This is what I see on U/Fciliano wrote:EURCAD just had a three day push and broke a lot of old resistance slightly. Watching at the moment to see if it does anything interesting.
USDCAD looks similarly at a top level.
USDCHF looks like it had a three push down and may be rejecting right now.
Kwannan,kwanann wrote:Not really, it depends on a few things, current level count, M or W formation, peak high/low etc..djhenry1981 wrote: is it fair to say the true direction after the Asian Breakout is actually the direction of the l breakout?
Basically, we get the Asian range, wait for the break, then the stop hunt which usually goes in the opposite direction tagging the bottom of the range, re-tests and then goes in the direction of the original breakout?
it all depends on how the contracts are structured, where is the accumulation etc..
hehehehehehehehe the Straightaway Trade.... remember it happened to me last week on the GBP/USD..a Long Trade that was , Sean and yourself pointed that Setup out when I was trying to Set up some Charts at the 3 Musketeers Zone....
xrismak wrote:Kwannan,kwanann wrote:Not really, it depends on a few things, current level count, M or W formation, peak high/low etc..djhenry1981 wrote: is it fair to say the true direction after the Asian Breakout is actually the direction of the l breakout?
Basically, we get the Asian range, wait for the break, then the stop hunt which usually goes in the opposite direction tagging the bottom of the range, re-tests and then goes in the direction of the original breakout?
it all depends on how the contracts are structured, where is the accumulation etc..
Yes all of the Above mentioned indeed, I just also felt like adding to your Point , the Dependence on where most of the Retail FX trader's Money is HANGING also Counts, let's all remember that if the fox can make more money going Short, it will Reach out and Spike all those Longs maybe with 2 Bursts High on the One Hour or probably One High Burst on the H4 snatch all the PENDING LONGS above a certain POINT at a CERTAIN PRICE RANGE and Reverse out Low Sharply.....
Happy Trading Y'all,
xrismak
yup looks like itciliano wrote:AUDUSD may be starting its third push upward on D1. Just printed a W on the H1 / H4 after the Fed nonsense. Also hit about the top of the 2nd D1 level and seems at the moment to have turned.
Hi all,Captain Jack wrote:
Let me make one thing perfectly clear. When looking for levels or counting levels, I am not talking about the color of a candle. I have stated that the 3 day cycle is 3 days of rising or falling price, that begins from a peak LOW or a peak HIGH. Nowhere do I say to check the color of a daily candle or any other candles to determine the levels or counts.
What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
In the NZDUSD example, did price rise from the PEAK low on the 20th? YES! It is the PEAK low and that is level 1. Don't try to add a bunch of stuff like GMT and candle color to something as simple as 3 days of rising or falling price, from the peak high or peak low.
When it comes down to it, as stated, I prefer a broker whose D1 candle closes at 5PM est to coincide with NY close and who doesn't use a Sunday candle. BUT, it doesn't matter in the counts because you begin from the peak low or peak high. Does it rise from the LOW, or does it fall from the HIGH.
Nowhere in this thread is broker time mentioned. Asian, London and NY all operate the same, every day. Nowhere in this thread is candle color mentioned.
How do you determine peak low or peak high? Seems pretty simple...if price goes lower, then it's not the peak low now is it? If price goes higher, then it's not the peak high is it?
The candles can all be peppermint sticks and you can still determine if price rose or fell from it's PEAK LOW or PEAK HIGH.
If somebody does not understand this, I'm sorry, I can't "make" you see this. Open your minds up and forget all the BS that you've been told about this market.
CJ
Unless the close is the high or the low, it does both, so therefore am I correct to assume that the what determines an UP day or a DOWN day is the which part of the daily high or low to the close it moved the most? EG If it moves up more from the low than it does the high, then it's a UP day. If it moves a further distance from the peak high to the close than it did the peak low to the close, then its a down day? In the attached file the M which forms on the larger time frame is evident. However, it retraces down a little from the peak high, but it doesn't seem logical to count them as a down day, given the push up then slight retrace. There's more movement from the low to the close than the high to the close.Captain Jack wrote: What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
[...]
Does it rise from the LOW, or does it fall from the HIGH.
Hi djhenry1981,djhenry1981 wrote:Hi all,Captain Jack wrote:
Let me make one thing perfectly clear. When looking for levels or counting levels, I am not talking about the color of a candle. I have stated that the 3 day cycle is 3 days of rising or falling price, that begins from a peak LOW or a peak HIGH. Nowhere do I say to check the color of a daily candle or any other candles to determine the levels or counts.
What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
In the NZDUSD example, did price rise from the PEAK low on the 20th? YES! It is the PEAK low and that is level 1. Don't try to add a bunch of stuff like GMT and candle color to something as simple as 3 days of rising or falling price, from the peak high or peak low.
When it comes down to it, as stated, I prefer a broker whose D1 candle closes at 5PM est to coincide with NY close and who doesn't use a Sunday candle. BUT, it doesn't matter in the counts because you begin from the peak low or peak high. Does it rise from the LOW, or does it fall from the HIGH.
Nowhere in this thread is broker time mentioned. Asian, London and NY all operate the same, every day. Nowhere in this thread is candle color mentioned.
How do you determine peak low or peak high? Seems pretty simple...if price goes lower, then it's not the peak low now is it? If price goes higher, then it's not the peak high is it?
The candles can all be peppermint sticks and you can still determine if price rose or fell from it's PEAK LOW or PEAK HIGH.
If somebody does not understand this, I'm sorry, I can't "make" you see this. Open your minds up and forget all the BS that you've been told about this market.
CJ
I'm having trouble digesting this part of the level counting. I've read it, and the pdf over and over, and still I'm confused and just need clarity for what is probably glaringly obvious. The last light bulb that needs to go off so to speak.
Is it correct to assume that by the following passages
Unless the close is the high or the low, it does both, so therefore am I correct to assume that the what determines an UP day or a DOWN day is the which part of the daily high or low to the close it moved the most? EG If it moves up more from the low than it does the high, then it's a UP day. If it moves a further distance from the peak high to the close than it did the peak low to the close, then its a down day? In the attached file the M which forms on the larger time frame is evident. However, it retraces down a little from the peak high, but it doesn't seem logical to count them as a down day, given the push up then slight retrace. There's more movement from the low to the close than the high to the close.Captain Jack wrote: What can be more simple than drawing a line from the low to the close of the day to see if price rose that day?
What can be more simple than drawing a line from the peak high to the close of the day to see if price fell?
[...]
Does it rise from the LOW, or does it fall from the HIGH.
I could be completely wrong, but I think the point CJ was trying to make that price on the daily candle may not change much from open to the close, but throughout the day it can move in a direction, eg down then back up again, creating a pin bar, which could be counted as an UP day albeit the open and close were fairly similar.
I apologise for the wordiness of this post. It's hard to explain what I mean, sorry