The One: Price Action and Reaction

Sorry for the late reply just couldn't find the time !

You build upon that which you learned from Tim Morge(The scoring profile), I can only applaud that !

So the tool that you created, excecutes a scoring system with set parameters? Do you draw in the forks yourself?
Pretty neat ! Also impressive.

"PF 7, Absolutely a good peak score of interest, and it did in fact hold for quite a good pullback. This was the "C" pivot in Abe16's chart. Abe commented that after this C were a couple of good pullbacks with various reasons to go long there. Fine, yes, but this resonance at C was already a good reason to consider jumping in at C, before the WRB's that formed just after it."

Yes ! And this was my point in my previous post, to just apply this Hunt for C method on major pivots, or actually valid and solid CL's.
To then afterwards look for secondary confirmations for a reversal point at that line and boom, trade setup ! Your comment on his C resonance
showcased the difference between trading ML and AR.(Edit: When I read on through your post I saw the bearish ML's in the second chart and yeah that was a splendid long setup)

"PF 11. Nothing specific. Sort of like big parallel channels of future bars, but nothing tradeable."

That seems like a very decent CL to me, because it did not create C does not mean it is not tradeable. If you place a parallel line
at number 10 blue C, that second touch might be spot on. And not stating you should have go long because of it, although with some additional evidence
you could have. But it can be used as a fresh CL to find new reversal zones. Or even used as a bearish signal once it broke.


First comment, though I didn't mark any, is that the blue B-to-C line has a lot of pivots resonating. (Making this an MPL I suppose, for possible use as a CL, though I didn't consider it as such yet).

It is very steep but yes sure could call it a MPL or just a 0-1 is fine too hehe if you take A2 for the AL you should end up finding the RL at the red box.
And the RL would likely lead straight into the blue upper parallel where you could short.


These illustrate concepts; but historical examples are actually of relatively little interest to me. Far better would be to have more people aware of the concepts, who bring attention to live opportunities that are then tradeable.

Thank you for the detailed comment on your approach to the markets ! I'l take a good look at the Abe's thread it might actually do me well to refresh ML basics !
Once I have time I'l share another chart.

Cheers !

I look at all your charts, and I try to dig in to follow your comments and reasons for the lines you draw... but I too don't have much time to comment on it all.

Regarding this one of yours, I would have drawn one like your blue down-sloper. Price is bouncing above and below the UML. Perhaps the CL/AL/RL approach you noted could be used to find tight entries, which is my goal for best R:R

I would draw the Red fork too but would look for resonance at the regular lines (including half-lines, third-lines, etc.). But as far as using the lowest dashed-red RL, I see how there is symmetry with the upper dashed-red line (and it is near exact), but... it is too obscure for me to have noticed real-time and traded, at least for this "RL" reason.

I would have instead looked for other reasons to spot what I've marked as "Low ??" on my charts below.

I might have tried copying the red PF and sliding it down, and anchoring the UML at some pivot, as shown, then see whether these PF "symmetrical sliding parallels" come into play. (They do not appear to, at least with accuracy).

I would also note that the red fork you drew, and I copied, uses a pullback which is actually smaller #pips tall than the immediately previous one (blue rectangles). Not sure it matters, but noting it.



If I were looking for a reason that the "Low ??" might hold, In I would draw the forks below. Purple is your red, but with a lower C. There is some good resonance in the purple ellipse along the ML, especially the lowest pivot that touches the ML.

I'd have drawn the brown PF, also as a hunt-for-C. The light-brown ellipses show some resonance along the ML. (Besides H/L, keep in mind also O/C prices, then you'll see that indeed the brown PF ML has some excellent resonance).

The gray PF drawn is of some interest to draw, and it so happens that there is a half-line that intersects in the gray circle at the "Low ??". Overall, the gray fork has some good resonance to various lines, and for that reason, I'd pay a little attention to it as it hits the "Low ??" point. If it showed no previous resonance, I'd probably pay no attention to it.

