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USD/CHF Daily Video, January 18, 2011

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jan 18, 2011.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    Yesterday I've made an analysis of swissie, and found something interesting.
    Market has nice bullish context on weekly time frame:




    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.
     
    #1 Sive Morten, Jan 18, 2011
    Lasted edited by : Aug 15, 2015
  2. tantric

    tantric Recruit

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    Hi Sive ,many thanks for yours all job , for yours presentation , for yours analisies . Good luck and happy pips for you. Greg
     
  3. pringy

    pringy Private

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    Morning Sive!

    Fortunately just before I went to bed, I saw a reversal I didn't like with the EURUSD, and exited the position even though it didn't hit the pivot target. But yes, it was a big bounce from the confluence and pivot! I tried getting into a bread and butter with the EURJPY, but unfortunately I used a trailing stop and got stopped out when it moved back to pivot.. but didn't manage to re-enter.

    Nevertheless, I mainly wanted to ask you about the USDCHF - there's a monthly pivot point at 0.9570 which is not too far from the confluence support at 0.9586-0.9596, could this trigger a Head and Shoulder failure pattern?

    I've just entered based on a double bottom from the pivot.. but I'll keep my stops tight and see what happens!
     
  4. Lolly Tripathy

    Lolly Tripathy Master Sergeant

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    Thank you so much

    hi sive, thanks for the daily help.. we are so glad to have a great coach like you.Can you help me a bit more,i do not get where to enter Usd/Chf...??the stop will be around 0.9300 and take profit could be 1.0060..waiting to hear from you.Thanks again
    GoodLuck
     
  5. anil sharma

    anil sharma Recruit

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    Sive I am totally new person, wish to make this as my carreer eventually. I do not know how to start. I just read onebook named "The 10 Essentials of Forex Trading" by Jared F. Martinez, but when I tried to find trend lines on demo account I could not do it. I wish to make it my carreer in long run, can you please help how to start in the beginning?

    Thanks
    Anil sharma
     
    #5 anil sharma, Jan 18, 2011
    Lasted edited by : Aug 15, 2015
  6. Jyotiprakash Pal

    Jyotiprakash Pal Sergeant

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    Brother same happened too me when i was new!i read so many book! and find its so complicated ! Demo accounts don't come's with emotions !the best way to learn forex open a real account trade with small lot and lost/Make some money!seriously i mean it ..U have to know proper money management,correct stoploss level and step by step profit objectives ... u not going to won all the trades!open a live account .. read Steve Nision book on candle stick .. Sive Morton is a mentor .best ever i seen in my life.he use dinapoli's mathod,harmonics as a part of his strategy which is advanced for a beginner .. u can download sive sir's video.. he is not giving signal..they r more worthy than a education package..;)and ya u can place trade also!they are all bang on target:)

    I really don't know .. other website link provide is allowed or not!so hope i will be not Banned!
     
    #6 Jyotiprakash Pal, Jan 19, 2011
    Lasted edited by : Jan 19, 2011
  7. Sive Morten

    Sive Morten Special Consultant to the FPA

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    No, you will not ba Banned. I've just deleted third part links, because they are not quite appropriate. But I left the major idea of your post untouched.
     
  8. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Lolly,
    Well, current situation makes me think, that market could show a bit deeper retracement on USD/CHF - may be to 50% or even 61.8% support, that we've discussed in video.
    At the same time stop at 0.93 looks too deep. Because we treat weekly price action as a rejection of so low price level and market didn't accept it. If it really so, then it should not return back to this level prior to nice retracement up. If it will still happen and market will accept this level by showing deeper and deeper retracement, this will tell us that possibly our context for weekly trade has been canceled. So I think that placing stop somewhere between 0.786-0.88 Fib support is logical. (may be even between 0.618-0.786).

    Hello, Anil.
    First of all, you need to know the basics - trend lines, classical patterns, major indicators and other stuff before choosing the particular strategy for trading. I recommend you to start from Jack Schwager "Technical analysis" book. Or John Murphy "Technical Analysis of the Financial Markets". They are very similar and, say, classic.
    After that you may shift to choosing the particular strategy. This choice if very personal, because the way of trading should corresponds with your personality and other factors.
    If you like my approach, then you can read Joe DiNapoli "Trading with DiNapoli Levels" and Leslie Jouflas "Trade what you see".

    Something like that. In fact, the choosing of own trading strategy is a long way to go. For example, I have read a lot of different books - couple Nisson's books about Japanese Candles, Schwager, Murphy, DeMark, Nili about Elliot Wave trading method, and others, before come to final conclusion.
     
  9. Jyotiprakash Pal

    Jyotiprakash Pal Sergeant

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    Thanks Sir :)
     
  10. Lolly Tripathy

    Lolly Tripathy Master Sergeant

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    Thanks

    Thank you very much sir
     

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