EUR/USD Daily Video, September 06, 2011

[Sive Morten]

Good morning,
EUR is showing strong move down and we need somehow to come aboard, since our minimum target for that move is 1.38. So, currently we see some hints that retracement could start. It will be perfect if it will be as B&B "Sell" trade:




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.

 

[grahamFPA]

Thanks Sive

A quick thank you Sive.

I am currently working my way through Joe's book "Trading with DiNapoli Levels" and your analysis is really helping me understand his priciples. The examples in the book are not that easy to see but seeing them develop on live charts really does help to re-inforce Joe's methods.

I would strongly recommend Joe's book to any serious trader and I feel that his methods are the "safest" entries I have come accross.

Thanks again for your daily reports.

Graham

 

[josiahemmy]

06_09_2011

Commander,

Recent price actions shows that market has cleared the C=point (1.4054) for that "greater AB=CD" pattern on the daily time frame. With the strong area of resistance around the 1.4191 and 14200 which we expect market to retrace to, can we extend our C point to the most recent lows 1.4038 and expect an AB=CD buy (i.e A=1.3837, B=1.4548 and C=1.4038) because I strongly feel that market came as low as 1.4038 to grab the stops placed on or below 1.4054.

Is it still possible to have a deeper retracement to the upside?

Or Market could still after the strong area of resistance 1.4200 area come as low as closing the past lows 1.3837.

Thank you Commander for your quick responses to your Pipruits, the reason why I ask the questions is because I really look forward to learning and becoming like you in forex analysis. Thumbs up commander.

 

[Sive Morten]

Commander,

Recent price actions shows that market has cleared the C=point (1.4054) for that "greater AB=CD" pattern on the daily time frame. With the strong area of resistance around the 1.4191 and 14200 which we expect market to retrace to, can we extend our C point to the most recent lows 1.4038 and expect an AB=CD buy (i.e A=1.3837, B=1.4548 and C=1.4038) because I strongly feel that market came as low as 1.4038 to grab the stops placed on or below 1.4054.

Is it still possible to have a deeper retracement to the upside?

Or Market could still after the strong area of resistance 1.4200 area come as low as closing the past lows 1.3837.

Thank you Commander for your quick responses to your Pipruits, the reason why I ask the questions is because I really look forward to learning and becoming like you in forex analysis. Thumbs up commander.

Hi, Josiahemmy
Well, after SNB has said that it will hold 1.2 per EUR - anything could happen.
also SNB has said that it's ready to buy any currency with unlimited amount. This is solid statement, is not it?
But, personally, I think that it could turn as with JPY interventions - market just swallowed it. Situation in economy has not changed -so, it realily it could become great possibilities to enter

 

[Damian1987]

OMG! SNB!!! Are we still looking forward being short at a retracement?

 

[Sive Morten]

OMG! SNB!!! Are we still looking forward being short at a retracement?

This will be much riskier, than initially, my friend. But possibly it makes sense to try... Just not be too fascinating with that...

 

[asif faryad]

Thank you

Thanks Sive

Its great your anyalis as always and also we have some very colourful members which make it also great!!!

Have a good day and look forward to hearing from you tomorrow.

Asif

 

[josiahemmy]

Hi, Josiahemmy
Well, after SNB has said that it will hold 1.2 per EUR - anything could happen.
also SNB has said that it's ready to buy any currency with unlimited amount. This is solid statement, is not it?
But, personally, I think that it could turn as with JPY interventions - market just swallowed it. Situation in economy has not changed -so, it realily it could become great possibilities to enter

Thanks commander for the response.
Currently, Market has hit the strong area of resistance with 3 long candle bars on the hourly chart close to 1.4200_ 1.4245 area, but has turn down to the retracement. A fibonacci support level drawn from the low 1.4044 to the high 1.4247, shows the 0.382 level currently supports the market, and that area to looks strong because on the 30min chart, the 1.4160 area looks like an agreement because from the 1.4044 swing low to 1.4247 swing high, has a 0.382 support of 1.4170 and from the 1.4106 swing low the that 1.4247 swing high, has a 0.618 support of 1.4160.

Could this area be a strong agreement, or because of the 30min time frame, its not really valid?

Or from your analysis today, since market has reached that area, should we just have a short position placing stops just above that strong area of resistance.

Thanks Commander for your patience with me.

 

[Sive Morten]

Thanks commander for the response.
Currently, Market has hit the strong area of resistance with 3 long candle bars on the hourly chart close to 1.4200_ 1.4245 area, but has turn down to the retracement. A fibonacci support level drawn from the low 1.4044 to the high 1.4247, shows the 0.382 level currently supports the market, and that area to looks strong because on the 30min chart, the 1.4160 area looks like an agreement because from the 1.4044 swing low to 1.4247 swing high, has a 0.382 support of 1.4170 and from the 1.4106 swing low the that 1.4247 swing high, has a 0.618 support of 1.4160.

Could this area be a strong agreement, or because of the 30min time frame, its not really valid?

Or from your analysis today, since market has reached that area, should we just have a short position placing stops just above that strong area of resistance.

Thanks Commander for your patience with me.

Well, currenty it is difficult to say. Our context is still valid - market does not continue move up, probably it is possible to try enter short with nearest retracement up at 60 min chart. I suspect that price will erase this trhust bar up.

 

[davedubai]

BB sell

Good morning,
EUR is showing strong move down and we need somehow to come aboard, since our minimum target for that move is 1.38. So, currently we see some hints that retracement could start. It will be perfect if it will be as B&B "Sell" trade:




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.

Hello Sive ,

With reference to your Video market did not hit weekly pivot at 1.4305 but returned to 1.42ish area falling short by about 15 pips for weekly pivot. This alarms me that may be in NY session that may be achieved. I am short at 1.4224 and have now placed my stoploss at breakeven I can not see any other option for SL order I seek to ask you what can be low for limit order ? at present I have kept 1.4100 as 1.4095 is confluence support and market may jump again on NY open I am already at profit of 90+ pips but look forward to trade for longer time frame.

Thanks