EUR/USD Daily Video, December 08, 2010

Sive Morten

Special Consultant to the FPA
Messages
12,727
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.
 
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pckeys

Private
Messages
12
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
 

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Sive Morten

Special Consultant to the FPA
Messages
12,727
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.
 

erich

Private, 1st Class
Messages
56
thanks

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

ochills

Master Sergeant
Messages
278
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

Recruit
Messages
8
AB-CD retracement is different from elliott wave A-B-C ?

Anybody can explain this to me?

Thanks?
 

erich

Private, 1st Class
Messages
56
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
 
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