EUR/USD Daily Video, May 03, 2012

[Sive Morten]

Good morning,
market has shown solid plunge down, but we still have to wait a bit - we need rally to sell, and confirmed daily bear trend:





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.

 

[double_a]

Dear Sive,

Really appreciate your views on the daily market. Please continue your great work!!

 

[geodepe]

Fib anomaly

Sive,
I enjoy your weekly updates.
Today however, I could not understand your fibs.
I drew them on my chart and show them here.
Why do mine look different from yours?
Thanks,
Geodepe.

 

[Sive Morten]

Sive,
I enjoy your weekly updates.
Today however, I could not understand your fibs.
I drew them on my chart and show them here.
Why do mine look different from yours?
Thanks,
Geodepe.

Hi Geodepe,
First is, because you apply different swing. I use total swing from high to most recent low, while you apply Fib tools not quite correct.
Try to pass trhough our Forex Military School, particularly Fib chapter. Second - donwnload Fib tree indicator - thread on top of my root page. It very useful.