Hi Shaun,
On your AUDJPY W1 chart, why did you not consider the significant level of 83.3? This level was touched several times and is quite far from the nearest 82.00 level.
Cheers
P
Hi Shaun,
Hope I interpreted your instructions correctly
Orange arrows: H4 swings
White arrows: D1 swings
Cheers
EURUSD
Mon Oct 30, 2012 trading:
- As mentioned yesterday, 1.2890 proved to be a very significant level with overlaps
- Price touched this level for the 3rd time and then went up by about 100 pips, passing through many minor resistance levels. This trade may be the, trade of the week.
For Tue Oct 31, 2012
PWH: 1.3090
PWL: 1.2888
PDH: 1.2991
PDL: 1.2891
2012-10-30_1830 - Cskrishna’s library
EURUSD
Mon Oct 31, 2012 trading:
- Price went up and above PDH and after price reached 1.3020 which is a 4HR resistance, gave a good sell program. Price went well about PDH, about 30 pips
- Went above 1.3020 and took away the stops and then came down to 1.2960 (1HR support)
For Tue Nov 01, 2012
PWH: 1.3090
PWL: 1.2888
PDH: 1.3026
PDL: 1.2953
2012-10-31_2256 - Cskrishna’s library
[B]Wednesday[/B]
As per my original post one of our 4Hour swing points was hit yesterday at 1.3020. This exercise is still not meant to make a profit. This exercise is to focus your attention on higher timeframe levels and learn to anticipate swings around these levels. Be patient, let the market come to you.
A little update on the USDCHF.
Price traded to the predetermined support level around the 0.9290 area and bounced. It went below the old low, taking out stops and reversed. Next we might see an uptrend to the 9380 area, we´ll see…
I have more or less marked that level in purple on the AUDJPY Daily chart. Here is a link to that post.
In our fisrt exercise we did PDH and PDL. For week 2 I decided to do fresh swing highs and lows. They are “fresh” in the sense that price has not yet ran below or above those swing lows or swing highs in question and thus there will be stops resting below and above these levels. Going forward into next week we will use start using all support and resistance levels.
There is a perfect example of what I am looking for. You [U]anticipated[/U] price reacting at 0.9290. You are now on the sidelines until 0.9220 or 0.9380.
Now what you should do is note time of day, pivots, higher timeframe OTE etc. Zoom in on the other tools and see how they could have gotten you into the trade. Note the confluence. This is the execution stage of a trade. We are not focusing on that here in this thread at the moment but when price approaches a level you are anticipating a reaction, then take a look at the other tools and see how they could have gotten you into the trade.
EURUSD
Mon Nov 01, 2012 trading:
- Price went up to a known resistance 1.2980. Went little above that price and took away the stops and then came down to another known support at 1.2940
- Price is now around the overlap of PDL (1.2929) and 4 HR Support of 1.2940
- If the price bounces upward then the anticipated level is the overlap of 1.3000 (4HR Resistance) and PDH 1.2988
- If the price is going to come down then the anticipated level would be 1.2890 which is an overlap and a higher timeframe significant level
For Fri Nov 02, 2012
PWH: 1.3090
PWL: 1.2888
PDH: 1.2988
PDL: 1.2929
2012-11-01_2216 - Cskrishna’s library
EURUSD
Mon Oct 29 to Fri Nov 02, 2012 trading:
- Mon and Tue price touched the overlap of PDL, PWL, daily and 4H support 1.2890 and price went up and formed the weekly high (on Wed) at 1.3020 which is a 4HR resistance
- Price started coming down from Wed and finally reached 1.2840 which is weekly support. Trading close to 1.2814 (PML)
For Mon Nov 05, 2012
PWH: 1.3026
PWL: 1.2825
PDH: 1.2955
PDL: 1.2825
Last week I incorporated weekly, daily, 4 hour and 1 hour swing points. Now I am able to see the price reaction at these levels and especially at overlap.
2012-11-04_1451 - Cskrishna’s library
Good morning people, hope you had an awesome weekend 
Here an update on the USDCHF
Price went through our predetermined level @ 09380 (image 1) but it happend just at the release of the NFP Data on Friday (image 2) so I think it was no “normal” situation.
I drew two new levels of interest taken from the 4h. I also included the 0925 support this time, but like I said last week, I am not really sure yet what to do with that level. (The x´s are the old levels I had marked taken from the 4h)
The S/R levels taken from the D1 remained untouched.
(image1)
(image 2)
Cant wait to see what shaun has for us this week, looking forward to it:32:
Have nice week!
David
Just recently stumble on this awesome thread. Keep it up , the more dialogue the more we all GET IT !
Cheers
EURUSD
Mon Oct Nov 05:
- Price touched 1.2840, which is a weekly support, now a resistance.
- In LO, price touched this resistance and went above few pips and then came down and crossed 1.2814 (PML) and then reached 1.2772.
- In LO price went above of Asian range by few pips
- Price may reach about 1.2826 and then go further bearish
For Tue Nov 06, 2012
PWH: 1.3026
PWL: 1.2825
PDH: 1.2955
PDL: 1.2772
2012-11-05_2104 - Cskrishna’s library
Good morning,
The USDCHF continued his uptrend and now ranges just above the 9430 level. (image 1)
On the 15M chart we can see that this level now seems to act as support. (image 2)
The weekly trend is up so I would expect the pair to continue the rise. The next level I watch is the 9480 level. (image3)
(image1)
(image2)
(image3)
Have a nice day!
[B]Week 3[/B]
Due to Sandy and the elections let’s continue with week 3 as we were with week 2. Continue to focus in on the daily swing points and the 4 hour swing points. Go back and study the key levels that saw reactions. Note the other confluence that occured with those reactions. Was there a higher timeframe OTE? Was there a weekly pivot? Was it in sync with the trend? Was there indicator or correlated pair divergence? Dont just look at the trades that worked out but look at the trades that did not work out and ask yourself why they did not work out. You should be slowly building up a portfolio of trades by taking screenshots and saving them to a folder. Seperate the trades that stood out from the trades that did not. What this will do is build a “trade profile” for you to work from. This will serve as your guide when searching for a trade. Try and build a criteria from which you can work from. This will be refined as you go along. The trade profile you build for yourself will be different from one person to the next. Everybody interprets the market differently and it is your job to find what fits your profile.
Shaunfx,
Hope you are doing good. Thank you so much for your continued support.
[B]Tuesday: Yearly Midpoint[/B]
Going a bit off topic here. This is a daily chart of EURUSD. I have plotted the williams % R indicator on the chart. ICT mentioned that when the Williams % R goes into overbought/oversold on the daily chart you can reasonably expect a bounce. It is a good measure for sentiment. We have not gone into implied support and resistance levels yet on this thread but since this does not happen too often I thought I should share it. Today price bounced off of the yearly midpoint. Pull a Fib from the high of the year down to the low of the year and the midpoint comes in at roughly 1.2760.
Since you are still tracking the PDH and PDL I thought you would have really enjoyed today’s price action with price running below PDL at 1.2766 by 6 pips and taking out the stops before reversing.
EURUSD PDL
Yes, I saw that
[B]EURCAD PWH Resistance[/B]
Example from last weeks price action of price running above PWH and forming the weekly high near the big figure at 1.3000.
Hi Shaun,
Hope you are well.
Not sure if I interpreted your homework correctly. Can you advise? 301 Moved Permanently
Thanks