A-B-C-D Trade - page 148
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There was a channel at the top of EUR/USD, as seen on the 1-Hour chart, before the pair plunged down on May 5th.
Find it, use the fib channel tool, and line 1st line at the 2 highest points.
Drag the 2nd line to the lowest point of that channel. The tool will then project the diagonal extension levels. The 161.8 will be at the end of that plunge.
The bottom was also met by the PSQ9 Moon 135-degree (you must have 45-degree increments to see the 135), and the Mars 180-degree.
Bottom also 50% horizontal retrace fib area of last significant Low/High.
Will post chart later, try to plot the fib channel per above.
On the attached 1-Hour, the fib channel's plots are marked with white "X", and all fib channel lines are in white.
The 1st line to plot with the fib channel tool is:
Apr 26th 03:00 high 1.48809 and May 4th 14:00 high 1.49388.
The 2nd line is May 3rd 08:00 low is 1.47532.
The chart retained the PSQ9 lines. We can see that on May 5th 18:00-19:00, EUR/USD extended to the channel's 161.8, which coincides with the Moon 135-degree and Mars 180-degree.
From a horizontal fib plot (not shown):
High = May 5th 07:00 1.48982
Low = May 5th 19:00 1.45089
After release of U.S. Non-Farms Payrolls and Unemployment Rate at 12:30, we saw the 12:00 & 13:00 candles whipsaw. Notice each candle's wick were caught by the PSQ9.
The 15:00 candle period confirmed below support, and made its way to the next level, the fib channel's 261.8 and the horizontal plot's 138.2. The Mars 90-degree was also there.
Jan 7th Low is our start point. We use settings for
Price (Height) = 40500 and Times (Width) = 270.
Both are Gann numbers. 40500 is derived from 405, which is 360 (full circle/cycle) + 45 (1/8th of 360).
Clearly the bold red diagonal 1/1 angle line, which is the main line for trend, has been breached today. We also placed labels for horizontal fib extensions. The GannBox's blue horizontal 72 line (halfway to top of box) caught the top of price action, prior to the current downturn.
Here is AUD/USD 30-min. We pick up were we left off, after the ABC made its extension to the FE 161.8 on May 5th 19:30. That bottom was also supported by the Moon's 180-degree (green).
From that bottom, a new ABC formed going upward, with swings of 19;30/ May 6th 02:30/08:00.
This pair hit its FE 78.6% of 1.07941 at 13:00. That was the top, and in reaction to the U.S. NFP & Unemployment, shifted back down with USD strength. Mars 90-degree (red) is right there. A BAJA bearish divergence also registered at this pivot top.
The horizontal retracement (fibs not shown on chart) is 50% of Point A to Point D (FE 78.6). The Moon's 270-degree (green) also caught the retracement bottom (thus far).
We wanted to hear more opinions on this subject before posting. A rumor that Greece is leaving the Euro Zone is circulating, tied with an unscheduled meeting Friday night by the EU Commission with EU Finance Ministers.
This rumor has been denied by both the Greece Finance Minister, and Germany's Merkel.
The market speculators, or traders simply nervous over this and do not want entire exposure this weekend, have added to EUR/USD selling.
Today is the 1-year anniversary of "The Flash Crash", in which high-frequency traders were blamed by the S.E.C. Reportedly, the S.E.C.'s subsequent findings did not confirm this allegation.
High frequency trading has grown into a major component of all markets. These firms use computer algorithms, also described as EAs or robots.
Also reported, J.P. Morgan served a subpena in the U.S. government's continued investigation in the mortgage crisis. Credit Suisee was served last week. Justice Department still investigating Goldman Sachs.
JPMorgan Said to Face SEC Subpoena Along With Credit Suisse - Bloomberg
The attached 4-hour EUR/CHF utilizes the same PSQ9 settings/template, with Moon and Mars each at 90-degree increments. Bold, flatter lines are Mars lines, and thin steep-sloped lines are Moon lines.
