EUR/USD Daily Video, May 26, 2011

Sive Morten

Special Consultant to the FPA
Messages
18,564
Good morning,
market is starting to show some bullish signs, although they are quite shallow right now.
So, let's take a look what to watch for and what we can do today:




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.
 
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Hi Sive,

Thank you very much for you great analysis.
My 3.618BC extension is at 1.4444 level which is almost 150 pips different than yours.
Below is the manual calculation. If I'm wrong, please correct me.
For H4 Crab Pattern:
Point B at 1.4127
Point C at 1.4006
361.8%BC extension = 1.4006 + 3.618*(1.4127-1.4006) = 1.4444

Thanks for you help!

Cheers,
Chee Lee
 
Hi Sive,

Thank you very much for you great analysis.
My 3.618BC extension is at 1.4444 level which is almost 150 pips different than yours.
Below is the manual calculation. If I'm wrong, please correct me.
For H4 Crab Pattern:
Point B at 1.4127
Point C at 1.4006
361.8%BC extension = 1.4006 + 3.618*(1.4127-1.4006) = 1.4444

Thanks for you help!

Cheers,
Chee Lee

Hi Chee Lee,
Extension should be calculated as 3.618* (B-A)+C. You've calculated it as C+3.618*(B-C)... ;)
 
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