A-B-C-D Trade - page 304
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Continuance of last chart, on 1-hour time-frame. The signs for exit on BUY position ahead of data were given, and price only got as high as 1.2868 during the 07:00 period.
Negative high-impact EZ GDP and German ZEW drove decline which was further fueled by on-target U.S. data at 12:30.
Currently, pair respecting the 161.8 channel fib.
Continuance of last 1-hour chart shows 127.2 extension to downside, prior to European session, and supported by 0/8th MML at 1.2695, after yesterday's break of support at the 2/8th MML.
As traders speculated and reacted to early European data, price driven up to next resistance at 1/8th MML.
Market turned to anticipation of 18:00 FOMC at that point. However, news broke during 15:00 that the ECB was halting monetary operations with certain Greek banks. This cause a spike down to near day's Low, and whipsaw.
The 200% channel fib provided good diagonal S&R. We also marked 2 points of BAJA Divergence, one on May 14th, and today's pivot low.
MML, wide 161.8 fib (yellow), tighter 127.2 extension, and BAJA Divergence, gave hints for turn.
We have a 4-hour AUD/USD with a version of the SQ9 used for larger intervals. The start price is the Apr 27th peak price of 1.04734, and direction down.
The HAMA_T3 provides S&R trend. Opportunities to rejoin downtrend include the May 7th retrace that met T3 just below the 45-degree resistance level.
The next came after a bounce up off of the 90-degree. Reentry into the downtrend at the 68-degree level (1.01324) on May 10th during 08:00/12:00 candle period.
A tight fib plot (not shown) using high/low of May 7th/9th, produced a 61.8 retrace at 1.01419. This would be the smallest S/L option. Placement of S/L just above the 78.6 of 1.01750 provides more room.
The 61.8 did hold, and price declined.
TP1 = 1.00202 (90-degree)
Other TP levels to various extensions points and 113-degree.
R/R to TP1 (most conservative) = 100/50 and ratio of 2:1
No high-impact data during European session, but did see Spanish debt auction. Attached is a 30-min chart of EUR/USD with session colors and MurreyMath1.0 (MML).
Fib plot uses Low = 1.27005 (20:00) High = 1.27482 (01:00)
Tight range during Asian session, with breakout of low occurring immediately upon European open 07:00 period. Resistance at the 23.6% fib level 1.27369 gives S/L placement (add cushion/spread).
Blue horizontal line is yesterday's Low, and close enough to the 138.2% extension fib for a reasonable TP target, minus cushion. Let's call it 1.26870.
S/L = 1.2741
ENTRY = 1.2718
TP1 = 1.2687
R/R = 31/23 and ratio of 1.35:1
Subsequent false breakout of yesterday's low, during 11:00-12:00 was only a probe to the 161.8 and -1/8th MML.
Lurking BUY orders there at yesterday's low. Some of which had their S/L triggered by 15-pip probe below that level.
The 14:00 whipsaw candle is related to Philly FED figure that came out lower than consensus forecast.
Lurking bounce traders awaited price near Jan 13th low of 1.2622(9). It go as close as 1.2641 during this morning's 06:00 period. Therefore, those that had enough cushion for entry would have been in on this BUY.
The attached daily chart also plots fibo fan:
Low = June 7th 1.18754 High = May 4th 1.49389.
The fan's 88.6% is at point of anticipated bounce, further lending support.
May pivot highs are some of the TP options.
Here are 2 bounce trades off resistance.
Chart 1 is USD/CAD 1-Hour with PSQ9. Shortly after week's open during 22:00, pair made a revisit to May 18th high level of 1.0226, which is also where Mars 180 resides (1.0229).
SELL position landed on next Mars level down, the 135-degree 1.0180, where half can be exited. After several hours of consolidation, we exited balance half during 06:00.
S/L Risk = 18 pips
TP1 = 30 pips (ratio 1.7:1)
TP2 = 26 pips
Chart 2 is splat-screen EUR/USD. We have a 1-hour with Gann_SQ9 on left. BAJA bearish divergence with 20:00 and 01:00 peaks.
