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EUR/USD Daily Video, March 10, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Mar 10, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    our daily context for bullish B&B trade is still valid, but there are some additional details have appeared, that struggle me to wait at least till 1.3830 area:




    If market will break through 1.3830 - 1.618 target of Butterfly at 1.3800 area. This level also contains 3/8 Fib support and weekly pivot support. That's the next area to watch for.


    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, Mar 10, 2011
    Lasted edited by : Aug 15, 2015
  2. ronyboy

    ronyboy Private

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    butterfly

    Hi Sive,

    The Butterfly you described in video was detected by indicator on 15M and 30M time frames only.
    What is the entry tactic in this situation? Do we need to wait until MACD cross on 1H time frame or work with 30M time frame?

    Thanks
    Ronyboy
     

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    #2 ronyboy, Mar 10, 2011
    Last edited: Mar 10, 2011
  3. LaurensDeGraff

    LaurensDeGraff Private

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    To: Sive

    Your are true genius! I see pattern at 1.38 area and this AM you say to all followers: "wait at least till 1.3830 area!".

    Because now I make 4K ( pips ):embarrassed:
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Rony,
    It depends on what your are trading. If you are trading only butterfly, then agressive tactic will be enter at completion point (1.618 target) with very tight stop. Or, conservative tactics, as you've said, wait for 30-min trend will confirm bullish and enter on shallow retracement. In this case you may use as 15-min as 30 min. There is no big difference in that context. The time frame mostly will depend on your preferences. Time frame is important when you trade trend. But here you trade some kind of pattern.

    If you're trading in context of daily B&B trade (so as in video), then, butterfly pattern is just a confirmation daily Confluence support area. In this case you should wait, when hourly trend will turn bullish and enter on shallow retracement.
     
  5. ronyboy

    ronyboy Private

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    Thanks for clarifications Sive

    Currently I am only studying patterns to see how it would work on intraday training, 10-20 pips a day. Need increased my depo big for day raiding. Now I am little, damaged rusty boat. :embarrassed:
    Day trading is for big ships. :D


    P.S. looks like Buterfly adjusted it self a little. :nerd:
     

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