EUR/USD Daily Video, February 28, 2012

[Sive Morten]

Good morning,
market is forming something like bullish pennant on daily, so our major discussion today will be dedicated to intraday patterns:





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.

 

[Sylverayda]

Thank you. I see that happenng right now.
Your scenarios are very accurate. I follow you every day and bought DiNapoli book to learn sth. new.
Big respect from Poland here.

 

[samfx]

Hi Sive, thank you for the analysis.

I took a long trade last night following your analysis on the weekend and I am up 90 pips.

I entered the trade at "1.3371" from the pivot point level and 0.382 Fib support level after the first retrace down, so far I locked in profit of 90 pips on half my position.

What would be your suggestion at this time, to move stop loss to break-even or preferably to set the stop below the ABCD pattern that might happened and add to my position at the "D" point of the pattern if occur.

Since market moved higher that 0.618 retracement from the big swing down and market is still trading above the 0.618 level. I see a more probability of a move to the upside.

Please find my chart attached.
Your feedback is very much appreciated.