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EUR/USD Daily Video, May 26, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, May 26, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    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.
     
    #1 Sive Morten, May 26, 2011
    Lasted edited by : Aug 15, 2015
  2. CheeLee

    CheeLee Private

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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
     
  3. Sive Morten

    Sive Morten Special Consultant to the FPA

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

    CheeLee Private

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    Hi Sive,

    Thank you very much! :)

    Cheers,
    Chee Lee
     

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