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EUR/USD Daily Video, March 23, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Mar 23, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    Looks like retracement has started. 1.4050 area is still very important because market behavior around it could clarify further market move.
    If you intraday trader - then possibly you can make B&B Buy trade on 4-hour chart:




    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 23, 2011
    Lasted edited by : Aug 15, 2015
  2. Venelin

    Venelin Master Sergeant

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    Thanks Sive! B&B worked to the pip!
     
  3. FPAK47

    FPAK47 Recruit

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    Great Analysis, Thanks.
     
  4. Dollar-Reaper

    Dollar-Reaper Private, 1st Class

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    4 Hour Chart of 23.03.2011

    Dear Sive,

    Could you possibly explain to me why my Fibonacci 1.618 expansion on the A,B,C pattern in your illustration on the 4H chart on 23rd March’s video is almost a 100 pips less than yours.

    You’re "A" was 1.3741, "B" was 1.3984 and "C" was 1.3836. Logically the expansion would be based on the difference between "A" and "B" which in this instance is 243 pips (1.3984 - 1.3741) multiplied by 1.618 is 393 pips which if I add that to "A" would give me a 1.618 expansion of 1.4134 not 1.4229.

    Similarly if I take the difference between A and B (243 pips) and multiply it by .618 and add it to "B", I should also arrive at the 1.618 expansion, which I do 1.4134.

    If I use the Fibonacci tool on Meta Trader it also gives me 1.4134

    Is there a difference in a DeNappoli Fid Tool and the standard Meta Trader tools, could that be the reason?

    Kind regards
    :err:
     
  5. mariff

    mariff Recruit

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    gud job...thanks sive :)
     
  6. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hello,
    Any extension should count from C point and not from A or B:
    (B-A)*1.618 + C = 1.4229
    Hope it helps
     
  7. Dollar-Reaper

    Dollar-Reaper Private, 1st Class

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    Thank you Sive,

    I will take it up with Meta Trader.

    Kind regards.
    DR
     

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