We have a Head & Should at the top on Apr 4th/6th/8th. The Head also was a BAJA bearish divergence. The Mars 270-degree was resistance for shoulders, and bottom of that was bracketed by Mars 180-degree line.
En route to its right base, we had an ABC with swings of Apr 13th 08:00/ Apr 18th 18:00/ Apr 20th 08:00.
Point C had resistance by Mars 90-degree, and Point B supported by Mars 270-degree. This pair bounced around between these 2 points until it broke down on during the May 5th 08:00 candle period.
The FE 100 was hit during the 12:00 candle, and ended the week at the FE 127 during the last candle.
This is EUR/USD daily, with a Bearish Gartley in November.
After the short on the bounce down, the pair made its way to the FE 161.8 on May 4th, and bounced.
Plot from B-C and the May 4th top is the regular 138.2 extension level.
HELLO BAJA
GOOD LOOKING ZUP YOU GOT THERE
OILFX HAS INSULTED THE WHOLE FORUM BY CALLING US IDIOTS/
IF HE EVER COMES TO YOUR THREAD WITH BULLSHIT TRYING TO TELL YOU HOW TO RUN YOUR BUSINESS..
TELL HIM YOU KNOW HE IS A CONMAN....YOU KNOW HE IS KNOWN AS EL CID THE *SNAKE OILSALESMAN* AND HAS BEEN BANNED AROUND TOWN EVERYWHERE FOR POSTING FAKE RESULTS ABOUT HIS EA...THEN USING HIS LINK FOR THE "IF YOU WANT THE SAME RESULTS THEY ARE HERE" SCAM.
YOU CAN READ ABOUT IT HEREELCID TSD - Google Search
GOOD LUCK AND KEEP UP THE GOOD WORK
I noticed you are using the harmonic patterns that were made famous by great thinkers like NEN from russia.
I am not telling you what to do but everyone likes to get new material related to their work.
It seems from reading some of the posts from various pages your theory is evolving and getting more technical as time goes on.It was somewhat simple in the begining and now you are refrencing the moon phases which is a fib strategy I have heard of long ago regarding the cycle and correlation of market turning points...pretty interesting stuff.
Here is a system that you may be able to use.You can use parts of the system like the murray math levels and other components.The point is it is a gift to you and you understand what you are doing and may be able to clear up some of the gray areas that you logically should be running into using the strategy that you are using.
Also it seems you look for the bounce at fib levels and use gann grid to trap price and confirm your turning points.You have been using that modified cci for the trigger or confirmation even when things get confusing as a reference visually.
I have something given to me by a trader called retracement indicator that may be more accurated regarding the actual moment of the bounce or even if you are in the right spot.It is a gray area so here is the indicator *retracement*....enjoy and good luck.
Greetings Kevin,
Thanks for indis, we'll check them out. Yes, we have cycled into the more advanced techniques and tools. It's been one year since this thread started, so the newer stuff will be interesting to those that have digested the basics.
We normally don't place a lot of value in a heavily weighted OB/OS trading technique, and most oscillators. However, we like the Ehler's Fisher Transform in its histogram version. We use it for trigger only when we step down in time-frame, for the BAJA.
The so-called BAJA divergence trade is kept simple. We sped up the RSI to 4-period in order to mimic price action. This allows us to see divergence when the market extends quickly, and pinpoint exactly which candle (30-min or 1-hour) is the 2nd peak or dip.
We then step down in time-frame with the EFT as trigger. These 2 rules are very specific and have no grey areas. Exits are based on retracement fibs.
We introduced the Planetary Square of Nine for S&R. We paired the BAJA with it in order to illustrate how a trader can cheery-pick the best set-ups.
S&R is our foundation, with fibs playing the major role. We can trade simply off of fibs if we desire. We don't recommend cluttering charts and minds with too many indicators on the chart. A couple of accessory indicators should be selected, and that's it. Each trader will have different comfort levels with different indis.
We have slowly but progressively introduced indicators we feel have merit. Thank you again for your kind contributions to this board/community.