EUR/USD Daily Video, May 15, 2012

[Sive Morten]

Good morning,
finally market is showing its intentions - they are downward, by some thoughts. So, currently we should wait nearest rally to sell:





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.

 

[Sazu]

Thank you for the comments Sive as always greatly appreciated. I have a question about determining when to give up on a retracement occurring. Since the time you posted this video the market has moved downward some 60 points and still shows no sign of reversal or retracement. Is it safe to assume that after 50 or 60 points of movement in the original direction that the retracement is not going to happen? For me the answer is yes since the market has moved another 15 points down while I was writing this

Thanks
Sazu

 

[Sive Morten]

Thank you for the comments Sive as always greatly appreciated. I have a question about determining when to give up on a retracement occurring. Since the time you posted this video the market has moved downward some 60 points and still shows no sign of reversal or retracement. Is it safe to assume that after 50 or 60 points of movement in the original direction that the retracement is not going to happen? For me the answer is yes since the market has moved another 15 points down while I was writing this

Thanks
Sazu

Hi Sazu,
with retracement you never know for 100% how it will be and when. One thing that you can predict is where support or resistance and how strong it is. This is some kind of passive trading - all that you can do is wait for retracement and act when it will happen.

 

[Sazu]

Hey Sive,
Many thanks. I have been second guessing the Retracements by using the Stochastic at 7, 14, 3 and basing everything on the 60 M TF. For the most part I have been guessing pretty accurately and on a 20 trade test I have been wrong maybe 4 times in predicting price movement. The one thing I am still unsure of is how to really get a good idea of determining the strength of the market at that time, I am still trying to understand how to measure the volume and determine who is causing what to move.

Anyway, I will continue pressing forward and that you again for teaching me so very much!

Warmest regards,
Sazu