[fxbaja]

With HAS candles, we turned on the wicks in order to view the S&R better. The APF plot:

Handle = Feb 13th 22:00 low
Upper corner = Feb 14th 15:00 high
Lower corner = Feb 14th 18:00 low

Add interior fibs with AML_v1-1.

Price respected support at 2/8th MML, as it did throughout the week. The bodies of the HAS candles are respecting the Lower_ML2 fib. That's the first fib level inside the APF, above the lower fork.

Plot horizontal fibs (not shown) using upper and lower corners of APF, for more S&R.

[fxbaja]

AUD/USD just made its 161.8 extension. The attached chart is a 30-min with Keltner Channel (KC) HAS, and MML.

Although price is outside of the channel, and making a small retrace, why not hold out for the better bounce opportunity?

That would be the Feb 13th high of 1.0777, which is near 5/8th MML. Tight S/L and TP1 option back down to 4/8th of 1.0742.

Footnote: Reversal HAS at the 20:00 candle period.

[fxbaja]

Same indicators on GBP/USD. You can save it as a template of course.

This pair had BAJA bullish divergence at the bottom 19:30. Candle bodies respected 1/8th MML. Price re-entered Keltner Channel and turned blue starting with the 20:30 candle.


Low for S/L = 1.5643 (19:30)
Entry = 1.5653 + spread (20:30)
Peak thus far = 1.5734 (05:30)
161.8 extension = 1.5727 (05:30)

[fxbaja]

07:00 had mixed German GDP data. 09:30 through 10:30 contain other high-impact data. Be guided accordingly.

China just voiced support for Europe, naming possible investment in bailout fund.

[fxbaja]

Originally Posted by fxbaja

AUD/USD just made its 161.8 extension. The attached chart is a 30-min with Keltner Channel (KC) HAS, and MML.

Although price is outside of the channel, and making a small retrace, why not hold out for the better bounce opportunity?

That would be the Feb 13th high of 1.0777, which is near 5/8th MML. Tight S/L and TP1 option back down to 4/8th of 1.0742.

Footnote: Reversal HAS at the 20:00 candle period.

Here's the 30-min chart action on that reversal. Move just arrived at the 61.8% retrace fib (plot using Feb 15th 01:30 low). This fib can be seen on the 2nd chart split-screen.

Chart with HAS shows volume bars red on 4 blue candles during leg up to top, before decline.

An automatic trade can be used for these set-ups.

[fxbaja]

Our alarm sounded off as price approaching level for short.

Wolfe Wave on 4-hour. APF plotted on Points 1-3-4. That projects an upper fork line at about 1.0033. This is the resistance for short. Add AML_v1-1 for interior fibs.

Can add S&R with MML and/or retrace fib plot. Drop down to lower time-frame to get more levels on the MML.

[fxbaja]

Here's a 1-hour Standard Deviation Channel (SDC) plot, using Feb 3rd and Feb 8th highs.

The attached chart uses HAS candles with the wicks turned on. Price is approaching the SDC lower channel of 1715.

The MurreyMath1.0 generated 3/8th MML level at 1711, which acted as support on Feb 14th. S/L can be placed just below that.

TP targets include 5/8th MML 1726.

[fxbaja]

The CFD QQQ (Index for Nasdaq 100) Daily chart has Wolfe Wave's leg 5 just hitting upper 1-3 trendline today.

It has come down 100 points thus far. Plot APF at 1-4-5 with interior fibs for S&R.

[fxbaja]

As 08:00 is approaching, we has developing 4-hour Doji candles or almost colorless, on Gold and USD/CAD. Gold BUY did trigger per recent post.

With the European session also set to open at 08:00, we understand things can change very quickly. Check full economic calendar as usual.

[fxbaja]

The breaking new is Greece is seeking a bridge loan to make upcoming debt payments.

This means EUR/USD (and correlated pairs) and Gold pressured down.

USD/CAD rises.

This is negative both our examples. This is a world event and trumps the technical analysis, for now.