EUR/USD Daily Video, 19 July, 2016

[Sive Morten]

Good morning,

EUR precisely has completed our expectations on upside retracement and now is turning down again:








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.

 

[stelore]

Hi Sive,
thanks for your daily, great analysis...

What about SLs on EURUSD?
TX again
Stefano

 

[Sive Morten]

What about SLs on EURUSD?

Hi Stefano,
it depends on pattern that you trade. If your choice is minor grabbers on 4-hour chart, then, stop should be above the top of grabber candle. Butterfly - above major X-A swing of butterfly, as large as small one. Daily grabber - the same as on 4-hour chart...
It's a bit more difficult with trend trading, you need to place stop in area where trend will break in opposite direction. But currently we do not have any setups of this kind on EUR...