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FOREX Market Reversal Levels

  • #141
  • Jan 10, 2011 8:15am Jan 10, 2011 8:15am
Quoting billflet
How about AUD/USD?

Thanks for posting the January numbers.
Hi billflet,

AUDUSD as requested.

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The pair will be included as standard from next week.

Andrew
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  • #142
  • Jan 10, 2011 10:12am Jan 10, 2011 10:12am
Quoting Andrewkin
Hi billflet,

AUDUSD as requested.

Attachment

The pair will be included as standard from next week.

Andrew
Attachment
  • #143
  • Edited Jan 11, 2011 9:15am Jan 10, 2011 11:26am | Edited Jan 11, 2011 9:15am
Hello all,

I only trade Eurodollar and Cable so have been watching these two today in the context of Andrewkin's lines. I have copied the colour scheme and labels from the website as they are very easy on the eye and easy to read.

(BTW - Andrewkin - Thank you very much for the kind offer of the free subscription - I hope I am worthy of earning it!)

Cable has behaved almost pip-perfect with the weekly levels (see attached highlighted in blue circles)

Look at the PA - can you see the pinbar pushing up to the Weekly(+1) ?

I am currently looking for a short if price breaks to the downside from here.

Contrast this with the pinbar circled in red. Although a great pinbar, it was in "no mans land" with respect to the lines, so was not a signal for a short!

Best regards

Old Dog

EDIT:

The sharp-eyed among you will have noticed that the labels on my lines don't bear any relation to the levels http://cdn.forexfactory.com/images/s...lling_eyes.gif. Let this be a lesson to all who love templates!! I made a template for EU, dropped it onto GU, changed the levels but forgot to change the labels. Apologies for being old and silly...

.
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  • #144
  • Jan 10, 2011 1:42pm Jan 10, 2011 1:42pm
EURUSD - SAFE 30 pips

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GBPUSD - SAFE 20 pips

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EURJPY

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USDJPY

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USDCHF

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USDCAD - SAFE 100 pips

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AUDUSD - SAFE 60 pips

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  • #145
  • Jan 11, 2011 8:41am Jan 11, 2011 8:41am
Hello all,

As I recommended yesterday, I sold the break of the low of the GU H1 pinbar with a stop 10 pips beyond the Weekly(+1).

I closed at the Weekly(0) so squeezed 30 pips. Certainly nothing to write home about http://cdn.forexfactory.com/images/s...lling_eyes.gif.

Once again, the market is testing Weekly(+1) - accurate to less than 1 pip!! Unbelievable accuracy!!

So, here we go again... Watch for a break above the line, or a break below the low of the pin...

Best regards,

OD

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  • #146
  • Jan 11, 2011 11:44am Jan 11, 2011 11:44am
Hi,

Yesterday I made my first sucessful demo trade around 50 pips on eurjpy, bought at 107.6 and sell at 108.1.

I have a question Olg Dog. I understand that if sell you look for the break of the low of the pinbar, but if the price goes up what criteria do you use to fire the buy?
I mean what do you consider a "break above the line"?

best


Hernando

Quoting Old_Dog
Hello all,

As I recommended yesterday, I sold the break of the low of the GU H1 pinbar with a stop 10 pips beyond the Weekly(+1).

I closed at the Weekly(0) so squeezed 30 pips. Certainly nothing to write home about http://cdn.forexfactory.com/images/s...lling_eyes.gif.

Once again, the market is testing Weekly(+1) - accurate to less than 1 pip!! Unbelievable accuracy!!

So, here we go again... Watch for a break above the line, or a break below the low of the pin...

Best regards,

OD

.
  • #147
  • Jan 11, 2011 1:05pm Jan 11, 2011 1:05pm
Quoting Old_Dog
Hello all,

As I recommended yesterday, I sold the break of the low of the GU H1 pinbar with a stop 10 pips beyond the Weekly(+1).

I closed at the Weekly(0) so squeezed 30 pips. Certainly nothing to write home about http://cdn.forexfactory.com/images/s...lling_eyes.gif.

