EUR/USD Daily Video, October 18, 2011

[Sive Morten]

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

 

[josiahemmy]

18_10_2011

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

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.