EUR/USD Daily Video, October 11, 2011

Sive Morten

Special Consultant to the FPA
Messages
13,183
Good morning,
market has achieved our short-term target at 1.37 area. Now, probably we can start to search for sell signals on intraday chart - let's discuss what levels to watch and what risks we should be aware of:



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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machetazo

Recruit
Messages
6
DRPO

Hello Sive,
yesterday we could see nice trust to the up on hourly timeframe. Then 3x3 was penetrated down, up and down within 9 bars. Can I consider it as valid DRPO please? Or is it failed DRPO because of monthly pivot which stands a few pips above last high and market wants to touch it?
your help is more than appreciated
and thank you very much for your sessions
ondrej
 

Russell Haynes

Recruit
Messages
2
Thanks Sive

Hi ...
I have just started using some new software "Track n Trace" and i was amazed ... shocked and slightly happy that my predictions (by using Track n Trace) with the Fib and Elliot wave gave similar predicions as you ...

you clearly have more knowledge than me ... but it was just nice to see we had a similar idea through our workings / maths

Russ
 

Sive Morten

Special Consultant to the FPA
Messages
13,183
Hello Sive,
yesterday we could see nice trust to the up on hourly timeframe. Then 3x3 was penetrated down, up and down within 9 bars. Can I consider it as valid DRPO please? Or is it failed DRPO because of monthly pivot which stands a few pips above last high and market wants to touch it?
your help is more than appreciated
and thank you very much for your sessions
ondrej
Hi Ondrej,
Well, we hardly can call it as DRPO, since too much consolidation between penetrations and tops are too different. DRPO should have almost similar and well-recognizable tops.
 
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