A-B-C-D Trade - page 272
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PSQ9 with FC aligned to Moon 0 and Moon 315-degree. These 2 levels contained price action from new week Jan 2nd, until Jan 4th.
We want to see adherence to FC expansion levels between Moon lines, which happened at the 161.8. The 261.8 just caught the pivot low during the 07:00 period.
Price also respected the the horizontal Mars levels.
1st chart is the updated picture after 13:30 positive NFP and Unemployment release on the 1-hour with PSQ9.
Wide fib plot was made (white): Low = Dec 29th 1.2857 High = Jan 3rd 1.3075
Directional fib plot (blue): Jan 5th 08:00 1.2943 Low = Jan 6th 05:00 1.2763*
* We had to move the low to the 1.2763, from 1.2776, which we failed to include in the last 15-min chart. This swing low enables us to see that pullback at the 23.6% fib
Notice the 08:00 and 09:00 candle bodies stay below that 23.6 price of 1.2805. And as mentioned on recommended exit, the Moon 270 and Mars 180-degree were also there.
The market pushed price through the Low after NFP The bottom of this move hit the 138.2 extension 1.2694 during the 15:00 period. This intersected the Moon 180-degree, just below the Mars 90.
2nd chart is the continuance of our GannBox_144 plot on the Weekly time-frame, which was posted yesterday.
The identified the red 1/1 angle line as immediate support. Since this line slopes up, price will increase for next week.
This is another example of using divergence and support & resistance. We are using Nov 29th.
Chart of the left is 15-min session colors. Fib plot is Asian High/Low of 78.285/77.880.
Chart on the right is 1-hour with PSQ9 Moon and Mar at 45-degree intervals. We illustrated the 2 peaks of BAJA bearish divergence at Nov 28th 15:00 and Nov 29th 01:00 based on RSI(4).
Horizontal fib plot Low = 77.445 (week's open) and High = 78.273 (Nov 29th)
ENTRY = 02:00 78.235
- The 15-min contains arrow at 02:00 entry point. We previously detailed optional technique of using the EFT as trigger for entry on lower time-frames, after divergence detected.
- Pullback after 06:15 pivot low was 50%.
Stop-loss options include B-C swing's 138.2 extension to the upside of 78.354 + cushion = 78.400. High/Low plot uses 15:00 high and 17:00 low.
TP = Extension 08:45 candle to the 127.2 fib price 77.773 on the 15-min. The 1-hour shows this is the same point as retrace to its 61.8% fib. The Moon 225-degree there as support.
Reward/Risk (net) = 43/17 and ratio of 2.5:1
The exit entailed getting out ahead of the 10:00 EU Consumer Confidence data release.
On 1-hour PSQ9 chart, we plot SDC using:
Jan 4th 21:00 and Jan 9th 08:00
Horizontal fib plot (white):
Low = 02:00 1.01441 High = 08:00 1.02294
Close of 08:00 period had RSI(4) overbought reading = 85
Entry = 09:00 open price 1.02250
Stop-loss above 08:00 high 1.02294 + cushion = 1.02344
Target TP:
61.8 fib = 1.01767+ spread = 1.01797 (R/R = 45/10)
Mid-channel = 1.01728 + spread = 1.01758 (R/R 49/10)
The Moon 180-degree will be in the area as well.
11:00 = German Industrial Production.
Edit: 09:30 EU data was positive, so we're seeing AUD/USD dragged up by cross-currency correlation, at the moment.
Yesterday's SDC plot and short ran out of time ahead of the 11:00 data, declining only to 1.02145 during the 10:00 hour, for about +18 gross pips. The end result would be 1.8:1 R/R.
Price stayed in consolidation and marked a high of 1.02436 as U.S. opened, and same as the Mars 180-degree level.
This necessitated an adjustment to the SDC plot to:
Jan 4th 08:00 and Jan 9th 13:00
Horizontal fib plot High = Jan 6th 13:00 1.02727 Low = Jan 9th 02:00 1.01441
During the U.S. from SDC upper channel, price declined one Moon level from the 180 to the 135-degree. That 16:00 low is also the 61.8 fib.
Australian data at 00:30 sent pair beyond the High and to the 138.2 extension, which was touched just last hour during 06:00.
Looking left, we can see this price level as support last week. It is now resistance.
Split screen, with 15-min session colors and MML on left. Fib retrace straight forward plot European session High/Low.
Chart on the right has 1-hour PSQ9 with blue trendline extending last week's Moon 270-degree into today. This was prompted by sight of 05:00 and 06:00 candle lows using it as support earlier.
The 1-hour uses wider fib plot, with High = Jan 8th 23:00 .95940 and Low = Jan 10th 05:00 .94640.
This is set-up for quick bounce trade BUY. The low was seen earlier in Asian.
Entry = about .9470
S/L = .9460
TP = .9480
10:00 GMT = EuroZone GDP
Some economic calendars do not list this. Be advised accordingly.
Chart on the left is 4-Hour with Gann_SQ9, set at 22.5-degree interval (angle).
We labeled resistance at the 22.5-degree level at the Jan 10th 16:00 and 20:00 candle high.
Chart on the right is 15-min session colors with MML. Labeled 09:15 candle that made the hit to resistance level, which is same as the 6/8th MML level.
The quick bounce down made it to the next level, the 5/8th, at 09:45. See 5-min for more detail.
6/8th level (entry) = 1.27869
5/8th level (exit) = 1.27716 + spread = 1.27756. Reward = 11 pips
S/L above Jan 10th high of 1.27918 = 1.27958. Risk = 9 pips
Well, there seems to be some confusion by the Forex media about the time for the EuroZone GDP data.
Looks like it did NOT take place at 10:00 GMT. Television financial shows did not mention it at all.
Plot Moon 0-degree to Moon 270-degree, allows more fib channels for today. We made this plot yesterday to fit Jan 8th 23:00 dip low to correspond to the FC 131.4.
Added horizontal fib plot High = Jan 6th 09:00 1.28113 Low = Jan 8th 1.26649
The FC 100, which is last week's Moon 180-degree is today's support, while the FC 61.8 is resistance.
This chart utilizes Moon and Mars at 45-degree intervals.
Key play was revisit of High yesterday during 13:00 period, for bounce down.