EUR/USD Daily Video, December 08, 2010

[Sive Morten]

Good morning,
let's shift back to EUR FX, besides, the price action is almost the same as on CHF. I've said that market still could show AB-CD retracement, so that has happened.
And market currently stays at key level to watch for:




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.

 

[pckeys]

BAT ?

Hi Sive , great stuff as usual...
Looking at this current day on both the 1 hr and 4 hr .. do you happen to see a bat forming a deeper move down than the 100 expansion of the gartley?
It looks picture perfect ..

cheers
Peter

 

[Sive Morten]

Hi Sive , great stuff as usual...
Looking at this current day on both the 1 hr and 4 hr .. do you happen to see a bat forming a deeper move down than the 100 expansion of the gartley?
It looks picture perfect ..

cheers
Peter

Hi, Peter,
Well, I like to have a solid retracement prior to butterfly in opposite direction to it. Here we do not have it. That's why, personally, I treat current move only as AB-CD. But still, we can't exclude the possibility that it could reach 1.27 of AB or even 1.618, as I've said.
The Bat, that you've describled has too long first move and too shallow first retarcement. Bat should have at least 0.618 retracement of first move up. Better if it will be 0.786.

 

[Joh]

re the E/U

Thank you Sive -most appreciated joh

 

[erich]

thanks

many thanks to you Sive, I will follow your advice, to keep it as simple as possible;
Erich

 

[ochills]

tha

thanks Sive.Thanks. U are of great help and ur analysis is wonderful.
thanks I av finally got the BooK Of Joe Dinapoli levels.

 

[Patt]

AB-CD retracement is different from elliott wave A-B-C ?

Anybody can explain this to me?

Thanks?

 

[erich]

hi Patt,
in EW (Elliot-Wave-Theory) you have not the point A and so on, but it is the name of the whole wave;
so normally what you describe as AB is in EW the wave A, the point BC the wave B and CD is the wave C;
lg, Erich