Euro Forex Pro Weekly 31 May - 04 June 2010

[jim deblasio]

Yesterday's EURUSD Drop

Hi Sive,

For educational reasons (not critical), could you share your think on why you weren't in yesterday's drop?

Jim

 

[Sive Morten]

Hi Sive,

For educational reasons (not critical), could you share your think on why you weren't in yesterday's drop?

Jim

It's quite simple - my sleeping order was not touched for 5 pips at 1.2219. Later I've placed another one - It wasn't touched also.
And then Eur has started to fall like knife, so it was late a bit to enter.

 

[renozza]

Thanks Vix.

Part of Dinapoli target levels
OP - objective point
XOP - extended objective point
COP - contracted objective point

there is some explained here
DiNapoli Levels and Fibonacci Levels – Explanation And Example, by Kent Shaw

Calculations would be
OP = B-A+C
COP = 0.618 x (B-A) + C
XOP = 1.618 x (B-A) + C

you can notice on charts that Sive marks points A, B, C

Thanks Vix for your explaination and the link.U re the best.:cute: