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EUR/USD Daily Video, June 12, 2012

Discussion in 'Sive Morten- Currencies, Gold, Bitcoin Daily Video' started by Sive Morten, Jun 12, 2012.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    market has accomplished required minimum and looks like should continue move down. But unfortunately we have no clear signs yet - just some hints. While we will wait for that, on hourly TF there is nice pattern could appear:





    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, Jun 12, 2012
    Lasted edited by : Aug 15, 2015
  2. davedubai

    davedubai Private, 1st Class

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    4 hrs chart

    Hi Thanks for you detailed analysis , I have two questions ..

    1. 4hrs chart showing Megaphone pattern and also three consecutive higher Highs and Higher lows sustained as of now . does it not mean a new high before continue LOng term DT ?

    2. On hourly basis i see now its drpo buy triggered and what is its minimum target? usually the recently achieved top right ?

    I still see a resistance at 1.2517 area .. however if it sustains above what next ?

    Please highlight n oblige

    Thanks
     
    #2 davedubai, Jun 12, 2012
    Lasted edited by : Aug 15, 2015
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Dave,
    Yes, probably it could be treated as Megafone (that is the same as broadening triangle), but it's a bit skewed. This is not always continuation pattern. Current price action makes me doubt about upward continuation.
    Minimum target of DRPO is 1.0 extension of AB=CD from its bottoms. After it will hit it, you can manage your position - take profit or apply some protection, with hope that market will procede a bit higher. For instance, hold long till market will not move below 3x3.
     
  4. minimax

    minimax 2nd Lieutenant

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    Hi,

    Sive thank you again for your contributions, I have learned a lot from you and I am stil learning. I must take more attention especially to 3x3.

    Now I see eurusd stil short but have entered long @ 1,24503 at 16:31, closed 70% and SL = BE. The situation is very unclear and this move down can be either C leg of Flat correction already done or this is just the first leg of bigger C leg and having irregular correction. We will see soon with developing of this latest up move and if manage to go higher at all.

    Good trading to all!


    EURUSD_06122012.
     

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