Fibtime
AUDCAD fibsThis pair found support on the 0,25 angle of the fan and broke resistance that was holding for almost a month. First objective on the 0,382 angle and also fib time from last swing.
Good luck and thanks for your comments.
EURAUD: Ideal opportunity for a pair tradeAfter seeing The Working Trader's idea I figured I could attemp a pair trade in this pair, to take advantage of the interest rate differential in both EURUSD short and AUDUSD long.
The entry will be a market order, but I'd have to see how the markets open tomorrow, I will update the chart by then.
For now, keep in mind that for pair trades, I aim to open a big position on each side, which thanks to the pair trade's more 'market neutral' stance, lets me use no stop loss and be somewhat safe, at least, as long as the ratio chart's setup is valid (in this case EURAUD).
The advantages are multiple, check out The Working Trader's post in 'related ideas' for more information, I detailed it there.
For now, if you want to enter this trade, find out the ADR value (atr of 1,5,10 and 20 bars added together and divided by 4). Once you know this you can calculate position size in base on your desired risk, per day.
You will have to watch the trade, unless you're deep in profit, it won't be a set and forget deal.
Good luck, and wait for the update regarding entry tomorrow.
Target is initially the time at mode one, but it can retrace the whole terminal wedge (it should for it to be valid, and it has to occur in 1/3-1/4 the time it took to be formed).
Cheers,
Ivan.
CrossroadsWe are in a crossroads between major trendlines here.
This forms a triangle pattern on which you can apply fib-time lines to predict a breakout (0.764 fib-time).
I added some interesting levels and other trend lines aswell.
How to trade it:
Depending on what side of the triangle (bottom / top)
the price is closer to while approaching the 0.764 fib-time,
you can start scaling into the respective trade.
For buys you can wait for breaks of:
231 level
yellow trend line / H&S neck line
blue triangle top
log downtrend (red)
260 level
For sells you can wait for breaks of:
apex level 218.33
210 level
200 level / triangle bottom
192 level
Targets are based on projections of the widest distance within the triangle, down / up from the apex.
For the up target the absolute value is used, for the down target the % value.
If you have any questions please leave a comment !
Good Luck ! : ]
complex consolidation, timing & targetsDepending on what side of the triangle (bottom / top)
the price is closer to while approaching the 0.764 fib-time,
you can start scaling into the respective trade.
Make sure not to buy into a potentially premature breakout at point (E).
Targets are based on projections of the widest distance within the triangle, down / up from the apex.
For the up-target the absolute value is used, for the down-target the % value.
If you have any questions feel free to leave a comment bellow.
How to properly scale your chartsMany charting tools require a proper scaling of price / time.
This is the method I'm using to scale my charts if needed.
1) Draw a rectangle somewhere on your chart
2) Set it's coordinates to 1:1
So if the price coordinates are 300/350 , set the bar (time)
coordinates to have the same difference of 50 in this case
3) Draw a "Fib Speed Resistance Arc". You can find it in the
second tool bar menu where you also find the Fib Retracement
4) Set it's PRICE coordinates to the same you have set for the rectangle.
For both BAR coordinates you use the smaller number from the rectangle bar coordinates.
Now after you have done that drag one axis (price or time) and move it around.
Watch the upper right corner of the rectangle cross with the fib arcs.
If it crosses with the 1 fib arc, you have a 1:1 scaling.
On the chart example you can see it cross the 3 fib arc so the scaling is 3:1
If you found a nice scaling, right-click the price axis and select "Lock Scale"
so you can zoom in and out of the chart without changing the scaling.
You can try the following scaling ratios:
0.5 / 1 / 1.272 / 1.414 / 1 / 2 / 3 / 4 / ...
also all the X.618 ratios could be usefull. (0.618 / 1.618 / 2.618 / 3.618 / ... )
Let me know how this works out for you and feel
free to leave a comment if something is unclear.
Cheerz : ]
Balancing Price And Time in EURUSD at the 0.887 RetracementHi,
As you know, EURUSD has been bearish for quite some time but after the NFP release today it has shown bullish reaction to the news.
It could be for the end of the week and profit taking.
Technically speaking we are at 0.887 retracement ratio right now both in Time and Price.
I personally took this trade because such a balance doesn't happen often and when it does, their synergy causes a really high probability trade.
On the other hand, the stop is too tight, so if it fails I won't lose much.
The target has been set to the previous low, because according to what EURUSD has been doing this trade is expecting a new low.
Thank you for reading this.
Davood Wadi
ABCD pattern due to the bullish price actionThe current price action shows corrective movement, lack of interest in the downside and thus a bullish sentiment.
FibTime has already shown a confluence of ratios in the big bearish candle, indicating a reversal to the upside.
I'm going long after the break and close above the trendline only if no new low is made.
Anticipatory layout with important trend lines, levels, timefibsWe might be cought in sideways within the red channel for another 20 days.
I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago.
The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ).
The question is what will happen after the yellow box? The red box like last time?
Then we will definitelly see 280 again.
Or if 320 holds (looks like some strong demand is sitting there),
we'll see another pump like seen in the last green box !
Also check out the time fib analysis :
0.382 & 0.618 were important points in time, so 1 will probably be important too! Likely a major low/high in price.
The target for a bullish move is the thick blue dashed line, which is this years top resistance trend line. You can expect sellers there.
Gold Price and Time Squaring Using Fibonacci NumbersAs an update to the previous post, 1201$ did act as a short term resistance, pushing the price back down to 1142 in a few days.
Now, I have marked the low at 1131$ as a Major Low for various reasons:
1st, because it has shown impulsive price action which we have not already seen since the Major Top at 10th of July.
2nd, because We've counted the Elliott Waves and this low was the end of the 5th wave and the top at 1220$ retraced 38.2%
of the whole bearish wave.
So if this is our new Major price extreme, we are going to change our anchor price from 1345$ to 1131$.
I have found the daily bar in 1st December 2014 a really crazy bar.
Here's why:
From the low at 1131$ to this bar's top, it is 89$ difference.
Also from the start of the downfall for Gold, which happened in 10th of July, to this candle's date is exactly 144 Calendar Days.
It seems to be an example of squaring in price and time.
I have opened a test trade just to meet the lows.
If this analysis turns out to be true, we will be seeing new lows for gold in the following weeks.
As always, I'll be happy to hear your comments.
And until next time,
Take care.
A composite view of Yet Crosses - SHORTComposite Yen crosses provide an interesting way to look at the unfolding Yen scenario.
I'm applying my own ARS Gann Lines here along with fib-circles for timing and a fan for slope...
The Gann -45deg ( dashed yellow ) and -90 deg lines ( dashed red) provide targeting guidance for major moves to come.
The equations use square root values plus or minus the required angles. Any angle can be calculated, but the cardinal angles have the strongest influence, so I use 45,90,135,180...
Each line is calculated as: Y = ^2 Once scaled for the instrument it shows related ratios of the seed value. The harmonic range of the seed value is plotted for each angle, 8 above and 8 below the seed value.
Zoom out on this chart to see how it fits this composite instrument.
Additionally the TV Elliott Wave tool shows a complete 5 wave move to the upside and Fib analysis shows the present high is 3 X wave 1. And the current top is also a prime number!
Whoa.
Will you Short the Yen next week?
