USD/CAD Daily Video, June 16, 2017

[Sive Morten]

Good morning,

Our CAD trade has started, but it is not finished yet:



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.

 

[claudio56]

Hi Sive,
I am just starting following your analysis and I will like to understand how to use the Fib.Tree V3-4 and Fib Tree 2.0.
I downloaded the indicators but despite having read the instructions I don't understand the meaning of those indicators.
Let me explain: ones I draw between 2 points I get fibonacci retracement 38.2, 5, 61.8..... so .....I can get those with the fibonacci retracement to calculate the possible retracement levels, what is then the advantage to use the Fib tree?
If i understand well when I draw from low point to high point I get the support levels and viceversa the resistance level..... what is the criteria behind this? how I can use those level?..... for entries and stop loss?

Hope can you answer my questions, I will really appreciate.
and sorry for my English.

Thanks

Kind regards

Claudio

 

[Sive Morten]

Hi Claudio,
We use Fib levels in specific manner, mostly we use DiNapoli levels, but not purely Fib levels. They are 80% the same, but some different still exists.
The major thing - Fib levels are not context for trading. We make trades not due Fib levels, but due context. Fib levels is just a tool, leading indicator that shows where support or resistance stand. It is impossible to trade by using just Fib levels.
So, here is materials that could help:
https://www.forexpeacearmy.com/comm...-trading-education-forex-military-school.158/

Also you can read DiNapoli book "Trading with DiNapoli levels". But there are other exist as well.

 

[Brett Reynolds]

I had 38.2 fibo at 1.3310 approx...because i drew fibo from 'C' point of downward AB/CD which was on 9th June. I think you used a 'different point' in your original video.? Anyway...i saw price Hit 1.3300 which i also had as a line of resistance and took a short at 1.3280...then added another at 1.3260.
It wasn't so late Sive...perhaps you go to bed way too early..!??

 

[exclass]

Trade finished, the levels you said where to enter and where to exit were almost perfect. I hope we see more short term setups like this. Thanks man