A-B-C-D Trade - page 188
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Left chart has PSQ9 and ABC swings from July 22nd similar to last post on EUR/CHF. We can see yellow FE 127.2 of .80620 hit and Mars 0-degree just below it.
Right chart has session colors and High/Low plot mentioned, It broke the 161.8 and now at the 200% extension level of .80575. We can move the Low to pivot of .81144.
When running past the 200%, good idea to move on end of plot.
hi after long back , gold touched historical high with gap upperside in morning session now trades at 1616 ur views pls baja thanks in advance
Hello James,
The first chart we posted early was the 161.8 extension on XAU_USD. Here is another chart with PSQ9.
Besides yellow 161.8, price hit diagonal Moon 135-degree (red). Price bounced down to High 1607.10, which is common. Mars 90-degree acting as resistance, and price currently resting on 138.2 (yellow).
This move was anticipated and trader must be ready at open of week. Fear drives flight to safety toward gold and CHF.
The XAU_USD daily chart shows divergence with the 2nd peak (July 24th Sunday candle).
We drop down to the 4-Hour interval and wait for the 1st red histogram to close. Entry signal is at open price of next candle, provided risk/reward is acceptable.
You must have the EFT color with blue/red/red/blue in input tab of edit function.
You must calculate distance between entry and high for S/L, compared to take-profit target.
If this goes to the 200% of 1637.57 (this daily chart plot), there will be a natural bounce down. If that move up is fast/strong, the 4-hour EFT will not trigger a SELL signal until it reverses.
The intra-day plot was moved to:
Low = July 22nd 16:00 1598.35
High = July 24th 22:00 1623.35
127.2 = 1630.15
138.2 = 1632.90
161.8 = 1638.80
Wider plot:
High = July 21st 07:00 1604.55
Low = July 22nd 07:00 1583.35
261.8 = 1638.85
Here's 4 charts/instruments on split -screen.
Upper left is USD/CHF with aforementioned PSQ9 and ABC. We can see pair hit the FE 161.8, and Moon 0-degree also there.
Lower left is AUD/CHF with fibo fan's 61.8 intersecting horizontal 161.8 extension.
Upper right is SPX500 with gap down upon week's open, 161.8 extension, and trend line.
Lower right is XAU_USD near week's open high. Red horizontal fib plot's high moved to top, Fibo fan in blue.
Andrew's Pitchfork (APF) Plot:
Handle = Mar 16th low 1246.00
Upper handle = May 2nd high 1375.90
Lower corner = June 17th low 1262.40
Add AML indicator for interior fibs.
Horizontal fib plot (yellow):
Low = June 16th 1257.90
High = July 8th 1358.60
1) We can see the hit to the Median Line (ML) on July 8th.
2) Retracement to horizontal 61.8 on July 18h.
3) Thrust back up went to the 88.6 (not shown) retrace from 1-2, intersected by Lower_ML1.
4) Week's open gaped down to Lower_ML2.
Here's the update on this 4-hour chart. We do see that the plot has locked in. This comes from edit function "save" per our previous mention.
The low shown at .86794 is the price level of the lower line of yellow center box. which is obviously significant.
EUR/USD 1-Hour Bearish Bat
Guru Carney's pattern is attached.
Point D must be a .886 retracement of X-A. That would be at price 1.44925
" The Bat pattern is a precise harmonic pattern discovered by Scott Carney in 2001. The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg.
The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD pattern within the Bat is extended and usually requires a 1.27AB=CD calculation.
It is an incredibly accurate pattern and requires a smaller stop loss than most patterns."
1st chart
Labeled swings of Bearish Bat. Yellow dotted horizontal fibs were used to illustrate the Point D retracement, which must be .886 (or 88.6%).
Blue ABC plot has current candle close price right at the FE 100. Carney's perfect pattern overlaid.
If Point B was a 50% retrace of X-A, it would comply with 127AB=CD. Use your ABC tool (fib expansion tool) and place Point B at the 50% level. You will then see that the FE 127 is at the general area of Point D.
2nd chart
ZUP pattern with Carney's pattern overlaid for comparison. Again, we plotted white retracement fibs to ascertain Point D retracement level.