Price also made a hit to the 135-degree level during 2nd peak. Fib plot Low = 1.2641 High = 1.2738 produced 178.6 at 2nd peak (gray fibs).
Decline respected 45-degree (1.2755) and 67.5-degree (1,2726) levels for TP options.
Chart on the right is a 1-Hour with PSQ9 and Stochastic OB/OS candles. After this month's decline from the May 1st high of 1.3283,as can be better viewed on 4-hour with price price staying below the HAMA_T3. Price retraced 23.6%.
Today's 00:00 candle hit resistance at the Mars 180-degree. The 1-hour view shows red Stochastic candles above T3 during retrace.
The T3 also can be used as S&R for exit. The 06:00 candle ended at the top of T3. The price range of that 06:00 candle is top 1.2772 (Value 2) to bottom 1.2750 (Value 1).
Since the Gann_SQ9 measured up-swing from exact point of the May 18th low, the SQ9 levels were more precise than the PSQ9. The Gann_SQ9 is also in 22.5-degree intervals.
Continuance of our EUR/USD charts. The first attached chart is a 1-hour with HAMA_T3 and Stoch OS/OB candles.
We highlighted a SELL ZONE derived from May 14th support. Yesterday's (May 21st) U.S. session close saw price probe slightly above May 20th high and into SELL ZONE. The 19:00 candle was red indicating stochastic overbought.
The 2nd chart is a split-screen with 15-min session color with MurreyMath1.0 on left and a 1-hour of 1st chart on right.
On the left, we can see price met resistance at the 4/8th MML 1.2817. This level is also the 138.2% extension based on fib plot Low = 1.2724 High = 1.2792.
Chart on right gives T3 for S&R TP options, as well as SQ9 Mars 135-degree (1.2745) support, which has been hit.
Gain to Mars 135-degree was about 65 net pips. Targeting this larger TP level allows for more comfortable S/L just above the 161.8 extension price of 1.2834. This scenario was R/R ratio of 2.2:1.
EUR/USD continued its decline after our last post and stayed below the 1-hour HAMA_T3 (not shown). The 1-hour Ehler's Fisher Transform (EFT) was below the zero line, which gives us a similar picture of the trend.
The attached split-screen contains a 1-hour on the left that plots fibs: High = 1.27764 Low = 1.26137. We can see the 38.2% pullback yesterday late European, with candle bodies respecting that fib. This is a confirmation of plot.
As the market cycled through European data today, price briefly touched the 161.8 extension 1.25132, and bounced up to the 138.2 fib. The 08:00 candle's pivot low is also at the 1/8th MML.
The chart on the right is a daily and uses the same fib fan plot posted a few days ago. The bounce up off its 88.6% fan reversed per our more recent posts and broke that support, probing to the horizontal 78.6%. These 2 plots based on Low = 1.18754 High = 1.49389.
The daily also applied indicator SQ9 22.5 factor 56, with start price = 1.18754 and direction up. This will give us more S&R levels below the 78.6% fib.
As price broke through various support, we illustrate the year's low (Jan 13th) of 1.26299.
Using indicator SQ9(Price) and direction down, we can see this morning's bounce is off the 90-degree price level of 1.25108.
As price bounced up and off the 90-degree, which is the same as the 161.8, per last post, lurking SELL orders at the Low price of fib plot 1.2613.
Split-screen shows 1-hour session colors on left with MML and fibs. On right is 15-min with SQ9(Price) and retrace fibs from revisit of Low 1.2613.
Targeting TP on this short is at the 45-degree, which is the same as the 50% retrace fib. We can see this level acted as support during support during Asian.
S/L = 1.2627 (above Jan 13th Low of 1.2623)
Entry = 1.2610
TP = 1.2567 (plus spread/cushion)
Net R/R about 37/17 and ratio of 2:1.