Euro Forex Pro Weekly 07-11 June 2010

[rasto007]

Trading stocks

Sive,

what is your experience applying DiNapoli way of trading to trading stocks? What timeframes?

Rasto

 

[Sive Morten]

Sive,

what is your experience applying DiNapoli way of trading to trading stocks? What timeframes?

Rasto

Hi Rasto,
It works on any liquid market. This is a major condition. Time frame is a mostly personal thing. But it works on any time frame on a liquid market. 5 min, 10, 20, 30 hourly, daily, etc.

 

[Sive Morten]

EUR/USD Update, Thu 10, June

Hello, everybody,

Although today is another day, but situation is the same - very shallow action, market in making a decision now. If you will decide to trade today, I'll just give you some levels to watch for.
This is a 4-hour chart. First of all 1.2082-1.2095 - strong resistance - Weekly Pivot and Confluence Fib resistance. Market should bounce from there. If Bearish bias still in play - weekly pivot should hold up move.

Second strong area of resistance - 1.2153-1.2155 - another confluence resistance and daily Pivot resistance 2.
Be carefull around these areas.

 

[Mandrake]

Wow good breakout for US stocks today. I hope it last. Look good for currencies as well.

Hey Sive, I would like to ask you whether you think there would be some strange movements than normal for the next 1 month ?

Since you have more than 10 years of experience in forex, you would have been through at least 2 soccer world cups hah. I know a lot of guys are glued to their TV during this time. I am definitely one of them. I will be analysing the matches and betting as well. So only the ladies are gonna be trading ha ha.

Or maybe we should buy ZAR instead since many people are gonna change their currency into something they can use over in africa, but I think the spread is gonna kill us..

What do you think Sive ?

 

[truelife69]

Hello, everybody,

Although today is another day, but situation is the same - very shallow action, market in making a decision now. If you will decide to trade today, I'll just give you some levels to watch for.
This is a 4-hour chart. First of all 1.2082-1.2095 - strong resistance - Weekly Pivot and Confluence Fib resistance. Market should bounce from there. If Bearish bias still in play - weekly pivot should hold up move.

Second strong area of resistance - 1.2153-1.2155 - another confluence resistance and daily Pivot resistance 2.
Be carefull around these areas.

Sive,

i was just wondering what is your educational background as it relates to trading especially fundamental analysis (degree or certification in economics, finance, banking, etc..) i have a friend who's interested in a similar job as yours but is in need of a little guidance in terms of which degree or certification path she should go.

Looking forward to your response and thanks in advance.

 

[Sive Morten]

Wow good breakout for US stocks today. I hope it last. Look good for currencies as well.

Hey Sive, I would like to ask you whether you think there would be some strange movements than normal for the next 1 month ?

Since you have more than 10 years of experience in forex, you would have been through at least 2 soccer world cups hah. I know a lot of guys are glued to their TV during this time. I am definitely one of them. I will be analysing the matches and betting as well. So only the ladies are gonna be trading ha ha.

Or maybe we should buy ZAR instead since many people are gonna change their currency into something they can use over in africa, but I think the spread is gonna kill us..

What do you think Sive ?

Hi Mandrake,
Including me. I'll be for England . If they will knock out - may be Spain of Argentina....

Strange movements are very probable during summer - market becomes thin. even decpite World cup. And not only on FOREX - stocks, futures are also in this basket.

Concerning ZAR - I'm not sure...

Sive,

i was just wondering what is your educational background as it relates to trading especially fundamental analysis (degree or certification in economics, finance, banking, etc..) i have a friend who's interested in a similar job as yours but is in need of a little guidance in terms of which degree or certification path she should go.

Looking forward to your response and thanks in advance.

Hi truelife, sorry that didn't respond on the first time - spinning around...
Well, I have degree in Financial management - I've made a fundamental analysis of stocks (Investment valuation) for a long time and if your friend want to do particular this stuff - MBA or bachelor in Financial management is the right choice.
But, trading, in fact, does not demand much - there are 3 very important issue - strategy (or sistem, trading plan), discipline and psychology. Also market mechanic is very important. But as it is - education is not so important. From the other side, If your friend will do well in economics, major link between basic markets, economical cycles. This will help much. And some skills in math are welcomed also.
As you can see, trading is a very multiside work.

Hope this helps

 

[Sive Morten]

EUR/USD Update, Fri, 11 June

Good morning,

Market has shown upmove yesterday and now is above weekly Pivot point. Daily trend turns bullish. If you remember - during last few months weekly pivot holds market's upmove (just look at daily picture).
First of all, let's look at 4-hour chart - market has almost reached an OP (and I think that It should be reached before retracement down) near Confluence resistance. I do not want to buy right here - because we at Logical Profit objective (OP=1.2165) and just below confluence resistance. We need a pullback.
On 1-hour chart, I think that 1.2050 area is not bad to try enter long with target 1.2210-1.2230 - weekly resistance 1 and daily Oversold level. If we'll see any ABCD-top pattern on a lower time frames (15 min for example) that D-point is near this level - we can try to enter long. I do not know exactly will market continue upmove from there, but this level looks logical to me for short-term long position. Besides, if market intends to make another leg up - it should not show very deep retracements. If it takes 1.1990 Fib support, then, probably bears will be in charge again.

 

[Mandrake]

Good Day Sive,

Hmm.. thin volume. I am looking forward to how it will turn out since I only started forex in late september last year. Maybe thin is good as well since i won't have enough time to look at the charts hah. I will hold for a few days instead.

I like england too but spain seems to play superb. I wanna bet on them to win the cup but the odds here only pay 4.2x. not worth the risk. Maybe bet on england instead odds pay 16x.

Eur seems to be playing just below weekly pivot right now. I am watching to enter if directional movements is strong on either side.

I am seeing something that looks like a double repo on GBPUSD. But the thrust is very weak and took like 15 candles to form. What do you think of it, Sive ?

 

[jim deblasio]

On 1-hour chart, I think that 1.2050 area is not bad to try enter long with target 1.2210-1.2230 - weekly resistance 1 and daily Oversold level.

Hi Sive,

Will you be putting a sleeper order in the demo account at 1.2050?

Jim

 

[Sive Morten]

Hi Sive,

Will you be putting a sleeper order in the demo account at 1.2050?

Jim

Hi Jim,
No, I will not. This was a program for the day. I'm very rarely place open orders for weekend.