A-B-C-D Trade - page 283
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Our plot for this pair on the daily time-frame was made just after break or red 1/1 angle. That is the objective, to fit price action as it relates to that 1/1.
Start price = .94056 which was July 26th, 2011 low.
Height (prices) = 18000
(Note that this number is for 5-digit. For 4-digit, drop one zero to 1800)
Width (times) = default 360
***
Jan 18th closed below 1/1 angle. Subsequent retrace contained by same 1/1 angle Jan 20th/22nd.
Yellow 1/3rd horizontal (labeled Hline1 0) was resistance early in box. Revisit from other direction on Oct 25th produced 180-pip bounce up. This level of 1.00043 acting as support last few days.
The subsequent pivot low after Oct 25th bounce saw BAJA bullish divergence, with 2nd dip Oct 27th. Green sq_1 0 angle line acted as support.
CAD is commodity-sensitive, and usually trades with oil. Today saw negative GDP, and thus the longer wicks.
***
Repeat: For setting of height of box (prices), we use Gann ratios, such as 45, 90, 135, 180, 225, 270, 360. Add zeros behind those numbers. 4-digit brokers will have one less zero than 5-digit broker charts.
If chart is upside down, pull that arrow away from start point (up or down), keeping it on the same vertical alignment. Lock back in with double-click. We find that switching time-frame of chart UPWARD, and then back to desired time-frame, will correct this flaw.
Chart 1:
1-Hour Wolfe Wave plot
1) 1-26 14:00 GMT
2) 1-27 04:00
3) 1-29 13:00
4) 1-30 09:00
5) 1-31 14:00
Price at Leg 5 didn't quite make it up to the 1-3 trendline.
Andrew's Pitchfork (APF) plot at 1-4-5
Change name of APF to AL1.
Add indicator AML_v1-1 to get interior fibs.
Horizontal fib plot using Point 4 to Point 5.
Notice BAJA bearish divergence at top. Entry 17:00 $1743 Strong move down closes 16:00 candle at Lower_ML1 fib $1725. Gain = $18.00 gross
Chart 2 zooms in on 15-min.
2nd arrow points to quick short opportunity at Point 3 level, and near Upper_ML2 and 5/8th MML. Tight 61.8 also there (red)
Gann activation Bars can be found in Gann Is The Man thread, post #5. First attached EUR/USD pairs it up with MAT3 indicator for S&R. We also plotted retrace fibs.
2nd chart is EUR/USD Daily GannBox_144. Start price = 1.42464 Oct 27th
Height (prices) = 18000 (5-digit broker, for 4-digit use 1800).
Width (times) = default 360
This plot doesn't had red 1/1 close to price action. The white 1/4_angle1 0 acted as resistance during decline from start.
This was breached Jan 19th. The rest of the S&R is evident, including current yellow horizontal 1/3rd level support 1.3041, labeled as HLine2 0.
Deja vu with EUR/JPY 1-hour Wolfe Wave, Leg #5 a little short as found support at 3/8th MML.
Data scattered throughout day, check your full economic calendar. Busy week includes U.S. NFP and Unemployment Friday.
USD/JPY ended bounce after our last post on that pair. Plot APF to see S&R for yesterday. The 07:30 candle from this morning hit the 100% expansion of APF. Pair lingering in/near intervention zone.
EUR/USD dropping below 1.3200. Retrace opportunity here.
15-min time-frame allows us to get swing for retrace. The 22.5-degree level = 1.3188, which is where it is paused now. This is conservative TP.
Next level 45-degree = 1.3160
S/L just above 1.3218 high. Also had BAJA bearish divergence at top.
Always calculate your R/R in advance and scale number of lots to trade.
EUR/USD 16:00 1-hour candle set to close, as Doji or near-doji. This should prompt a little selling from traders using candle formations.
1-hour chart with Moon and Mars at 45-degree intervals. Pink line is last week's Moon 270-degree, which was on our last chart.
Moon 270 intersected Mars 135 at top. Near-doji 16:00 doji candle, which was 2nd peak of BAJA bearish divergence, followed by decline.
Yellow horizontal fib plot uses Low = 1.3767 High = 1.32175
Price now at this plot's 38.2 retrace fib 1.31785.
FYI: markets operating with backdrop of impending Greek debt deal, which reportedly is hours away.
Announcement of ratification will drive spurt upward in EUR/USD and related Euro pairs.
Chart 1 is pic of same EUR/JPY Wolfe Wave 1-hour chart. We can see several swing points also at MML levels. APF plotted at Points 1-4-5.
On Leg 5 ascent off -1/8th MML level, price stalled at APF middle fork. 0/8th MML also there.
Price retraced 35 pips off of 2-4 TL (orange dotted trendline), which is not part of the WW pattern.
And finally, the hit to the PAF's upper fork during Feb 1st late U.S. session.
****
AUD/USD mixed data at 00:30. Nevertheless, pair made 2nd peak of BAJA bearish divergence during 01:00 period. Mars 270-degree right there, along with 161.8 extension fib off B-C plot.
Decline found support at next Mars level down, near 127.2 fib.
***
EUR/USD in consolidation after retrace. USD/JPY tested 76.00 and bounced up 30 pips. Currently at 76.13.
Data 09:30-10:00, then FED's Bernanke testify before House Budget Committee at 15:00.