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EUR/USD Daily Video, August 23, 2011

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Aug 23, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    Looks like market will stand in tight range till 25th. So, today we will focus on intraday trading again. Particularly, 1.4325 area is interesting:




    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.
     
    #1 Sive Morten, Aug 23, 2011
    Lasted edited by : Aug 15, 2015
  2. Fxsniper0703

    Fxsniper0703 Recruit

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    range

    Hi, I'm a newbie here, may I know how do you define that market is currently having a tight ranging, I always get confuse with this market, tight ranging, wide ranging, trending, whipsaw, how do we know when they will occur and when they end? any way to trade it or avoid it? I heard that some people they could avoid whipsaw by change to larger time frame, what the purpose they do that? And why now hv tight ranging, we need to trade intraday, please guide to me, I hv no idea with all this and always faked out by all this markets term. Thanks...
     
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Sniper,
    I suggest you to start with our Forex Military School here:
    Forex Military School | Complete Forex Education by a Pro Banker - Forex Peace Army Forum
    Concerning today price action, you may see on daily time frame that market for 7 days stands inside the range of one bar. This is trading range. Since market goes nowhere, hence it stands indecision. But range could not last forever. 25th of August will be significant testimony of Ben Bernanke about possible QE III program. It could shake market thus, range could be broken...
     
  4. Sipi

    Sipi Private, 1st Class

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    Gartley

    Hi Sive!

    What level could erase this gartley pattern, considering current upward move?

    Thx! Sipi
     
  5. Damian1987

    Damian1987 Corporal

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    Hey Sipi, In my own personal opinion garley "222" buy has been erased already. Once the upper move cleared the high at 1,4433 I think you cannot consider that possibility anymore.
    The good news is that possible 4-hour butterfly sell is forming. It already reached 1,27 expansion. I am waiting for a sell pattern on 5-min chart, maybe DRPO, although 1,68 expansion of butterfly could be possible since it makes agreement with a large .618 AB=CD move at 1,4414 and previous high at 1,4416. This is my chart....anyways wait for Sive's confirmation, he's the master.
     

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    #5 Damian1987, Aug 23, 2011
    Last edited: Aug 23, 2011
  6. Sipi

    Sipi Private, 1st Class

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    Yes, it is clear now.
    I have closed my long position, and now wait for ZEW index and possible short signals, as you do. ;)
     
  7. Soji4x

    Soji4x Private

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    Hi Sive,
    Can we just place a pending order to buy at 1.4325?
     
  8. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Guys,
    Damian has said everything correct. I just want to correct a bit - 222 has not been cancelled, it works. Market just has not shown so deep retracement as I expected in video. Retracement was just 0.5. BTW, since retracement was shallow, it could lead to 1.618 Butterfly

    Hi Soji,
    I guess not, since market has not reached that level and accelerated to the upside.
     
  9. forexboom

    forexboom Private

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    Interested in charting software

    Hi Damian,

    may i know what is the charting software you are using, it seems pretty good!

    Damiano
     
  10. Damian1987

    Damian1987 Corporal

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    Hey Mate!

    I use GFT dealbook 360 platform + subscription to Dinapoli's suite of indicators. If you have any other doubts regarding this subject just private-message me , thanks!
     

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