A-B-C-D Trade - page 144
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S&P downgraded U.S. to negative outlook. AAA rating remains for now. Equities markets plunge. Flight to safety to JPY and USD. Oil down, gold up.
Attached is continuance of commentary on EUR/USD 30-min chart using PSQ9 indicator as support & resistance, with accessory indicators. Bearish tone was in place since start of week, with brief reactionary up at U.S. open due to S&P news.
We removed the HAS candles enabling us to view the hits on the lower PSQ9 support lines. A short after the close of the 06:00 candle, and right at the upper PSQ9 (red color), when RSI(4) showed decline.
15-min trigger EFT SELL entry at 06:30 price 1.43782. When activating HAS candles (not shown), they stayed red all the way down to the next PSQ9 (red color) for +100 pips.
After a pivot at U.S. open, pair made a thrust further down to complete a regular 161.8% extension (blue fibs) for +195 pips. The candlewick also touched the next PSQ9 (green).
Note that the recently introduced indicator CPD also had turns identified.
No BAJA divergence at the top of move since 1st peak's price was higher than 2nd peak.
We posted charts with the indicator Time_modified2 that was not adjusted to reflect time change. The formula needs to be changed in order to avoid constantly adjusting in the settings. This has been done now and we attach it herewith.
You can make adjustments that suit your needs, such as color, etc. Highlight indicator on Navigator sidebar, right click. Select "modify", which will get you into MetaEditor where you can make changes to the formula. Click compile, then save to your MT4 platform's indicator folder.
Here are links to major stock market open/close times, and time zones.
List of market opening times - Wikipedia, the free encyclopedia
The World Clock – Time Zones
The world clock also has section for daylight savings change-over dates for each country.
EUR/USD GannBox_144 on daily chart. Height 18000, and width 360. The 138.2 and 161.8 extension levels are about same as GannBox 108 and 126 horizontal levels.
Middle of 1/8th width intervals are marked with "21" and happen to be pivots. Nice S&R by various fan lines as well.
ABC
A = Mar 11th 08:00 low 1.37509
B = Mar 22nd 08:00 high 1.42471
C = Mar 27th low 1.40197
FE 100 = 1.45159 (hit Apr 12th 12:00)
Wide fib plot:
Low = Mar 11th 08:00 low 1.37509
High = Apr 13th 08:00 1.45193
Pair consolidated at 38.2% fib level, same area as Point B.
Break of diagonal trend line (not shown) on Apr 18th 04:00 candle.
Nice adherence to PSQ9 S&R.
Declining strength from top, as red lines point out.
Here is the Contract For Difference (CFD), US30, which is similar to the DOW 30 futures.
1-Hour chart has HAS candles, divergence indicators, and Demark TD Sequential which counts during swings. 9 and 13 are the turning points.
We can see it catch the last 4 major pivots with 9s.
Fib Plot on attached 30-Min chart:
High = Apr 15th 07:00 1.44991
Low = Apr 18th 15:00 1.41558
Low was also BAJA bullish divergence. Pair in consolidation thereafter, in after math of reaction reportedly due to the S&P announcement.
The credit rating agency also stated that there is a 1 in 3 chance that they would reduce the AAA rating of the U.S. within the next 2 years. Presumably, the 2 year time-line is tied to the next elections.
There was a double bottom during Asian session (red arrows Apr 19th), prior to the breakout of the Asian High. The indicator Heiken Ashi MA (HAMA) had the 30-min candle breaking trend/resistance at 06:30 close.
The HAMA was applied to another chart with the PSQ9 and divergence indicators (not attached).
Breakout pivoted at the 38.2%, and made a 138.2% extension to 1.43275, which is also the 50% retracement fib. Gain about +70 pips.
We haven't posted a chart on USOIL for a while, so the attached is a 1-hour with indicators Gann_SQ9 and HAMA.
Wide fibs in yellow: High = Apr 10th 113.44 and Low = Apr 13th 105.29.
Tight fibs not shown, but white labels define High - Low and extension.
High = Apr 15th 16:00 110.86
Low = Apr 18th 16:00 107.08
138.2 = Apr 19th 13:00 106.00
The HAMA provided trend and candles stayed below bearish HAMA candles, after breaking through the 90-degree level. The HAMA allowed trader to stay in trade through pullback.
Obviously, stop-loss can be placed above HAMA. This indicator also has an alert.
Notice extension swing to the 138.2 was practically the 360-degree level.
That bottom also triggered a BAJA bullish divergence, which saw a bounce at U.S. open, to the yellow 38.2% fib of 108.40.
hi wre the gold will stop, expected high ?? any correction shall we see ??? pls giv comments .thanks for all
james, obviously we are not in the predicting business and are not good at it. We can only try to make observations from the charts. When applying the murreymath lines and fibs, short-term outlook:
Today, XAU_USD is at the 8/8th level and overbought at price 1,500.00
Low = July 28th 1164
High = Dec 7th 1431
138.2 = 1536
The RSI(4) on the daily chart has made a bearish divergence against price candles. Look for the 4-hour EFT to close a red bearish histogram bar.
The tighter fib plot is:
Low = Jan 28th 1308
High = Mar 7th 1445
138.2 = 1497 (hit Apr 18th) which is about same as MML 8/8th.
161.8 = 1529
The 4-hour Gann_SQ9 has upswing hitting 1440-degree level of 1505.44, which is significant due to the 144 base number. It is bouncing down now.
The 4-hour XAU_USD (gold) with Gann_SQ9. To expand our comments, note that the swings Apr 1st/ Apr 10th/Apr 20th were;
1440-degree, 720 degree, 1440-degree
Thus, a natural bounce down is in order.