A-B-C-D Trade - page 255
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Pair under pressure early Asian. We took a pic of 3 charts.
A 4H GannBox with breach of 1/1.
15-min session colors with Friday Low. Bounce up earlier, now below.
1-Hour with 2 SDCs. Breach of both plot's mid-channel.
Back later with update.
Attached is link to bloomberg article highlighting 10% reduction in net longs in certain commodities futures and options groups.
Hedge Funds Cut Bullish Bets by Most in Seven Weeks on Europe: Commodities - Bloomberg
If we look at the 4-hur or daily chart, we can see that the current AUD/USD (commodity-sensitive pair) price level is right at the Sept 27th level.
That was the last time such a decline in net longs was seen. Those that value this correlation would consider shorting this pair.
One of the more unusual plots for shaving quick pips might be:
Handle = 11-17 18:00 low 1.00140
Upper corner = 11-18 12:00 high 1.01069
Lower corner = 11-21 01:00 low .99421
Fib channel aligned to upper and mid cork lines to get interior fibs.
The 61.8 caught the high on 04:00 period. marking price of .99857, and used as resistance.
Horizontal retracement fibs from upper to lower fork, produced 23.6% at .99810.
The 04:00 closed below the 23.6 and practically a doji star. Short open of next candle at 05:00 .99781.
S/L just above 04:00 high.
Target (program auto TP) same Friday low of .9964 plus spread = .9967.
Just hit.
Edit add: confidence reinforced by our SDC plot, with the 04:00 doji at mid-channel mean. This peak also is the 78.6 of plot using 00:00 high for plot of horizontal fibs.
Aggressive thrust pro-USD.
Now have time to give specifics. AUD/USD 1-Hour
Wide SDC high-to-high (Orange): Nov 8th 20:00 & Nov 13th 23:00
Tighter SDC low-to-high (Pink): Nov 17th 01:00 & Nov 18th 12:00
Horizontal fib plot:
High = Nov 18th 12:00 1.01069 Low = Nov 18th 07:00 .99633
The Friday Low .9963 was breached and probe to 42. Pullback, as describe, made doji at 04:00 mid-channel mean on wide SDC (orange).
Thrust down broke low of 42 and made a 127.2 extension to .9924 this hour.
Here's a pic of multiple charts on one screen.
The upper left is EUR/USD.
Lower center is PSQ9 with FC plot off the APF mentioned in previous post. Current price at 131.4 and intersected by Mars 270, acting as support for now.
Upper right is AUD/JPY.
Lower right is JPN225, as CFD for Nikkei Futures.
All going in same direction. It's quite busy, but as you gain experience you can elect to monitor instruments that have correlation.
1-hour with PSQ9, and FC plot from last week's Moon 90-degree to Moon 0-degree.
The 08:00 candle broke through Moon 0-degree and found current support at the 31.4.
Lot of sentiment to USD strength.
Didn't have time to put this up earlier. Plot on 4-hour Nov 1st 12:00 & Nov 10th 04:00.
We aligned FC to SDC's mid-channel and lower channel. We then dragged it down one level, with top line of FC aligned to SDC's lower channel.
The dip on Nov 10th to -31.4 gave us opportunity to trade revisit 11-16 00:00.
On Nov 18th, price made a hit to the SDC upper channel. Strong bounce back down to the 31.4 to end week.
Monday Nov 11th (today) saw 00:00 candle make a near-hammer at the 61.8. Price declined during the next 2 candle periods, making a puse at the 31.4 before the hit to the lwoer channel just now.
That EUR/USD 4H SDC was actually posted on the 15th, as part of a double SDC chart.
Here is that double SDC, with the current price.
One of the useful items (subsequent to our last comments on 15th) from the wider plot is the FC 100, which was aligned to wider SDC upper and lower channel.
This FC 100 caught the 11-10 04:00 low......and Friday Nov 18th high at the tight SDC's upper channel.
The FC 131.4 caught the dip on Nov 16th 04:00.