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EUR/USD Daily Video, December 20, 2011

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Dec 20, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    there is no much price action, especially on daily time frame, bearish context holds well.
    Still, let's discuss, how market action could develop, based on intraday picture:




    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, Dec 20, 2011
    Lasted edited by : Aug 15, 2015
  2. Louis123321

    Louis123321 Corporal

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    Sive thank you so much for your great video analysis once again, you're helping so many people! Keep up the good work.

    Louis
     
  3. Don Quixote

    Don Quixote Private

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    Hi Sive, Sometimes you use the 127.2% Fibb Level, are you using this as an extension number like with the 61.8, 100, 161% (eg, ABCD=127%) or as a retracement number on series AB (0,38,50,61,100,127)?.

    Thanks in advance and thanks always for your videos..
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Don Quixote,
    Sorry for delay. Mostly I use it as extensions for harmonic patterns, particularly Butterflies. That is the same what you've called as "retracement".
    At the same time, I use them as potential areas if AB=CD does not look absolutely harmonic and some probability of futher move exists.
    But, 1.272 is minor number for me. 1.618 is more significant, especially with AB=CD patterns. Still it depends of particular context. For example, if daily trend is bearish, but you want to trade bullish AB=CD retracement on hourly time frame, and CD leg is much faster than AB - then probably is better to use just 1.272 as potential target but not 1.618. If daily trend is bullish - then probably you may apply 1.618.
    Always is necessary to watch on overall picture.
     

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