A-B-C-D Trade - page 331
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Earlier, we gave you the FCT plot for EUR/AUD 4-Hour.
Find the plot shown on the right of the attached split-screen, for AUD/USD. There are also 2 other support levels at the same spot, derived from using other tools.
Both pairs have risen off support unearthed by plots.
Our last post should read: we gave you the FCT plot for EUR/AUD on the daily time-frame.
Let's now look at AUD/USD on the 4-hour.
Once again, we selected 2 obvious plot points for the Standard Deviation Channel (SDC)(orange color). There are the high of Dec 12th 16:00 GMT and Jan 10th 20:00 GMT.
1) We then proceeded to align the fib channel tool (magenta color) to the outer channel lines of the SDC.
2) We inserted indicator MurreyMath1.0 (MML).
3) Plot fib retracement (white color) Jan 4th 08:00 low to Jan 10th 20:00 high.
4) The blue FCT uses the same low/high as #3 retracement fib. We'll talk about this aspect in our upcoming on-line meeting Jan. 28th 00:00 GMT.
All plots converged with support at the 1.0495 area (arrow). RSI(4) was also in oversold condition.
We can also see previous congestion between 3/8th and 5/8th MML. The support was right in between, at the 4/8th MML (dark blue).
Trading the BUY position up 2 MML levels to 6/8th = 1.05591 (minus cushion). Gross gain about 60 pips. S/L options include placement between 4/8th and 3/8th (in middle plus cushion). About 16 pips.
R/R about 50/16 and ratio of 3:1
Chart 2 is a pic of this call when it hit support.
To wrap the week, let's review. We got 3 out of 4 pairs right in our observations.
We were wrong in the Double-Top of USD/CHF, but did comment that it was NOT the first revisit. We have always restricted bounce trades to first revisits, but went out on a limb for this occasion. This pair dragged by bullish EUR pairs.
EUR/AUD daily: Overlay of FCT onto SDC produce mid-channel where price bounced up Jan 15th. Near-Doji candle Jan 16th indicated high probability of reversal. Price moved up and met resistance at white trendline, as explained, taken with slope of two highs of SDC plot.
AUD/USD 4-hour: Price met 4/8th MML, which was also -68.6% level (magenta) of FCT plot overlaid onto SDC. Targeting TP 2 levels up on MML turned out to be the peak. Price reversed back down to same diagonal support. Any bounce trade upward had to be keep short since it was close to weekend.
EUR/USD 4-hour: Support at PSQ9 45-degree 1.3283 met during Jan 15th 16:00 GMT period. Bounced up to high 1.3403 area, where PSQ9 135-degree resides. Declined back to same support at PSQ9 45-degree to end week.
Have a nice weekend, and we'll repost Jan 28th 00:00 GMT on-line meeting/presentation details.
On-line meeting/presentation is now scheduled for Jan 28th 00:00 GMT:
Local start times in these countries:
Sunday Jan 27th
U.S. East Coast = 19:00
U.S. Mid-West = 18:00
U.S. West Coast = 16:00
Monday Jan 28th
Australia = 11:00
Tokyo = 09:00
Beijing, Singapore, Manila, Taipei, Hong Kong = 08:00
Europe Monday Jan 28th 00:00 - 01:00
Sorry, this area likely will have to access the video replay, since it is at an awkward local time. Video replay will be found at the Los Angles Forex Group.
Hosted by the Los Angeles Forex Group, and attended by forex groups in Chicago, Australia, and other international venues.
Web-based meeting platform is anymeeting.com
* see anymeeting.com web site for instructions
** we found this to be necessary for sharing only, but not required for viewing
This meeting will last about an hour. We will cover the family of SQ9 indicators (including murreymath1.0 and Gann_Box144), along with a technique that utilizes a similar concept.
Questions can be submitted and we'll attempt to answer them.
To attend:
1) join the Los Angeles Forex Group:
Los Angeles Forex Group (Los Angeles, CA) - Meetup
2) or p.m. to me your e-mail
You e-mail is required for the invitation, by the anymeeting platform. Although we have not received spam, you may want to use a secondary e-mail address anyway.
Thank you, and we trust this visual event will be of assistance.
- fxbaja
Here is the link to sign up for the Jan 28th 00:00 GMT on-line meeting/presentation:
Meeting Registration: Online Forex Group Meeting | AnyMeeting - The Completely Free Web Conferencing and Meeting Service
Here's a plot on GBP/USD Daily that nailed 2 pivot points.
Standard Deviation set on 2 Deviations.
Plot Points: Oct 31, 2011 and Sept 21, 2012
Objective is mid-channel price bounce trade or exit point there. This was met on Nov 14th, 2012.
A top was also hit on Dec 19th.
Price is current at the mid-channel again.
For interior S&R levels, align fib channel tool to upper and mid-channel.
The 4-hour HAMA_T3 also has acted as resistance, since Change in Trend (CIT).
EUR/USD 15-min intra-day, utilizes HAMA_T3 and MurreyMath1.0. Sessions colors also seen with indicator Time_Modified.
Price met resistance of HAMA_T3 at session overlap U.S. open, and bounced down.
Could have waited until price breaches support at 4/8th MML 1.3306, which was support for last few sessions.
TP 2 levels down (2/8th) + cushion. S/L options include 5/8th MML 1.3321 or top of HAMA_T3 zone about 1.3328/33 + cushion.
good day - I am quite new to this Forum, but I like very much your Visualisatíons of your trades and set ups
is there any link to download this 2 used Indicators HAMA_T3 and MurreyMath1.0 ?
Here you go. We'll go over some of the details with MurreyMath1.0 during our Jan 28th 00:00 on-line meeting/presentation.
Thank you very much for posting and sharing these Indicators, very much appreciated
are this online meetings also recorded?
so I could go through the older ones for keeping up to your knowledge