A-B-C-D Trade - page 236
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Some USD pairs regaining a little ground as euphoric pop up from Merkozy wearing off.EUR/CAD hit Mars 45/Moon 180 intersection at 09:10 and immediately bounced down to its +31.4 (within 2 pips), marking 1.3940 during 09:15.This was all it got, to 31.4.AUD/USD bounced off -25 to intersection where it lies now.That's as far as it got.
GBP/USD bounced off -31.4 but probably tied to EUR/USD, which is trying to retrace from intersection and SDC upper channel.Only returned to intersection.
SPX has no direction, while at intersection.
Longs were good hedge against rising EURO due to Merkel/Sarkozy statement.
In retrospect, you can see the market react to that, and it was indeed "market-moving".
All 5 at resistance now at New york Noon.
(Lower right chart is EUR/CAD)
USD/JPY gained to upside at intersection of Mars 270/Moon 45.
Pivoted 07:00 candle, per attached 1-hour chart.
Resistance, and bounce, off last week's Moon 90 after achieving +31.4.
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Blue arrow points to last week's Shaker, Oct 6th 10:00 BUY, which was also successful to 61.8 of that plot (not shown).
EUR/CAD Shaker OS
Mars 90/ Moon 225 intersection
The -25 overshoot entry level hit by 16:00 candle high 1.4060...precisely.
Bounce down to the +31.4 price level of 1.4026 during same candle period.
S/L at -40 price of 1.4069 + spread Risk = 14 pips.
Reward = 29 pips after deduction for spread.
R/R ratio = 2:1
Note that the top at the EUR/CAD was a 138.2 extension of BC swing:
High = Oct 10th 13:00 1.40402 Low = Oct 10th 13:00 1.39843
This series of shorts are not at dead center of intersection. However, fundamentals are the same.
These 2 examples are not overshoot entries, but entries at resistance.
Attached is split-screen. Left is GBP/USD 16:00 bounce off resistance, and looking to +31.4 level next.
Right is EUR/USD same, and has hit +31.4 and probing for more.
As U.S. winding down, here are the same 5 pairs (incl SPX500) which have declined from aforementioned resistance.
GBP/USD to +31.4
EUR/USD to next level down Mars 135/Moon 270, just above +61.8.
SPX500 beyond +31.4
AUD/USD to next level down Mars 315/Moon 90, just above +61.8
EUR/CAD to +31.4. This was the only OS trade.
GannBox_144: Start June 7th, 2010 Low 1.18754 Height 36000 Width 720
APF: 1) July 27th High 2) Aug 29th High 3) Aug 4th Low
SDC: Aug 29th and Oct 4th
Believe we posted this GannBox_144 plot in November. After making a 127.2 extension to the upside on May 4th, 2011, pair consolidated.
Aug 29th was last High before major decline. We took this swing down for the SDC plot.
After marking low on Oct 4th, price vaulted back above red 1/1_angle2 0
Resistance now at SDC upper channel, same as APF upper fork, and GannBox blue 72 (50% of box).
Note: moving 1st date of SDC plot to May 4th produces interesting results. In this scenario, the mean (mid-channel) would be significant.
Last Thursday Oct 6th Mars 90/Moon 270 intersection had 3-hour window as seen in circled dots.
We plot fib channel from Moon 225 pulling up to Moon 270. Gold (XAU_USD) and some other instruments work better at 45-degree intervals due to the spacing.
Horizontal fib plot:
Low = Oct 5th 09:00 1596.03 and High = Oct 6th 10:00 1652.88
This was a Shaker OS trade, highlighted by additional tools.
BUY entry at -25 level price about 1636, including spread.
S/L -40 about 1630.
Risk = 6.00
TP1 = at +31.4 about 1645. R/R = 9/6 and 1.5:1
TP2 = at +61.8 about 1652 (and near High). R/R = 16/6 and 2.7:1
TP3 = at +100, same as Moon 315, about 1662. R/R = 4.3:1
Since this was a BUY, trailing stop with upslope of channel reduces S/L as time elapses.
Same plot from yesterday, using Moon 270 pulling down to Moon 225.
Pair extended down to FC 100 after euphoria wore off end of U.S. session.
Subsequently, made a move up that was contained by the -40 during the last 2 candles 06:00-07:00. This is about the same as the previous week's Moon 270. Top also the 127.2 of BC swing.
Current 07:00 candle pausing at Moon 225.
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If you make 200+ plots using this tool/methodology, you'll see that this revelation is very powerful (and free).
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Movement opposite yesterday's, with SPX500 and EUR/USD breaking pivot support.
EUR/CAD now below Moon 225
XAU_USD all the way back down to last week's Moon 270.