A-B-C-D Trade - page 240
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Attached is a continuance of our plot on SPX500 4-Hour.
We applied the Standard Deviation Channel (SDC) tool, which is available on the MT4 platform. We repeat the plot = Sept 27th 16:00 and Oct 7th 12:00, marked by "X" on the chart.
Next, we had aligned the fib channel (FC) tool, also available on the MT4, to the SDC's lower and upper channel lines (pulling plot upward).
The 1st white arrow was bounce we announced at 1220 level, near the FC 138.2, and Moon 270.
Since then, price has moved above that to the area occupied by the FC 161.8 and the Mars 180-degree line.
Attached is a chart on last week's EUR/USD price activity. We have the color lines denoting Moon 45-degree intervals.
The previous week's Moon levels are in white and extended from the left.
Yellow horizontal fib plot: Low = Oct 7th 18:00 1.33601 High = Oct 10th 15:00 1.36894.
The retrace at the 23.6% and 38.2% levels also had Moon lines from the previous week, as support (pink arrows).
Last Friday saw 13:00 candle period hit the previous week's Moon 90 and bounce down about 55 pips to previous week's Moon 45.
Here is 1-Hour with PSQ9 Moon in 45-degree intervals. The OS trade.
The fib channel is aligned to the Moon 270 and 0-degree lines (pink).
That resulted in levels below the Moon 0-degree:
-25% (entry)
-31.4%
-40% (stop-loss)
Last week's Moon 0-degree is extended over to today in white. As we can see it is on the same level as the -31.4%. We had mentioned that at each new week, the Moon lines offset to the upside by 31.4%.
To arrive at that measurement, the plot must be 90-degrees (pulled across 2 levels of 45-interval lines).
Target is the +31.4 to the upside, about 1.3888. This TP changes (increases) as time progresses and channel slopes upward.
3 charts:
Upper left is 15-min with session colors. CAn see resistance at previous high established earlier 22:00 1.38859. Lurking shorts here for bounce trade.
Lower left has wider horizontal fib plot. BUY entry level was 138.2 (yellow).
Right chart is same as last post, but added labels for prices S/L and TP.
The 07:00 1-hour candle closed right at the +31.4% TP (right chart).
15-min chart shows touch of 127.2 and 138.2 extension levels.
Lower left 1-hour has yellow 161.8 and white trendline from previous period.
Pair stalls here but seeking higher ground.
Update on split-screen, as pair unable to sustain above FC 31.4, and reversed at Moon 45.
15-min shows hit to 161.8 to upside (same as Moon 45) and 261.2 to downside.
Lower left has 127.2 as support.
Right chart illustrates hit to Moon 45 and Doji candle right at FC 31.4. White line is extension of last week's Moon 315, that is respected as support.
*****
Dinner conversation - G20 gives EU one week deadline to firm up rescue plan.
hi ....Is it good to buy sp 500 ??? please give ur view thanks
hi ....Is it good to buy sp 500 ??? please give ur view thanks
Never knew what your style is james. If intra-day, draw fibs on 4-hour. This results in 78.6 at 1199.80, just about round number 1200. BUY here (add cushion and spread) on bounce trade. Plot quick retrace.
Edit: When we say round number, this example means BUY just above that 1200 level.
STUDY PURPOSES ONLY
Here is split-screen on the bounce trade upward off of 1200 (78.6% fib).
Just hit the 50% retrace 1206 TP.
SPX500 30M with PSQ9. We plotted SDC at Oct 12th and 17th highs.
Selected alignment of fib channel to SDC's middle and lower channel lines to arrive at a 138.2 extension at intersection of Mars 90 and Moon 135-degree.
This is double bottom.
Got to make it quick as strong sentiment toward downside. Bounce up just about at FC 100 for safe exit (also 1199 and ahead of round number 1200).