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EUR/USD Daily Video, October 18, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Oct 18, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    market gives us nice opportunity to enter short with relatively small risk and excellent risk/reward ratio:








    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, Oct 18, 2011
    Lasted edited by : Aug 15, 2015
  2. josiahemmy

    josiahemmy Private

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    18_10_2011

    Dear Commander,

    Great analysis as usual. I strongly feel that the 0.382 resistance is ideal to enter short from, because if you take note of the thrust down on the hourly chart, about 3 very strong bearish bars had developed, it might be a little hard for current price action to have an momentum back to the 1.3843 area.

    Then I had short a position yesterday, when I found out that market had a breakout from that trend line on the 4hour timeframe. I started drawing the trendline from the lows of 1.3241 and market had a breakout from 1.3809. Though I didnt know where to place my TP (target). Can I use the 1.000 (1.3595) Fib extension on the Hourly time frame's AB=CD pattern you spoke about in the video?

    Thanks a lot commander.
     
    #2 josiahemmy, Oct 18, 2011
    Lasted edited by : Aug 15, 2015

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