NZD/USD Daily Video, October 28, 2013

[Sive Morten]

Good morning,
NZD now shows most clear setup and who knows, may be this is some sign for other dollar-related currency pairs:






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.

 

[Brett Reynolds]

Great analysis with confluence on patterns and levels again Sive. I have been trading the Kiwi and Ozzi quite a bit during last month as there has been some excellent PA Set Ups which were backed up by your analysis and video you did on 16th Sept for Kiwi. I just watched that video again and one thing that makes me slightly worried is that the .86 level has not been reached after the breakout of the .8150 level on the 16th Sept. I don't know the significance of this in light of your most recent analysis and now a Monthly Stop Grabber which indicates retracement right back to lows of .76 area! This is not small move! I can see however that it would not destroy overall AB/CD pattern on monthly..BUT it means 'breaching' the .8150 area again and i would have thought that this 'event' area would hold any such retracement!? I will certainly be watching the PA at the specified levels this week (ie .8375/.8450) for signs to enter short in what would afterall be a BIG 'Countertrend' move and ofcourse the PA around the .8150 level for signs of upward continuation.

 

[Sive Morten]

Great analysis with confluence on patterns and levels again Sive. I have been trading the Kiwi and Ozzi quite a bit during last month as there has been some excellent PA Set Ups which were backed up by your analysis and video you did on 16th Sept for Kiwi. I just watched that video again and one thing that makes me slightly worried is that the .86 level has not been reached after the breakout of the .8150 level on the 16th Sept. I don't know the significance of this in light of your most recent analysis and now a Monthly Stop Grabber which indicates retracement right back to lows of .76 area! This is not small move! I can see however that it would not destroy overall AB/CD pattern on monthly..BUT it means 'breaching' the .8150 area again and i would have thought that this 'event' area would hold any such retracement!? I will certainly be watching the PA at the specified levels this week (ie .8375/.8450) for signs to enter short in what would afterall be a BIG 'Countertrend' move and ofcourse the PA around the .8150 level for signs of upward continuation.

Yes, that was my thoughts either. But may be downward action will be just AB=CD. Interesting moment here is D point. it stands slightly higher than butterfly low. Hence, it means that right wing of butterfly could start from there but not as we've drawn it previously. Anyway, even this AB=CD down will not be a drastical action for monthly AB=CD and it still will be valid. Let's see.