A-B-C-D Trade - page 183
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EUR/USD intra-day retrace plot; High = 1.41301 and Low = 1.40504.
Pair made it to the 23.6 of 1.40692 and bouncing down. The 15-min chart will show candle bodies at the 23.6 level.
EUR/USD, retraced 38.2 and also had Median line of APF as resistance. Now at 23.6% fib (white on last chart).
Look for next key support:
127.2 = 1.40287
138.2 = 1.40200
161.8 = 1.40011
Low = 1.39853
AUD/NZD has been in consolidation as well. The Moon 180-degree support now being tested.
This pair and EUR/USD had been in divergence but ow closer to moving in tandem.
No major data during European.
Attached is AUD/NZD. This short was one of the trades featured on CNBC's Money In Motion last Friday. 22:45 was New Zealand CPI, which was projected to increase. Figures came out higher than expected.High = 1.30019 Low = 1.26749138.2 = 1.25500, hit 21:15 just after week's open.!27.2 is same level as Mars 90-degree and acting as resistance.161.8 = 1.24728, same as next Mars level down, the Mars 0-degree (0-degree is the same as 360-degree).We also attach a Daily chart on this pair with APF plot. We can see pair breach Nov 19th low of 1.26971.
AUD/NZD hurdled Moon, but ran up against trend line based on low pivots of July 18th 00:00 1.25469 and 03:30 1.25517.
The horizontal 138.2 (blue) per above is 1.25500 (correction - hit 22:45).
Thee fundamental traders had no economic data to trade off of, which usually results in a lot of technical trading.
The last charts on this pair had the APF and interior fibs plotted from indicator AML. Adherence to the median line (middle fork) was evident. This mornings dip at 07:00 just about touched the Lower_ML1.
BAJA bullish formation: The 2 dips were 01:00 and 06:00. Notice the 2nd dip was NOT the 07:00 candle, which was lower. The reason for this is that the 2nd dip must be the 1st candle to drop below the 1st dip.
The 15-min EFT trigger kept trader out of trouble by signalling a BUY entry at 08:00 open price of 1.40458.
The HAMAT3, which is overlaid onto the chart, contained pop up. Candle bodies respected median line as resistance. At 1st hour of U.S. session, where stocks are down, we can see USD push back down in strength.
Added forex freedom bars to show trend across longer intervals is down. The EFT is also below zero line.
Since the adherence to the APF and interior fibs have been excellent, we've attached this chart as a template, so you don;t have to rebuild it.
We just re-posted the indicator AstroIndicator4 with accompanying files, in the Indicator section of this site, under "Gann Is The Mann" thread. Link:
https://www.mql5.com/en/forum/198881
Attached is a chart of EUR/USD Daily with the indicator. We labeled turning points with blue arrows. We also added the RSI(4) set to 4 period. We highlighted the oversold or overbought readings during the indicator's signals. If price is above 50% line, look to sell at signal. If price below 50% line, look to buy.
We can view the AstroIndicator4 values in data window. This ensures we have the right day with the highest reading.
Although we've seen these types of posts before, they seldom tell you how to actually trade the signals. The RSI(4) is just one technique, you may have your own preferences for S&R, filters and trigger.
We can also look for BAJA divergence, and use other S&R such as PSQ9 and MurreyMath.
Attached is the same chart as last post, but with a 2nd application of the AstroIndicator4. We used the natal date of 01.01.1999 for EUR/USD, for the 2nd application.
We marked the turning points generated by the 2nd application in yellow. There are twice the number of signals, as we also get a signal at the bottom of the swing on the blue indicator line.
Signals are when blue indicator line is at top or bottom. However, it does not denote direction. That's why we added the RSI(4), and S&R.
Although we have MurreyMath1.0 on the chart, understanding the movement/swings as they relate to fibs is still going to offer the best guidance.
We plotted fibs based on High = May 4th 1.49388 and Low = May 9th 1.42530. This could have been "fitted" and recognized after the 138.2 extension to the downside occurred.
Thereafter, the fibs helped by providing S&R near the signal days. That includes using them for S/L.
Remember, nothing is a stand-alone indicator or tool. Merge your trading acumen with tools you are comfortable using. Takes a lot of study and work.
Don't have to have ten tools/indicators on our charts. just pick the ones you are confident about. Set your foundation on S&R, and use the other things as accessories.
Attached 30-min EUR/USD chart employs indicator SQ9(Price), with start price input of 1.38363 (July 12th bottom).
Fibo fan: High = July 15th 16:00 1.41864 Low = July 18th 14:30 1.40174
We see BAJA bearish divergence: the 1st and 2nd peak on July 18th 20:30 and 23:00 candles.
Week's high upon open was Sunday July 17th 1.41326
The 2nd peak of divergence was at that high level. It is also the 225-degree level.
Plot of retrace fibs:
Low = July 18th 14:30 1.40174
High = July 18th 23:00 1.41351
23.6% = 1.410073 (hit 01:30)
The 203-degree = 1.41022 (hit 01:30)
38.2% = 1.40901
In hindsight, Low = July 18th 17:00 would make the 203-degree the same as its 38.2% retrace fib (testing now).
Fibo fan's 78.6 ray provided resistance.
This is zoom-in on chart action as price has reached the 38.2% of stated plot, 1.40901. We can see pivots in this level when looking back.
Our PSQ9 has Mars 180-degree at just about the same price level as the 38.2. Pair trying to fight through this support level.