Once again, the market is testing Weekly(+1) - accurate to less than 1 pip!! Unbelievable accuracy!!

So, here we go again... Watch for a break above the line, or a break below the low of the pin...

Best regards,

OD

.
Hi Old Dog,

Many thanks for sharing your trading secrets with us here.

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Andrew
  • #148
  • Jan 11, 2011 1:08pm Jan 11, 2011 1:08pm
Quoting hquevedoamar
Hi,

Yesterday I made my first sucessful demo trade around 50 pips on eurjpy, bought at 107.6 and sell at 108.1.

I have a question Olg Dog. I understand that if sell you look for the break of the low of the pinbar, but if the price goes up what criteria do you use to fire the buy?
I mean what do you consider a "break above the line"?

best


Hernando
Hi Hernando,

Congratulations and well done.

You are right to learn from Old Dog.

We wish you great future success trading.

Andrew
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  • #149
  • Jan 11, 2011 1:20pm Jan 11, 2011 1:20pm
Get January 2011 FMRL numbers FREE for evaluation HERE (http://www.nysco.co.uk/ah7g9qq20pl456nmazkd239a-10JAN2011-14JAN2011.html).

EURUSD

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GBPUSD - SAFE 70 pips

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EURJPY - SAFE 90 pips

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USDJPY

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USDCHF - SAFE 80 pips

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USDCAD

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AUDUSD - SAFE 80 pips

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  • #150
  • Jan 12, 2011 11:45am Jan 12, 2011 11:45am
Hi Andrew,
Just fishing for a bit more info regarding the derivation of your FMRL values.
Are they purely derived (via some clever maths!) from previous PA levels or are there any lagging indicator values thrown into the mix?

I'm not asking from the point of view of trying to reverse engineer - I am interested in anything PA driven, but not anything lagging indicator driven - they always seem to go off the boil at some point, PA stays consistent!
You don't have to be right, just don't be too wrong
  • #151
  • Jan 12, 2011 12:02pm Jan 12, 2011 12:02pm
ok ok all can you the the more experinced people here tell me how to use the lines how do you know how far they will go if you shall take profit at the first line or keep the trade for longer ?


best regards
  • #152
  • Jan 12, 2011 12:46pm Jan 12, 2011 12:46pm
Quoting El Dee
Hi Andrew,
Just fishing for a bit more info regarding the derivation of your FMRL values.
Are they purely derived (via some clever maths!) from previous PA levels or are there any lagging indicator values thrown into the mix?

I'm not asking from the point of view of trying to reverse engineer - I am interested in anything PA driven, but not anything lagging indicator driven - they always seem to go off the boil at some point, PA stays consistent!
Hi El Dee,

Thanks for the sensible question.

The FMRL numbers are calculated not derived.

We are mathematicians, not fortune tellers.

We publish the numbers in advance.

A month and a week in advance.

Hardly lagging indicators.

FMRL is for PA traders.

Hope that helps.

Andrew
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  • #153
  • Jan 12, 2011 12:53pm Jan 12, 2011 12:53pm
Quoting jgadefelth
ok ok all can you the the more experinced people here tell me how to use the lines how do you know how far they will go if you shall take profit at the first line or keep the trade for longer ?


best regards
Hi jgadefelth,

The answer is in the Candlestick Price Action Primers.

We strongly advise you to read and understand them.

You can find the link in post #1 of this thread.

Also maybe Old Dog or another expert will help.

Andrew
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  • #154
  • Jan 12, 2011 12:54pm Jan 12, 2011 12:54pm
Thanks Andrew, will follow till the end of the month & see how they progress.
Some uncannily accurate levels there!
You don't have to be right, just don't be too wrong
  • #155
  • Jan 12, 2011 1:07pm Jan 12, 2011 1:07pm
Quoting hquevedoamar
Yesterday I made my first sucessful demo trade around 50 pips on eurjpy, bought at 107.6 and sell at 108.1.

I have a question Old Dog.....I mean what do you consider a "break above the line"?

