EUR FX Video Daily, July 30, 2010

[Sive Morten]

so, basically in the last days we've been waiting for XOP 1.3133 to be reached and from which would be recommended a long term short position with tp 1.23?

or XOP 1.3133 would be just an area to watch for short term sell signals?

or both?

sorry if my question is stupid =)

Hi Lucas,
your question is not stupid and never hasitate to ask...
The main rule in all this staff - wait, when the market will show what it intends to do. Of cause, probably you can enter short without any confirmation, but this is much more risky. Better to wait for something - bearish engulfing, DRPO on lower time frames etc...

We are dealing with probability. For now I do not see any confirmation that market will go right to 1.2350. But odds suggest that market should at least bounce from 1.31-1.3130. That's important.
Second, I can't predict reversal point pips-to-pips. It's just imposible to do. And XOP it just a beacon, ok? Market have made a move on current week from 1.2750 to 1.3110 aprox. and we've suspect that and wrote about it in our weekly research in the beginning of the week.
So, what the conclusion - wait for some bearish signs around XOP area. When daily trends turns bearish, may be there we'll see some thrust down on lower time frames - we can enter short. Personally I will be waiting, until see some signs of bearish move starting...

Sive.

 

[PistolDave]

Sive,

Thanks for creating the market analysis video. It is very useful in understanding the price action, and it also helps me in my ability to use fib levels to forecast market turning points.

Although I have found that learning to be a profitable trader is a slow and difficult process, without the assistance of professional traders such as yourself it would be much more so. I do appreciate the effort you go to in order to help us.

PistolDave

 

[Ghazali]

TQ

Hi Sive,

Thanks alot for the video, please do not stop this effort. Its really helpful and gave me more understanding.

One more thing Sive, last time one of our member here posted some kind of Joe Dinapoli's customized indicator in .mq4 format(MT4 platform). I cant find the link. Can you help to show me the link where i can download it? Thus will give me much more better confirmation of understanding of your analysis, even-though the indicator actually not designed by Dinapoli. Hope im not burdening you and if u cant find that's ok brother Sive, take it easy.

Thanks in Advance.

Regards,
Ghazali

 

[Sive Morten]

Hi Sive,

Thanks alot for the video, please do not stop this effort. Its really helpful and gave me more understanding.

One more thing Sive, last time one of our member here posted some kind of Joe Dinapoli's customized indicator in .mq4 format(MT4 platform). I cant find the link. Can you help to show me the link where i can download it? Thus will give me much more better confirmation of understanding of your analysis, even-though the indicator actually not designed by Dinapoli. Hope im not burdening you and if u cant find that's ok brother Sive, take it easy.

Thanks in Advance.

Regards,
Ghazali

Hi, Ghazali,
As I remember this link was deleted because of law restriction to use DiNapoli indicators. Because it's not leagal. FPA does not support this issue unfortunately.

 

[Ghazali]

Thanks Anyway

Hi, Ghazali,
As I remember this link was deleted because of law restriction to use DiNapoli indicators. Because it's not leagal. FPA does not support this issue unfortunately.

Hi Sive,

Thanks for the reply, anyway I hope next week we would make some big pips as this week was soooo slower week for me. No trade at all in EURUSD and just make 60pips NZDUSD upon the dovish RBNZ rate statement.

 

[banuTT]

Dear Sive,
Thank you so much for your effort, I really benefit by your work. I prefer the ex format which is text. I have difficulty to understand because English is not my native language. So I can not follow the explanations and miss critical information. I is better to understand written explanations. I would be grateful if you could return back to ex version )

I wish you the best

 

[jotazet]

Tahnks Sive, great analysis

 

[Sive Morten]

Dear Sive,
Thank you so much for your effort, I really benefit by your work. I prefer the ex format which is text. I have difficulty to understand because English is not my native language. So I can not follow the explanations and miss critical information. I is better to understand written explanations. I would be grateful if you could return back to ex version )

I wish you the best

Hi, banuTT
As I've said in the e-mail notification - text is also available. Just read carefully my weekly thread day by day. From Tue to Fri I prepare almost the same updates as in video.