A-B-C-D Trade - page 266
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1-hour GBP/USD with PSQ9
SDC slopping up was plot: Dec 14th 16:00 and Dec 15th 12:30.
SDC slopping down plot: Dec 13th 13:00 and Dec 19th 03:30, which is the tak at hand. We can see the 07:00 just now make a hit to the upper channel.
This confirms validity of plot, and can be used as S&R going forward, along with other tools such as the PSQ9 levels.
European session open ahead in 10 minutes. Another EU meeting on finance ministers scheduled today (phone conference call). Last Friday saw credit agencies announce downgrades and lower watch level on France and several banks.
1-hour with PSQ9. Wide horizontal fib plot using:
Low = Nov 25th 09:00 1149.40 High = Dec 8th 13:00 1272.60
Currently price near 50% fib 1211.
SDC plot Dec 8th 13:00 and Dec 15th 05:00
Price action seen in attempt to confirm plot includes hit near upper channel on Dec 16th 15:00, and to mid-channel this morning 03:00 - 05:00.
Horizontal fib plot (not shown) has this morning's pivot low as its 138.2. This intersected the mid-channel.
Pullback, prior to extension, was 38.2% and at Mars 315-degree (about 1219.80). We anticipate a bounce off the next visit to the Mars 315-degree level.
If we move the low of the fib plot to 05:00, the Mars 315 is near the plot's 50%. In other words, a projected quick short there.
Align fib channel to last week's Moon 180 to 135-degree. This results in fib expansion levels that caught 05:00 low with its FC 61.8, and provide S&R with its FC 31.4.
Price now attempting to hurdle horizontal 38.2 en route up.
Fortuitous timing (for certain shorts) of comments from ECB President Draghi, that it will not step up bond purchases. That occurred, reported by bloomberg, about 40 minutes ago.
ECB Won
EUR/USD marked pivot high of 1.3032, just shy of Mars 0-degree resistance of 1.3037 (and also Asian High). Price decline thus far 1.3010.
SPX500 marked high of 1219.40, which is area of our posted bounce zone. Now at 1217.40.
give view on xau ?? thanks
Made this plot earlier on 1-hour XAU_USD. with PSQ9.
Horizontal fib plot: High = Dec 13th 14:00 1668.79 Low = Dec 14th 16:00 15633.6
SDC plot: Dec 14th 16:00 and Dec 16th 12:00
Confirmation of plot seen at mid-channel and 1st hit to upper channel during Dec 18th 23:00 candle period.
A 2nd hit to upper channel occurred at 13:00 for short. This high hit the Moon 315-degree, about $1608 and also the 38.2% retracement.
Price is now trading below the mid-channel at $1590, facing support at the Moon 270-degree $1588.
Updating our EUR/USD SDC plot on 1-hour. Moved 2nd plot point to today's 13:00, since this marked new high.
Aforementioned pullback near Mars 0-degree (red) 1.3037, at 08:00 period, went for 30 pips gross.
Decline after 13:00 hard hit has just touched the SDC's mid-channel at about 1.3010.
Price made only a brief pause at tight 50% retrace level 1219, for about $2.00 gain.
Containment rested at the SDC's upper channel, which intersected wide 38.2% (green), and tight 78.6 (gray). Fib channel's -31.4 also there.
Strong move down during 16:00 U.S. session period, with decline nearing day's low of 1207. Natural bounce off 1208, and currently at wide 50% fib 1211.
We've illustrated this before. Apply automated Gann_SQ9 to chart, in this case XAU_USD daily. Angle (interval) set at 360, and kov_level at 12.
Then plot ABC based on generated zig-zag swings.
A = Nov 8th high 1802.80
B = Nov 21st low 1677.37
C = Dec 2nd high 1763.00
Dec 15th pivot low closed at the FE 138.2
Chart on left is 30-min session colors with fibs.
Chart on right is PSQ9 with SDC plot Dec 15th 12:00 Dec 19th 20:00
Breakout of Asian High nearing upper SDC channel, and at Moon 315-degree as resistance thus far.
There is 09:00 EU data, and prudent exit here.