A-B-C-D Trade - page 140
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Attached is the 4-hour EUR/USD with PSQ9 indicator set on default. We also have the BAJA indicators that determined bearish divergence on Apr 4th 00:00 candle.
The 30-min trigger and SELL position happened at the upper resistance line. If taken to bottom support, captured about 50 pips.
Also on chart is indicator Heiken Ashi MA T3 new_alerts. As mentioned previously, it can also be used like a moving average for S&R, as well as directional trend.
EUR/USD bounce off bottom now trading 20 pips above yesterday's high, and testing Oct 31st high of 1.4281. Above current resistance line is the 90-degree, but we can activate the 45-degree as well.
As lurking seller await the EUR/USD bounce trade near 1.4300, let's review/update this big week of fundamentals.
09:00 is EU GDP.
The FOMC Minutes indicate some split regarding continuance of QE2, but formal statement came out unified. Meanwhile the U.S. still unable to agree on the budget.
After government representatives denied that there are fiscal problems, Portugal suddenly asks for a bailout loan. They are also conducting a bond sale today.
Spain has had the highest unemployment rate in the industrialize world at 20%, and their jobless claims rose 0.8% in March.
The anticipated ECB rate hike is sending alarms in Greece. It is obvious that GDP growth will be hampered, not that the Greek situation was looking good.
U.K. inflation, aside from oil, may be attributed to the VAT increase. They are expected to hold rates.
EUR/USD just bounce off of regular 138.2 extension 1.43465, based on fib plot Asian Low to Asian High. Gross +33 pips.
Previously, we had featured a GannBox_144 on the 4-hour EUR/USD, which pointed out turning points in between the vertical 1/8th lines. The start point was Jan 10th 12:00 price 1.28723. Height = 14,400 and width 360.
Attached is a continuance of that box. What we did was simply used the Cycle Lines tool to get extended intervals, since the box completed its 8/8th.
The mid-point of the 45-candle vertical intervals is 22 or 23.
The 138.2 extension achieved April 6th during the 12:00 candle is the 22nd candle midpoint (aqua arrow).
Report is that Portugal officially asked for bailout. Preliminary figure is $75 billion. Apparently market now concerned about Spain.
According to Bloomberg, 85% of mortgages in Spain are adjustable rates. With the ECB anticipated to raise rates, threat of an increase in foreclosures may trigger a bailout situation.
EUR/USD, ahead of ECB rate decision, is testing 61.8 retrace fib of 1.4288. This is also 45-degree level on 1-hour Gann_SQ9.
We believe that if the ECB goes on a schedule of several rate increases, it would cripple the nations that are in trouble, namely Greece, Portugal, Spain, and Ireland.
This is a very controversial move.
We thought we had posted this but are unable to find it, so excuse if it's a repeat.
Attached is the EUR/USD daily chart (6-day week) with the indicator Planetary SQ9 set on:
Planets: 0,3,0,3,0,3,0,3,0
Natal date = 1999.01.01
Angle = 180
This provides S&R.
****
Now, here's an even wilder astro technique applied to chart. Unfortunately, we haven't found a way to automate it (find an appropriate MT4 indicator or set existing indicator). Therefore, we refer you to a web site with appropriate dates at astropro.com.
Astrologer Richard Nolle's 2011 Lunar Apogee-Perigee Table
We are speaking of the Lunar Apogee and Perigee dates. Perigee is when the moon is closest to Earth, and Apogee is furthest.
The chart has vertical lines on these days, red for Perigee and yellow for Apogee. For situations when dates fall on Saturdays, we take the next day, Sunday.
This technique does an excellent job locating turning points. The PSQ9 provided a channel and S&R. The RSI set on 4-period assist in determining trade direction. Use of a 4-hour EFT trigger is a good idea, and chart has the histogram version.
USD weak across the board after anticipated ECB rate hike of 1/4%. Poll results project 2 more hikes in same amount at about 3-month intervals.
EUR/USD fib plot Low = Apr 5th 1.4207 and High = April 6th 1.4247 produced138.2% extension = 1.4401.
Bounce off that and round number 1.4400 for 17 pips ahead of European open.
Oil soars and can have drag effect on EUR/USD. U.S. government faces shut down if budget not done by tomorrow, which is also USD negative.
Most interesting chart is the CFD USOIL, as attached (4-hour). With indicator Gann_SQ9, we can see the ABC swings conform to important sequential numbers: A-B = 900-degree, B-C = 360-degree.
Currently USOIL is at the 765-degree resistance level 111.49. Ahead is 900-degree level of 113.08. This is same as the regular 161.8 extension and the FE 100.
Hi friends!
I've met Anna Monti on the web and her Forex Freebot. I find this stuff interesting for newcomers. Just for notice
still try to understand the fibonacci expansion or extendsion but if you enter on or at the 38% retracement level and extend it to the 100 to 161 level you sure profit there using the abcd trading method
Hello,
Each situation is different. We have to have other supporting reasons to enter at a certain fib ratio, to anticipate expansion.
Often times, the pullback is a support or resistance level seen on a wider fib plot.
Don't discount entry at the 61.8 fib since it is the last significant pullback level. Again, to maintain consistency, having other tools/indicators agreeing would increase probability.
All this being said, if entry at pullback is effected, it does not guarantee extension. However, it allows trader to make a profit to the Point B level. This means, trader can elect to take partial profit, move stop-loss, and trade balance for possible expansion.
There is always a natural bounce at Point B. It may resume direction and break, and it may not.
Calculate the various scenarios to ascertain results prior to entry. If the new stop-loss for the balance of lots is a negative (loss), you can use the risk/reward calculator we posted to determine break-even scenario. In other words, the calculator/formula tells you how many lots to partially exit.
Link to google docs, scroll to bottom and use the Partial Exit Calculator:
/go?link=https://docs.google.com/spreadsheets/d/1fCRJ7EuQosM56njb7cWn_DCD10_3f65zauj9LTgX0Ns/edit?hl=en&hl=en[hash]gid%3d0