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AUD/USD Daily Video, November 26, 2010

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Nov 26, 2010.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    Our trading plan on EUR has not changes, let's see, will W&R appear on EUR or not. If it will, possibly we can try to Buy, if not - don't be long.

    So, today I shift to AUD, because it has H&S pattern on daily time frame. But to trade H&S is not so simple as it seems on the first view. I decide to give you some advanced analysis on H&S pattern, what I usually look at with any H&S pattern:




    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.
     
    #1 Sive Morten, Nov 26, 2010
    Lasted edited by : Aug 15, 2015
  2. pragmatic

    pragmatic Corporal

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    Eurusd

    Thank you Sive for the lesson about H&S!
    Now about EUR, I think I lack the experience to say if the price action is a W&R. What is your opinion on that?
    Thank you!
     
  3. ochills

    ochills Master Sergeant

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    Good day Sir,
    honestly you a professional trader
    thanks for your great and in dept analysis.
     
  4. pragmatic

    pragmatic Corporal

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    Eurusd

    Thank you Sive for the lesson about H&S!
    Now about EUR, I think I lack the experience to say if the price action is a W&R. What is your opinion on that?
    Thank you!
     
  5. osasyankee

    osasyankee Private, 1st Class

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    WR or W&R: Wash and Rinse - specific price behavior, that usually includes stop licking or short-term breakout process above/below resistance/support areas. Appearing of W&R increases probability of price moving in opposite direction. Just keep on observing in the next 30mins. Chk ur 15M chart for possible breakout. Hope this helps
     
  6. gammel

    gammel Private, 1st Class

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    what about the pivot points??

    Dear Steve .. first of all i want to thank you so much for your analysis.. its like really someone is saying something which is making sence and not bla blaing around.. and teaching you simple technical analysis...

    i bought myself the de napoli book and i am reading it..

    when i look at your analysis you are using the pivot points.. i wanted to ask you where we should take the pivot points from ..because the when we take alpari pivot points the sunday daily bar is not there but on most other broker they have a sunday bar.. which one would you prefer... and then i would like to know if you would recomend the book from de napoli .??

    One last thing lik right now you are telling us to watch for a buy signal . ... but what if the market ignores the points and takes them out i mean should we go short or you wouldnt recoment it...?? you know i mean what about the other scenario???you never tell us what do watch for if it doesnt happen?? why is there a reason?? maybe to dangourous to go short because of oversold levels close to price ??

    please reply. you have replyed me before and thats so great..

    thanks..
    PS: greeting from Persia , we all follow your analysis here..
     
  7. Sive Morten

    Sive Morten Special Consultant to the FPA

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    GUYS THIS IS NOT A W&R ON EUR, DON"T BE LONG


    Hi Gammel,
    Let's go step by step.
    1. About DiNapoli and Pivot points. Pivots and some Fib levels (0.5, 0.786, .088), so as 1.272 expansion and patterns like Butterfly are beyond the scope of DiNapoli book. I do not follow Joe's work absolutely, although I take the most part of it.
    About Pivots - in Glossary there are formulas for calculation. You can do it in excel spreadsheet manually in the beginning of the week.

    2. Well, if market breaks some imortant level that I've recommended to watch for buy signals and they didn't appear there, well, it means that market weaker that we think. In this case you should trade your own trade plan. If you do not know - wait for my trading plan for next day.
    But ok, I will try to get more scenarios in both cases.
     
  8. pragmatic

    pragmatic Corporal

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    Pattern recognition

    Thank you for your help! I know what the W&R meens, I gues I can't recognize such price action on the chart. How did you know that it would take another 30 min. to call it a W&R or not? What time frame should I use?
    Good trading!
     
  9. gammel

    gammel Private, 1st Class

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    Thanks a lot steve.. i wanted to ask you if you could put the excell sheet into the forum because i couldnt find it on the glossary...

    and thanks again for your analysis...

    one more question..about.. the entry.. why should we wait.. till the buysignal is confirmed.. i mean couldnt we just try to buy with small lotsize and a bigger stop... i mean because of the prozentage of winning trades..

    And right now do we have a doupble rep in the 15min?
     
  10. 4x4Ever

    4x4Ever Private, 1st Class

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    Thank You So Much! :eek:)

    Hello Mr. Morten. I just wanted to give you a great big thanks! You truly are a God send. Your analysis is spot on and your explanation of things I find very easy to understand. Thank you for that. It's funny that I have been around this forum since the start of the year (and made some nice losses then lol) but it hasn't been until this past month that I've started watching your videos and listening to your analysis. Well I won't make that mistake again. ;o)

    Once again thank you for an amazing week. Because of your analysis I was able to pickup around 450-500 pips this week (and I missed some lol) So if ever our paths cross just remember I owe you my friend. I'll buy you a drink, as many as you want haha. Take care, God Bless and have yourself a great weekend. See you next week, where will see if we do get that push back up. Right now it don't seem to be going anywhere.

    Best Regards,
    Markus
     

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