Forex EUR/USD Daily Video, September 28, 2020

Sive Morten

Special Consultant to the FPA
Messages
13,911
Good morning,

Short-term fundamental background is becoming tougher and some negative events that were supposed to be "light" now is becoming heavier. This could lead to deeper retracement on EUR in medium-term perspective and keeps short-term sentiment bearish:

 

Tchurik

Private
Messages
11
Hi everyone,

In relation to sive analysis on the AUDUSD, i d like to show you this possible 4H DRPO buy

I would buy now with a stop at 0.6950
 

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soul rebel

Corporal
Messages
94
Hi everyone,

In relation to sive analysis on the AUDUSD, i d like to show you this possible 4H DRPO buy

I would buy now with a stop at 0.6950
Thank you for posting this reminder!
I have taken a long position at 7038. What do you suggest is the take profit target for this trade?
thanks
Viresh
 

Tchurik

Private
Messages
11
Thank you for posting this reminder!
I have taken a long position at 7038. What do you suggest is the take profit target for this trade?
thanks
Viresh


Hi Viresh,

I remember that Joe Di Napoli, in the book, suggest first target at 50% of the precedent thrust (anyone correct me if i m wrong). So for that trade that would be 0.7150 TP1 and 0.7215 (61.8 retracement) for the TP2. That is also a confluence resistance.
Hopefully we are coming to the first traget soon.
But on the longer Timeframes, Sive suggested a possible extension of the actual downtrend, and eventually a DRPO sell on the Weekly timeframe. So we could keep a part of our position for a possible new top.
 
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