A-B-C-D Trade - page 239
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Here's the same EUR/USD chart, with SDC.
Plot for SDC high/high: Oct 10th 16:00 and Oct 12th 17:00
Confirmation of plot came in respect of mid-channel mean.
Bottom pivot Oct 13th 13:00/14:00 was right at the SDC lower channel line.
Another in cluster of support from various plots.
Several near-end of day shorts lining up. Just look at previous highs.
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Attached charts:
1) We had omitted the GBP/USD MML chart.
2) USOIL daily chart with Gann_SQ9 set at 360-degree interval. Last 3 swings were 1440/1440/1080. Current swing down hit 360 with yesterday's low. Some hits are based on close of candle that were near these intervals.
3) EUR/USD daily SDC we had mentioned the Oct 12th hit mid-channel mean. The Oct 13th bounce down went for +140 pips. Price still respecting mean as resistance.
4) EUR/USD 1-hour with SDC was posted after Oct 13th hit to lower channel. Since then, we saw price revert to the mean (mid-channel), and near MML +1/8th at 19:00.
This coincided with end-of-day, and anticipated decline, which fell back down to lower channel at 00:00 precisely.
5) EUR/CHF 1-hour PSQ9, with plot Moon 0/315. End-of-day 20:00 marked with green arrow, which was at previous high of 1.2375. Short went down to FC 31.4 which had been highlighted in previous post as being significant support.
The next intersection of Moon/Mars is around 09:00. Let's call it a 3-hour window, and that is center.
Note: Moon squared with mars 07:54
Unfortunately, 09:00 coincides with data EU CPI.
In any case, let's study movement as it pertains to the Shaker and Shaker OS trades.
07:35
EUR/USD bounced off 1-hour Standard Deviation Channel (SDC) lower line. This level also the Mars 225
Intersection with Moon 315 during this window.
Spain also downgraded yesterday, ahead of G20.
9:00 EU CPI come out one metric as projected and one slightly above.
12:30 Positive U.S. Retail Sales, above projection.
Overriding tone is based on G-20 meeting regarding EU debt. Report by Bloomberg has possible 50% haircut taken by Greek debt holders.
This would of course be Euro-positive.
Here is continuance of our EUR/USD 1-Hour SDC plot.
As reported, the 07:00 low was a precise hit to the SDC lower channel. The 13:00 candle closed at the SDC mid-channel mean, and we see a small pullback of that resistance now.
This was an excellent plot that the market respected on 5 occasions subsequent to plot. After the 1st or 2nd confirmation of S&R levels by price action, trader can be confident of its accuracy (high probability).
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On Oct 13th, we posted GBP/USD 30M with MurreyMath1.0 (MML) and Oct 12th BAJA bearish divergence on top near MML 7/8th level. The 127.2 fib extension level also there.
This attached chart is a continuance. The MML adjusts and that 7/8th is now relabeled as 3/8th.
Price declined to area of High 1.56877 from master plot, and at the 1/8th. We marked the 2 dips of 08:30 and 12:00 for BAJA bullish divergence.
The 1st dip was also a bounce trade off the High, for short-term gain.
If you have been working with Murrey Math Lines, you'll understand why this particular version advises to BUY/SELL at OB/OS levels. Notice the Take-Profit (TP) is 2 levels (2 X 1/8ths).
It is well documented that Murrey took his 1/8th intervals from W.D. Gann. He did, however, espouse the 2 X 1/8th TP strategy. He obviously was convinced that he found a behavior in the markets accordingly.
This example combines divergence, Fibonacci extension, and MML.
The blue arrow On Oct 14th 06:30 is simply a short off that previous Oct 12th high. Bounce went to the next MML level down, the 2/8th. This peak was basically at the 127.2 extension from a plot using the B-C swing.
Price made a 138.2 extension from master plot on Oct 14th 14:00.
We displayed 4 trades here. 2 off of divergence, and 2 were quick bounce trades. This does not include the bounce off the 138.2.