A-B-C-D Trade - page 136
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Attached is EUR/USD weekly. The indicator SQ_9 (Price) has input StartPrice of 1.1640 (Nov 13, 2005). This plot has been previously shown.
We can see pair hit resistance at the 450-degree level, refusing to close above that. The high was a 138.2% extension from low/high plot Jan-9-2011 and Jan 30. 2011 candles.
The last candle also made a 50% retrace of plot from previous week's low to last week's high. The retrace was to the 428-degree.
Take your Cycle Lines tool to EUR/USD weekly. Try to find the 11-interval marks. Once that is found, use same interval of 11 and plot backwards to see that market provided turning points.
Answer Sunday.
Gann and others believed in plotting S&R off of the yearly high/low. So, let's take a look at the EUR/USD weekly chart for 2010:
High = Jan 10th 1.4578 and Low = June 6th 1.1875.
Make sure your fib retracement tool has the other ratios (levels):
The input would be .236, .786, and .886
The labels area: 23.6, 78.6, and 88.6
If you want the price for each fib add the symbols %$ after each input number. A space after the number would space it out.
The last week's candle faced resistance at the 88.6% fib. The last time this level was seen was on week of Oct 31st, 2010.
Together with the trend line (pink) plotted with peaks on July 13, 2008 and Nov 29, 2009, the implication is clear.
Sustained upward activity above this would denote a likely trend change to the upside.
Same EUR/USD weekly, plot fibo fan from High = Nov 29th, 2009 to Low = Jun 6th 2010. The 88.6% fan provided resistance for candles of the last 2 weeks.
When we move the Low to the next pivot of Aug 22, 2010, it is also effective.
Other observations regarding pivots are High/Low:
Apr 11th, 2010/June 6th, 2010 = 8 candles/weeks.
June 6th/Aug 1st = 8
Sept 5th/Oct 31st = 8
Oct 31st/Jan 2nd = 9
Jan 2nd/ Feb 27th = 8
Take your Cycle Lines tool to EUR/USD weekly. Try to find the 11-interval marks. Once that is found, use same interval of 11 and plot backwards to see that market provided turning points.Answer Sunday.
June 6th, 2010 to Aug 22, 2010
Also look at Aug 1, 2010 to Oct 17, 2010
Staying with the big picture and weekly chart theme, we have the plot and settings for the GannBox_144 that projects the aforementioned trend line as its 1/1 angle fan.
Start = All-time high 7-13-08 price 1.6038.
Prices (Height of box) = 45,000
Times (Width of box) = 360
Using a height setting of 36,000 also has merit.
EUR/USD Bullish Gartley on 1-hour. Point D is the 22:00 candle.
BUY Entry at 23:30 price 1.4031, using 15-min EFT.
We added white fib retracement plot using Mar 24th 1.4219, with the 23.6% fib at 1.4068, which is where pair just bounced during 02:30 15-min candle.
Attached is Mar 22nd Bullish Bat on 1-Hour USD/CAD, with Point D at 11:00 low of .97455.
This was also BAJA bullish divergence.
15-min EFT trigger BUY entry at 12:00 price of .9757.
Can use the aqua colored fib line in red box as stop-loss, .9741 + 5 pips = .9736.
Fib retracement (not shown) plot from top of second wing = .9966. The 38.2% fib = .9830 and pair made it to .9826 during 13:00 candle. We can see the 1-hour BAJA bearish divergence here and can elect to exit all or majority of position.
Retrace went on to make it slightly higher to .9843, creating another peak with BAJA bearish divergence during the 14:00 1-hour candle. This time the EFT was also displaying divergence. (This high was a 50% fib based on using high of 07:00 price .9930)
Merging your knowledge of multiple techniques made this a solid 60-pip opportunity, with clear assessment of price action.
On 1 and 4-Hour chart.
USD/CHF Bearish Gartley
06:00 candle is Point D
05:00 candle had BAJA bearish divergence.
15-min EFT trigger at 07:00 price .9217.
Stop-loss above high of .9233
Retrace fibs based on:
LOW =Mar 25th 15:15 GMT .9132
HIGH = Mar 28th .9233
38.2% = .9194
50% = .9182
61.8% = .9170