GBP/USD Daily Video, October 25, 2010

[Sive Morten]

Hello everybody,

Although market does not have any definite signals, we have to watch for price action around some levels to estimate further direction of the market:








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.

 

[Slim Trady]

Hi Sive,

Many thanks again for the trouble you take posting your analysis.

Thanks for replying to my last post on this subject and I apologize for raising the subject again but I think clarification would be helpful.

On your charts you have weekly pivot at 1.5767 and weekly pivot R1 at 1.5809.
I'm convinced that this is wrong and these are not weekly pivot points but are DAILY pivots.

The weekly pivot is at 1.5946.

Could you confirm or refute this as pivots are crucial to my analysis.

 

[Sive Morten]

Hi Sive,

Many thanks again for the trouble you take posting your analysis.

Thanks for replying to my last post on this subject and I apologize for raising the subject again but I think clarification would be helpful.

On your charts you have weekly pivot at 1.5767 and weekly pivot R1 at 1.5809.
I'm convinced that this is wrong and these are not weekly pivot points but are DAILY pivots.

The weekly pivot is at 1.5946.

Could you confirm or refute this as pivots are crucial to my analysis.

Hi, Slim Trady
My Pivots are OK - look:

1. Previous week High = 1.5998
2.Previous week Low=1.5641
3.Previous week Close = 1.5662

Pivot = (H+L+C)/3 = 1.5767

THe pivot at 1.5941, based on futures prices or your pivot at 1.5946 was for previous week. I post pivots for coming week rather. The pivot that you are talking about has passed, it's not interesting for us now. It was interesting in the beginning of previous week.

 

[Slim Trady]

Ok - thanks Sive

 

[falanks]

Thanks for your analysis. Waiting for your next one

 

[dpowen]

Hi, Slim Trady
My Pivots are OK - look:

1. Previous week High = 1.5998
2.Previous week Low=1.5641
3.Previous week Close = 1.5662

Pivot = (H+L+C)/3 = 1.5767

THe pivot at 1.5941, based on futures prices or your pivot at 1.5946 was for previous week. I post pivots for coming week rather. The pivot that you are talking about has passed, it's not interesting for us now. It was interesting in the beginning of previous week.

Hi Sive,

Which timezone do you calculate this from? Looks to me like you are using a broker time of 0:00GMT.

From your experience do you find calculations based on the GMT timeframe to be the best reference point?

Thanks and respect to you for the service that you provide.

Regards

D.

 

[Sive Morten]

Hi Sive,

Which timezone do you calculate this from? Looks to me like you are using a broker time of 0:00GMT.

From your experience do you find calculations based on the GMT timeframe to be the best reference point?

Thanks and respect to you for the service that you provide.

Regards

D.

Hi, These quotes are not from broker. They are from Chicago Mercantile Exchange . You can check the trading shedule of currencies futures contracts on Globex on cmegroup.com

 

[forexclues]

Hi sive morten

Hi Sive Morten

I placed a short trade in GBP USD yesterday about 15 minutes after the US existing home sales figure was positive for USD.

I have also been watching the monthly pivot of 1.5762 and the market was significantly below this level almost throughout yesterday.

I am still short now.

But I just want to hear from your side since you have recently said that there is nothing yet interesting there.

I have began my research on JoeDinapoli methods and I'm working on DMA's right now.

Thank you very much.

I'll appreciate your reply.

Thanks.