A-B-C-D Trade - page 238
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2 dips were at Oct 11th 12:00 and Oct 12th 11:00, with price touching at or near -25 entry point. Both ended up reaching TP at +31.4.
The 2nd signal was also BAJA bullish divergence.
Price made one more visit to the -25 during Oct 12th 18:00. This was also last week's Moon 180 level, and is acting as a trend line support.
Plot high/high: Oct 4th 15:00 and Oct 12th 01:00.
Excellent compliance. Horizontal fib plot High = 1.3605 Low = 1.3462
After bouncing off low at Mars 0-degree during 00:00 period, resistance at mid-channel mean. Initial hit to mean at 02:00 was also at the horizontal 61.8, along with diagonal Moon 180.
After the 2 dips per last post, pair rose above Moon 270. Plot was Moon 0/270. The 17:00 candle closed at the -25 entry 1.36760.
S/L at -40 = 1.3696 + 3 pips spread = 1.3699 Risk = 23 pips
TP at +31.4 = 1.36150 + 5 spread/cushion = 1.36150 based on hit during Oct 12th 00:00 period. Reward = 61 pips.
R/R = 2.6:1
Move went on to hit the FC 61.8 precisely, during Oct 12th 01:00 period. This level was also support at last BUY signal as defined in last post. At this point the RSI(4) registered a 21 for oversold.
Another SELL signal occurred on the 12th, and we'll let you plot that one.
Euro under pressure now early European session.
More headline statements. This time from ECB, saying downside risk, etc., etc. Traders dumping Euro right now.
Fib channel plots:
EUR/USD Moon 90 to Moon 0-degree
EUR/CHF Moon 0 to Moon 315
After retracing, as seen on the 15-min, EUR/USD testing FC 61.8 as seen on 1-hour and per plot mentioned.
Next support at Mars 180 1.3689.
EUR/CHF just neared FC 61.8 per plot advised.
After retracing, as seen on the 15-min, EUR/USD testing FC 61.8 as seen on 1-hour and per plot mentioned.Next support at Mars 180 1.3689.EUR/CHF just neared FC 61.8 per plot advised.
Here are the two 1-Hour charts with plots.
1) EUR/USD is marked with 3 peaks over the last 2 days. This morning's peak was during 07:00 period at European open. Always be aware of session time.
The bottom collapsed on the Euro as we announced, breaking 02:00 pivot low of 1.3766 during the 08:00 candle.
Price hit the Mars 180 as anticipated, during 13:00 period (U.S. opens at 13:30), and probed to the FC 100 (same as Moon 270).
Notice overbought at all 3 peaks on RSI(4). Exit point/support at Mars 180 hit was at oversold level.
2) EUR/CHF This plot 45-degrees apart Moon 0/Moon 315.
Arrow points to this morning's 02:00 candle hit to -25 level, which registered overbought on RSI(4). As with EUR/USD, severe pressure on Euro enabled gains to downside.
We selected the FC 61.8 as support, which turned out to be turning point. We marked the adherence points of this FC plot on chart with yellow "X".
This area is also yesterday's lows, and near Mars 180.
Attached is a 30M chart with MMv1.0, and something different for those that don't have the PSQ9 charts up.
We also have a wider horizontal fib plot (white):
Low = Oct 6th 11:00 1.52700 High = Oct 10th 1.5687
Price hit the 127.2 level Oct 12th 14:30, just shy of MML 7/8th.
This was also BAJA bearish divergence at top. Round number 1.5800 here too.
Price declined to MML 5/8th, for about +112 gross pips.
High from wide plot same as MML 5/8th
Also hit just below that was the 50% retrace fib based on Low = 1.5541
S/L options included:
just above MML 7/8th
just above 127.2
just above MML 8/8th
EUR/USD 1-hour chart with MurreyMath1.0
Horizontal fib plot
Low = Oct 7th 18:00 1.3360 High = Oct 10th 16:00 1.3697
Price made a 138.2 extension during Oct 12th 17:00 1.3826, just above overbought MML +1/8th level.
BAJA bearish divergence at top.
Decline/retrace to High and near MML 8/8th, but only after 2nd hit to top this morning.
Bottom registered oversold on RSI(4).