EUR/USD Daily Video, November 22, 2017

[Sive Morten]

Good morning,

EUR shows signs of possible upward continuation. But still, we need to be prepared for another leg down first:



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.

 

[olaaka carlos]

Thank you Sive indeed observation is required.

 

[ward133]

Excellent

 

[olaaka carlos]

Sive, Yesterday on the 1TF & 4TF after breaking the flag, from 11:00am to 2:00pm there was bear retracement which closed deep into support area.Then the upward move started developing which became mature and closed higher by close day with rhetoric from FOMC member. Now i went through Dinapoli's book for about 3 hours last night looking for an explanation on such move but i was unable to come up with a conclusive answer. kindly help me understand how to read such move if you understand what i am saying. This can help in the future. I have seen such a move before and i have ruled it as failed breakout - retest - continuation failure when it deeps past the support.

 

[Sive Morten]

Sive, Yesterday on the 1TF & 4TF after breaking the flag, from 11:00am to 2:00pm there was bear retracement which closed deep into support area.Then the upward move started developing which became mature and closed higher by close day with rhetoric from FOMC member. Now i went through Dinapoli's book for about 3 hours last night looking for an explanation on such move but i was unable to come up with a conclusive answer. kindly help me understand how to read such move if you understand what i am saying. This can help in the future. I have seen such a move before and i have ruled it as failed breakout - retest - continuation failure when it deeps past the support.

Hi Olaaka, could you please attach chart with this episode? It will be simplier to understand...
One of the possible answers I've described couple days ago, when I've spoken about AB-CD inside the flag - reaching of "D" point was deep penetration of K-support. This is advanced moment from DiNapoli book - "markets could pierce strong areas to reach objective points of AB-CD's"
May be in your case something of this sort has happened...