) time frame is much more profitable. is it true?

i would like to hear your opinion on this. i hope i didnt cause any inconvenience to you. thank you.

 

[Sive Morten]

hi sive,....thanks for the cool analysis.

sive, this ABCD that you mentioned, is AB=CD? or it just a pattern in ramdom shape/measurement. can it be ABCDEF at a lower time frame, say at 15 minutes t/f.

last 3 weeks, i went to a free seminar and the speaker tell us that most of the forex trader trade at H1 time frame, and he also tell us that trading at a lower (m15) time frame is much more profitable. is it true?

i would like to hear your opinion on this. i hope i didnt cause any inconvenience to you. thank you.

Hi Fazli,
yes, ABCD means "AB=CD", probably I've made a typo...
Well, and has he told why 15-min trading is more profitable? I'm just interesting why he thinks so. The major rule tells that the lower time frame the more difficult to trade, since you have to think faster. Also this is very personal and depends on pshyche, mentality etc. I think that comparison of different time frame in terms of profitablility has no sense.
May be he has told that because this time frame faster and market creates signals more often - this is only reason how I can explain that.

 

[fazli]

Hi Fazli,
yes, ABCD means "AB=CD", probably I've made a typo...
Well, and has he told why 15-min trading is more profitable? I'm just interesting why he thinks so. The major rule tells that the lower time frame the more difficult to trade, since you have to think faster. Also this is very personal and depends on pshyche, mentality etc. I think that comparison of different time frame in terms of profitablility has no sense.
May be he has told that because this time frame faster and market creates signals more often - this is only reason how I can explain that.

hi sive,....he did told us that trading at 15-min or lower t/f is more profitable because there are plenty of trends to be trade, he also show to us 3 months track record between 1-min, 5-min, 15-min and 1-h trading and the differences is huge. 1 pip = usd 1 for all trade and 1-min trading beats all t/f in term of profit.

he also mentioned that trading at lower time frames below H1 is not easy, and many traders dont have the ability to do it the right way.

as for me, i'am happy trading at H1 with my amateur methods plus your precious analysis. thank you.