Hernando
Hola Hernando!

Well done, mate! Good to hear.

When I am deciding whether a line is broken and price will continue, I like to look for a re-test of the line. That is very powerful -- see attached. Note that when Weekly(+1) was breached yesterday, price came back down and bounced off it for quite a few bars. Then it pushed on to the Weekly(+2), paused, re-tested Weekly(+1) (a very strong signal!), then finally made Weekly (+3).

To my sheer bloody amazement, price has moved 300 pips this week from Weekly (-1) to Weekly(+3) and touched it accurate to 1.5 pips!!! How spooky is that?

I don't yet know all the answers but I am aiming to learn fast! If these last few days are anything to go by, we are really onto something here...

I can't yet capture anything like the pips Andrewkin is getting but I am going to pour all my effort into this one -- I have never seen so many pips on the table with any other scheme in all my years of trading.

Hat's off to Andrewkin and his team!

Best regards

Old Dog

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  • #156
  • Jan 12, 2011 1:39pm Jan 12, 2011 1:39pm
Quoting Old_Dog
Hola Hernando!

Well done, mate!...
Hi Old Dog
Respect to you too! I still keep your old Levelscalc (Dos) calculator and making some pips with it. What would be your approach to Month Levels? I saw GBPUSD bouncing around Month+1, you can zoom in on M15 for better view... best regards.

Jack
  • #157
  • Jan 12, 2011 3:15pm Jan 12, 2011 3:15pm
You can get the FMRL numbers for January 2011 FREE HERE (http://www.nysco.co.uk/ah7g9qq20pl456nmazkd239a-10JAN2011-14JAN2011.html).

AUDUSD came later by request and is in post #141.

EURUSD - SAFE 40 pips

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Click to Enlarge Name: EU.gif Size: 24 KB


GBPUSD - SAFE 170 pips

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Click to Enlarge Name: GU.gif Size: 24 KB


EURJPY - SAFE 90 pips

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Click to Enlarge Name: EY.gif Size: 23 KB


USDJPY

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Click to Enlarge Name: UY.gif Size: 26 KB


USDCHF - SAFE 20 pips

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Click to Enlarge Name: UCHF.gif Size: 26 KB


USDCAD - SAFE 70 pips

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Click to Enlarge Name: UCAD.gif Size: 25 KB


AUDUSD - SAFE 140 pips

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Click to Enlarge Name: AU.gif Size: 24 KB
  • #158
  • Jan 13, 2011 12:48pm Jan 13, 2011 12:48pm
We will post a commented version of today's charts tomorrow.

EURUSD - UNSAFE 290 pips

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Click to Enlarge Name: EU.gif Size: 22 KB


GBPUSD - SAFE 80 pips

Attached Image (click to enlarge)
Click to Enlarge Name: GU.gif Size: 23 KB


EURJPY - SAFE 150 pips

Attached Image (click to enlarge)
Click to Enlarge Name: EY.gif Size: 21 KB


USDJPY

Attached Image (click to enlarge)
Click to Enlarge Name: UY.gif Size: 25 KB


USDCHF - SAFE 140 pips

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Click to Enlarge Name: UCHF.gif Size: 26 KB


USDCAD

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Click to Enlarge Name: UCAD.gif Size: 25 KB


AUDUSD - SAFE 60 pips

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Click to Enlarge Name: AU.gif Size: 24 KB
  • #159
  • Jan 13, 2011 1:06pm Jan 13, 2011 1:06pm
so how to use the candles pattern do u take the target to next line when u see a continuation pattern and stop when u see a reversal pattern or how does it work ?


best regards
  • #160
  • Jan 13, 2011 4:56pm Jan 13, 2011 4:56pm
Quoting jgadefelth
so how to use the candles pattern do u take the target to next line when u see a continuation pattern and stop when u see a reversal pattern or how does it work ?


best regards
Hi jgadefelth,

Really suggest you look at the Candlestick PA Primers HERE (http://www.nysco.co.uk).

Andrew
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