kwanann wrote:@monty
i actually missed this one, marked out this chart about 12 hours ago (ie at the end of the leg), by the time i saw it.. well you get the picture
USDJPY.png
@gertje
This is my latest experiment, double PA lines, the blue ones are based off a higher consolidation of price move. the small yellow lines are the intra day moves. i read off the M15 chart and use the show period separators to indicate when is a new day. The lines are typically drawn from peak high to peak low or vice versa. BLUE lines are new, i've been working on yellow lines for the past month
The
FIRST line MUST be at least the ADR of the pair, e.g GU has ADR of approximately 100pips +- 25pips. This move should start from either a straightaway, M or Stop Hunt formation. It would be nice if there is a stop hunt in between the move for the intra day. This line does not end when the day ends, neither does it start when the day starts, its just from a peak to the opposite peak
The
second line, is the fuzzy one, this is the one where the MM is not in play. So the line it may or may not be clear in its direction, it can go all over the place. This must not be mixed up with "holding the cross" (Look at the middle portion between the 2 lines
http://www.stevehopwoodforex.com/phpBB3 ... &mode=view). this line typically ends with a reversal pattern back into where L1 ends
The
third line.. well is the 3rd line, the range of the 3rd line needs to be about the same as the first line or slightly more
From the first to third line, it should take at least 2.5 days or more, depending on the move and what the MM is up to. If you were to draw the range from the first line to last line, it should be at least 2xADR of the pair
