[fxbaja]

USD/JPY

After a small extension during the Asian session, we needed to reset the fibs. Once again, applying the HAS allows us to see swings better. Low = 23:00 82.32 and High = 09:15 82.77.

A 38.2% pullback by 11:00 was followed by BOE and a gap up reaction to positive U.S. jobless claims data at 13:30.

In cases like this, we can see the market blow by a fib, in this case the regular 161.8 of 83.05, without much interest in a bounce. Overshot to 83.15 back down to 82.97, before resume strong upswing.

The regular 200% extension did hold at 83.22 at end European session, and produced a bounce back down to the regular 161.8. The was also a 13:30 30-min BAJA bearish divergence that shaved off 15 gross pips.

At time of writing, late New York price action rising to 83.34, just ahead of 138.2 price of 83.36 based on updated plot.

[fxbaja]

USD/CHF

Attached is 15-min chart with plot from Asian low .9579 to 08:15 high .9648 (CPI reaction). We were aware of recent high of .9660, but now can see the 138.2 at .9674. Pair made a precise hit during 13:45 candle and bounced to .9644 for +20 pips.

USD strength pushed pair to 161.8 (.9691), and after small overshoot to .9697, bounced for 36 gross pips profit. This was a micro-plot retrace of 78.6. Subsequently, hit round number .9700 and bounced.

GBP/USD was extremely volatile due to 12:00 central bank rate decision (no change) and the usual accompanying verbiage. This was followed by the 13:30 U.S. data which always affects this pair.

A 2nd hit to session low at 13:55 produced bounce up that ended at the regular 161.8. Plot was 07:45 high and 12:00 low.

Alternatively, plot from 2nd hit on low of 1.6011 to Euro session high 1.6084 (pivot can been seen on 5-min). Extended to regular 161.8 of 1.6129. Virtually no bounce off the 138.2, although it later acted as support during channeling.

Pair now back to 1.6084 at U.S. close.

[fxbaja]

EUR/JPY registered a BAJA bearish divergence 2nd peak on the 00:00 30-min candle. 15-min entry at 01:00 open price was 113.37 for SELL.

5 pips above high = 113.49 S/L for 12-pip risk

Retrace fib plot from Euro session low 112.60 to 00:00 high 113.44 resulted in exit levels:

23.6 = 113.24 net RR = 10/12 and .8:1
38.2 = 113.12 net R/R = 22/12 and 1.8:1
50 = 113.02 (hit 113.04 during 01:30 candle) net R/R 32/12 and 2.7:1

Past price action at 21:00 saw pivot low of 113.10 which would inspire us to make the 38.2 the target.

The BAJA gives us advanced notice, and we must use the time wisely to assess the approximate trade R/R. This means we would have a plan. You conduct enough of these trades at 1.8:1 and you WILL BE SUCCESSFUL.

At that R/R, and making 20 trades per month, and worst-case 55% win ratio, this is result:

USD 25,000 account

2% risk per trade

Net $5,580 per month average

Net $67,000 per year, a 268% R.O.I.

The risk/reward calculator's quick scaling calculator can be used for this assessment.

[fxbaja]

Several pairs have been sitting on break points, as USD strength continues ahead of 1st wave of data at 07:00.

EUR/USD looking to extend to 161.8 1.3538. Point B = 1,3560.

GBP/USD making a spectacular 100% retrace, just testing/hurdled 78.6 of 1.6038.

AUD/USD .9978 is Point B, with regular 138.2 = .9958, and 161.8 = .9946

USD/JPY testing regular 161.8 of 83.48 to upside

[jamesforu]

hi thanks for sq9
but this indicator doesnt work in my mt4 , pls guide me , no indication in my chart , thanks before

[fxbaja]

O.K., we are back on track after market digested data and European opens. Break points per last post still valid.

[fxbaja]

Originally Posted by jamesforu

hi thanks for sq9
but this indicator doesnt work in my mt4 , pls guide me , no indication in my chart , thanks before

You need to enter the input parameter for start price and direction (up or down).

Select a significant high or low for the start price. We posted several examples. Use "search this thread" and type in "SQ9" function of this web site to find examples.

Edited: Note there is another indicator with same name; SQ9 (Price) 22.5 Factor 56.

Another one is ###Gann_SQ9, which plots for you and adjusts automatically.

The purpose of the 1st SQ9 (Price) indicator is that we want to use a particular significant start price and we DO NOT want automatic adjustments.

[fxbaja]

EUR/USD below current 1.3637/41 are support levels 1.3523 and 1.3507 (100% retrace).

[fxbaja]

OK, EUR/USD at a good take-profit level 1.3523. Next is 1.3507 as mentioned.

Tighten S/L if going further down.

[fxbaja]

The closer EUR/USD gets to 1.3500/07, the more lurking automatic BUY orders are triggered....

EUR/JPY approaching its 161.8, and GBP/USD just breaking/testing Point B.