EUR/USD Daily Video, August 17, 2011

[Sive Morten]

Good morning,
we've guessed right with the first support area - market has reached it. Now we have to decide what to do next, since market now stands in triangle cosolidation. We can wait for breakout or enter inside it, but there is one trap exist here:




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.

 

[pius chidiebere]

pius chidiebere

Hi Sive Morten, Felix and friends you people have done a very great impact to my forex trading,before i normally receive those news from you guy but never trying to work by it or it was not that easy for me to understand it.But one day i say to myself what is the essences of this news since i do not understand it,but later i decide to go through it carefully and try to understand what the news is all about but right now i am a partaker of the news i now used it to trade and get some pips,i just wanna say big thanks to you peoples,you guys are great.

 

[Rfking2]

First off, your awesome Sive.

A quick question, since the breakdown broke all three levels and news is bashing the EU. Do you still think its wise to set a positional trade north? Or better to wait now?

Thanks

EDIT: I scalped the low with 2 trades preparing to close the first, questioning the second.

 

[Sive Morten]

Well, no levels have been broken. Market has pierced it just for 10 pips...
All as we've told in video. Nice intervention by SNB...

 

[DJG]

Thanks Sir for your analysis

regards
DG

 

[Sipi]

Hi Sive Master!

Thank You for your excellent daily ananlysis!
A have already had a great day
I wish You the same and all the best!