Finally, there is the lime-green fork drawn, just because of the most recent new low. There is only a tiny pullback resonance at the ML, and not much else.
(Not shown, but shift the purple C down to the recent low. Zero ML resonance).

Obviously the recent low has hit the next gray warning line and bounced. Given the previous gray PF resonance, maybe it's still in play because of it.

You can anchor a fork, I do it too but most of the time it is used just to catch a "shifted" ML, to then find its "shifted" parallel.
Not just that, but measurements can(needs to) be made as well. You see, just drawing a fork in there is a static approach to your chart.
Anchoring is also static. I have found that there are dynamic secrets, if you start measuring and projecting, to put effort into finding the hidden play
of price you will be amazed with what you find. And with enough screentime it will become second nature. I am showcasing alot but it is not everything out there.

The way we chart and trade is also based on our perception of the market, whether you believe the golden ratio(fibs) is used for the markets algo,
or that fundamentals drive the market.. or that newtonian physics do the job.. It gives us a certain stance. lets take Tim Morge for example,
Besides the point he absolutely believes physics apply to the market, he has adopted the approach of his old mentor who died in a plane crash
in the 90tys if I remember correctly(He was a risk manager?). He is constantly looking at places where buyers and sellers will step in and step out.
It works, its his edge.. And it is good to learn it but you should not restrict yourself to it, allow yourself to have the market sink into you,
so that you create your own perspective on what drives the market. I have never read Dr Andrews viewed price structure the way Tim does.
I have my own perception of the market, and it has allowed me to become a master of the AR method. Sorry for lecturing you, I just felt compelled
to tell you this as we are discussing these charts, I believe it might help you.


I would also note that the red fork you drew, and I copied, uses a pullback which is actually smaller #pips tall than the immediately previous one (blue rectangles). Not sure it matters, but noting it.

It does not matter, the thing is I found a reliable RL in the blue downsloping fork, and then started looking for a confirming line with the upsloping red one.


Personally I don't use these half lines etc, I did when I started out but eventually did not yield enough value for me.

The charts below are AUDNZD weekly chart, someone pointed out to me it will drop hard so I took a look and found price is indeed reversing.
The reason I am sharing this one is because it has a fork that uses the same AR technique found in the AUDUSD chart(Upsloping red fork).

I also highly suggest to you, and anyone reading this to study the 0-4 and 0-3 sections of the Andrews AR course. If you really try to break your
head over it something good could come from it !

SandP 500

EURUSD 1h

This was the aftermath of the drop, and todays chart

EURUSD 1h

EURUSD Daily

EURUSD 4H potential correction move

Many thanks to everyone here, especially Eaglestar who has shared his
experience and knowledge about currency trading and others.
I have followed the lessons from the first post to the present day in this thread.
This is amazing to me. It doesn't make sense but it's true.
It's really great when I see prices in line and obey the lines that have been drawn.
Although I have been following this lesson for a long time, I didn't dare to post here. I'm just a beginner here.
But now I am trying to open myself up to be brave enough to post here.
please let me know if the chart that I posted is right or wrong

I've been following this thread since I found forexfactory about a year ago and want to thank eaglestar and all the others who have put their energy and time to share their knowledge with us. Luckily these threads doesn't disappear over time, so many others can also learn from this.

Here's one of my trade (don't know how to get the trade history to be visible on charts)

Reverse Slope AR Lines (Yellow)

Hourly Ripple (XRPUSD)

Thank you all for the kind posts. I will be posting more frequently in the beginning of the new year. I have to take care of some personal life changes that can come up. I wish you all the best in your trading. Here is to a wonderful and happy and prosperous New Year for you all.

Something to think about on the EURUSD

A few charts before the Holidays.

Hey guys hope you are all doing well and having a good time, nice charts btw.

EURUSD 1h:

SandP 60 min

opposing forces

SandP and Euro

SandP

SandP D 4h 1h
Eur 4h 1h/zoom