A-B-C-D Trade - page 127
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USOIL
Oil trades generally in the same direction as EURO of EUR/USD. Like GOLD, it is prone to quick whipsaw activity. Flight to safety as well as fear factor can drive this product.
Daily: Low = Mar 1st $96.43 & High = Mar 7th $106.93. The 23.6 fib of 104.45 is current support. Top is close to a 236.8 extension from plot Low = Feb 15th to High = Jan 31st.
1-Hour: BAJA bearish divergence 12:00 candle, with 15-min EFT entry at 13:30 $106.76.
Low = Mar 4th $102.35 & High = Mar 7th $106.93.
The 50% fib of $104.64 has been support since major spike down at 14:00.
Gann_SQ9 has 180-degree level acting as support.
Attached 30-min chart also has MurreyMath_1.0 indicator, where we can see that the 50% fib is the same as the 7/8th.
We also observed that the 2nd group of candles clearly was weaker than the 1st group. That was the hint that things were set for a pull back. Using those 2 peaks, it qualified as bearish divergence for experienced traders even without the RSI(4) compliance.
EUR/USD broke out to downside ahead of Euro open, and sitting at FE 78.6. The fibo fan from Mar 2nd low to yesterday's high, has 50% fib near FE 100 = 1.3929.
Attached is 30-min EUR/USD. We had ABC swings of Mar 7th 16:00/19:00/Mar 8th 04:00, which produced FE 200 bottom.
A BAJA bullish divergence registered, but comes at the end of the European session when profit taking may represent a small retrace. Entry 1.3881. Thus, if it's traded, keep that in mind (exit early or lock in per money management).
We also moved the high of fibo fan from 1.4035 top to Point A of 1.4013. The fan's 61.8 caught bottom and merged at FE 200 at 14:00.
USOIL retraced to the 78.6% fib (see previous post) end Asian and bounced up to near Swing C level at 13:45. The reversal was a FE 61.8. BAJA 30-min bullish divergence at bottom 07:30. Entry 08:15 $103.85.
TOP $105.75: The 30-min 13:30 candle was the 2nd peak of BAJA bearish divergence. Market was moving fast and EFT 15-min entry was 14:45 $104.83.
Fibo fan Low = Mar 3rd $100.16 and High = 13:45 $105.75 produced 38.2 as support.
Attached are:
1) 30-Min chart showing BAJA BUY and BAJA SELL. BAJA Divergence caught both Asian Bottom and European High. There was no doubt about the signals.
2) 15-min chart for better view of price action and trigger entries.
The EUR/USD BAJA BUY has hit the 50% retrace fib form Euro High/Low plot, for about +30 gross pips from entry.
USOIL 1-hour chart with Gann_SQ9. Also have fibo fan plot from Mar 3rd bottom.
Trend line from top Mar 7th 13:00 and Mar 8th 13:00.
The trend line and fibo fan's 38.2 creates a triangle.
Price bounce off 38.2 and facing resistance at the Gann_SQ9 90-degree level of 104.72. We can see that level acting as support the last 2 days.
Wait for pivot and plot ABC.
Feb 1st BAJA Bearish Divergence Daily candle. 4-Hour trigger on Feb 2nd 12:00 price 1.3801. S/L 1.3860 + 5 pips = 1.3865. Risk = 65 Pips. Take-profit at 61.8% retrace fib of 1.3681 + 3 pips = 1.3684. Profit = +117 Pips R/R = 1.8:1 This is 40% of max move during week.
Mar 3rd BAJA Bearish Divergence Daily candle. 4- hour trigger on Mar 7th 16:00 price 1.4013. S/L 1.4035 + 5 pips = 1.4040. Risk = 27 Pips. Take profit at 50% retrace fib of 1.3888 + 3 pips = 1.3891. Profit = 121 Pips. R/R = 4.5:1. This move is pending.
good fine ,, pls say any divergence point for gold market , touching new historical highs and coming down
good fine ,, pls say any divergence point for gold market , touching new historical highs and coming down
Let’s examine the BAJA system on the EUR/USD weekly charts. As mentioned, we can use the EFT on the Daily as trigger entry.
Weekly BAJA Bearish Divergence Candles
Oct 18, 2009 (+375 Pips)
Nov 22, 2009 (Major Reversal +2,975 Pips)
Oct 31, 2010 (+1,200 Pips)
Weekly BAJA Bullish Divergence Candles
Mar 21, 2010 (+250 Pips)
May 30, 2010 (Major Reversal +2,000 Pips/Pending)
Jan 2nd 2011 (+900 Pips/Pending)
*****
GOLD 30-Min BAJA Divergence Candles
Mar 2nd 14:00 Bearish
Mar 2nd 16:30 Bearish
Mar 4th 16:30 Bearish
Mar 7th 16:30 Bullish
Mar 8th 07:30 Bullish
Mar 8th 11:30 Bearish
GOLD Daily BAJA Divergence:
1st peak = Mar 2nd $1441 RSI 87
2nd peak = Mar 7th $1445 RSI 67 (historic high)
4-Hour SELL Trigger
Mar 7th 22:00 trigger $1432.20
Max gain thus far Mar 8th $1424 14:00 candle, which was 61.8% retrace.