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Thread: Price reversal points

  1. #171
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    Quote Originally Posted by newly View Post
    hi kolapo, and fellow traders!!! kindly comment my newbies understanding about balance point... here's the chart on H1 EUR/USD.

    Attachment 462
    Newly_ Sorry i cant see your chart to comment

  2. #172
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    To FXtrader- This is NOT kolapos discovery in trading. Its Micheal J. Parsons method.

    Kolapo did not start this thread to say he is King or found the Grail, he is only trying to hlep us all.

    Thank You Kolapo


    Trade_Monster
    Last edited by trademonster; 02-26-2012 at 03:35 PM.

  3. #173
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    Quote Originally Posted by newly View Post
    hi kolapo, and fellow traders!!! kindly comment my newbies understanding about balance point... here's the chart on H1 EUR/USD.

    Attachment 462
    Hi newly,

    Could you please post a bigger picture? It's impossible to see the lines and chart properly.

    If you need help with this please let me know, i will be more than happy to help you out so everyone can see your charts.

    Thank you!
    Last edited by Georgebaker; 02-26-2012 at 06:58 PM.

  4. #174
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    Quote Originally Posted by newly View Post
    hi kolapo, and fellow traders!!! kindly comment my newbies understanding about balance point... here's the chart on H1 EUR/USD.

    Attachment 462

    Try this to attach a pic_ go to jetscreenshot.com and setup a free account.

  5. #175
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    Hi,

    Could anyone please confirm my analysis of where price will go next from this chart? The yellow elipses are balance points (I hope!). I drew a line from the last swing low (by the blue bullish pattern) through the next balance point (the left hand yellow elipse) to arrive at what I think is the next balance point. Is this correct technique? If so, then gbp should go up to around 6000. If not, then could some kind soul please tell me where I've gone wrong?


    Cheers,


    Mike
    Last edited by blott; 02-27-2012 at 12:25 PM. Reason: Typos

  6. #176
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    looks good to me. i am in this trade i assume its cable. i pulled a line form the the begining of the leg at the 1300 candle instead of the one you took at 2000. your one is valid as it points to a possible balance point. but if you take the one i mentioned it goes thru the previous balance point and gives an area of possible reversal, which it is currently doing. So i expect it to reverse and plumet to around 1.576 by Wednesday or thursday.

  7. #177
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    Hi foxy,
    Yes it's gbpusd H1 chart. Out brokers must be on same time zone (gmt+1). So you took the next low? On my chart that was at 1400 local time.
    Surely if we are taking highs and lows between swings, then we should use the lowest/highest swing points, not subsequent tests? I did originally take the 1400 test low as the starting point, but then reverted to the previous day's 2000 as being the true swing low.

    Is my method of arriving at the right hand yellow elipse i.e. continuing the line from left to right from 2000 through the last BP, and on towhere it cuts the up leg at the RH yellow elipse the correct way to establish the next BP? If so, then I reckon price will go down to 581 where the trend line from the previous swing high @ 5879 cuts through the 2nd yellow elipse.

    How did you arrive at a future reversal point of 576?

    I'd welcome your feedback.

    Cheers,


    Mike

  8. #178
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    Quote Originally Posted by trademonster View Post
    Try this to attach a pic_ go to jetscreenshot.com and setup a free account.
    Thanks trademonster for your concern... I'll follow it..

  9. #179
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    Hi my Fellow Traders... here's my ss about balance point on EUR/USD H1... kindly comment... I'm still in learning proccess
    Price reversal points-20120227-2yba-83kb.jpg
    Last edited by kor4x; 02-28-2012 at 06:57 AM.

  10. #180
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    Quote Originally Posted by newly View Post
    Hi my Fellow Traders... here's my ss about balance point on EUR/USD H1... kindly comment... I'm still in learning proccess
    Price reversal points-20120227-2yba-83kb.jpg
    Hi Newly,
    Will your point of intersection be a Balance Point or a reversal point?


    Cheers,


    Mike
    Last edited by kor4x; 02-28-2012 at 07:03 AM.

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