EUR/USD Daily Video, October 25, 2011

[Sive Morten]

Good morning,
Today we have to watch for clear signs, that could tell us - whether market will continue up or will turn down:




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

 

[samfx]

Hi Sive,

On todays video you said market didn't reach yet the 1.27 Fib expansion level of the Butterfly pattern! I am wondering how do you draw the ABC expansion for a butterfly.

I thought market reached the 1.27 expansion yesterday using the ABC points that you have on the 4 hour chart, the one inside the butterfly pattern (AB on from the left wing and BC from the right wing). I guess I am wrong!

Which points do you use to get the 1.27 and 1.618 levels of the current butterfly on the
4hour chart?

Thank you

 

[Sive Morten]

Hi Sive,

On todays video you said market didn't reach yet the 1.27 Fib expansion level of the Butterfly pattern! I am wondering how do you draw the ABC expansion for a butterfly.

I thought market reached the 1.27 expansion yesterday using the ABC points that you have on the 4 hour chart, the one inside the butterfly pattern (AB on from the left wing and BC from the right wing). I guess I am wrong!

Which points do you use to get the 1.27 and 1.618 levels of the current butterfly on the
4hour chart?

Thank you

Hi Samfx,
for butterfly targets we use extension of initial swing down - first swing of the left wing. Look at Fib extension tool in the video. 1.3905 - 1.3645 on my chart. Then you count upward 1.27 of that distance and 1.618

 

[samfx]

Thank you Sive, I got it

 

[sri_vas1979@yahoo.co.in]

Srinivas(india)

Hi Sive,

i am very new in the thread but after watching your analysis since one month i realy learn so much from you. thank you very much for your efforts keep going.

Srinivas(india)