A-B-C-D Trade - page 338
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We'll give the APF plot for GBP/USD in the 30-min time frame for easier view off the retrace. The 1-hour will show the plot points better.
Handle = Apr 2nd 03:30 high 1.52477
Upper Corner = Apr 4th 04:30 high 1.51376
Lower Corner = Apr 4th 08:00 low 1.50321
Align FC to full size of APF, and the 100% expansion are was touched Apr 4th 14:00 period.
Adding the MurreyMath1.0 (MML) indicator produced its 6/8th resistance level there as well.
Decline was to the FC -31.4, as well as one level down to the 5/8th MML.
Data Apr 4th: BOE 11:00 and ECB 12:30
Confirmation of plot included:
mid-fork adherence and 50% expansion
Our last comment on the GBP/USD 30-min expansion, concludes with 300% expansion. You can make that extra level to verify.
The attached is a daily chart of the same pair, with SDC plot, using Oct 7th and Dec 31st.
A 100% expansion to the downside touched on Mar 12th. Retrace thus far to the FC -50% (50% of SDC size).
The HAMA_T3 used for additional S&R assistance. We can see it aligns with the FC -50. Short-term traders would be out, and others will see if price can fight through resistance.
GBP/AUD daily did manage to break through HAMA_T3 resistance, and touched the lower channel of our SDC plot Apr 7th/8th.
EUR/USD 1-hour double SDC plots using (GMT times):
2 highs: Apr 8th 11:00 & Apr 9th 00:00
2 lows: Apr 8th 19:00 Apr 9th 07:00
This produced opportunities
Apr 9th 12:00 SELL at mid-channel of 2 lows plot and upper channel 2 highs plot (intersection)
Apr 9th 15:00 SELL at upper channel 2 lows plot.
We added MurreyMath1.0 where its 4/8th acted as additional resistance for 1st SELL. The 5/8th coincides with 2nd SELL.
SDC (set on Deviation = 2) plot points uses 2 peaks of Apr 2nd 00:00 and Apr 4th 16:00 GMT.
Apr 5th 12:00 saw breakout of upper SDC channel to the upside. Align FC to full size of SDC to upside.
Resistance at 50% expansion created bounce back down to the HAMA_T3 zone Apr 8th.
Support held and price climbed back up until it met the 100% expansion.
A 50% retrace occurred and today data propelled pair back up to diagonal 100% expansion level.
Here's an updated pic of same chart and plot from last post.
Price did decline off the Apr 16th revisit to the 100% expansion channel line. This was further fueled by today's (Apr 17th) 08:00 period GBP data and any reaction to BOE.
The 12:00 period found support at the -31.4%. This means price traveled 31.4% X 2 = 62.8% of distance between upper and lower diagonal expansion area, fitted above the original SDC.
EUR/USD plunged on weak data 07:300 and shortly thereafter. Day traders trading bounce off 50% retrace level now.
AUD/USD Daily Fib Channel plot points:
A = Jan 11
B = Mar 4
C = Apr 11
Can lurk (wait) at lower Plot Line B for bounce trade BUY.
This trendline was support last year during July, Sept, and Oct
Better bookmark or copy this post.
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The website's name is misleading, as they have Forex brokers too:
Dukascopy Forex Broker Review 2012 - StockBrokers.com
or cut & paste:
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We lead you to the page that features one broker. Look in the upper right hand corner to see a list of 20 brokers, that are available for comparison.
Click on a 2nd broker, and the 2 will be featured side-by-side.
From that page, a large box appears. All of the brokers have a check box, allowing user to compare more than 2 at a time.
Edit: PLEASE NOTE THAT SOME BROKERS ADD A FLAT RATE COMMISSION TO THEIR SPREAD.
For those of you that wish to take it a step further, you can study the practice of a broker paying traders for limit orders, by reducing the spread once that limit order is filled. This adds to liquidity.
This page has a live stream of spreads being compared to MB's rate when traders are paid for limit orders.
MB Trading - Pricing
or cut & paste:
stockbrokersfx.mbtrading.com/pricing.aspx
The SDC (yellow) 4H plots points uses 2 highs of Apr 4th 12:00 and Apr 24th 12:00.
This plot's lower channel provided support at the 88.6% retrace area of last upswing (see white horizontal fibs), during the May 1st 08:00 period.
Aligning the fib channel tool (blue) to the SDC, provides interior ratios that subsequently were respected.
Note that CHF is sensitive to ECB data, especially rate decision/verbiage, which came out about 11:45 GMT. Therefore, exit approaching the FC 31.4% or horizontal 68.8% was an option for those with small S/L.