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Thread: Price reversal points

  1. #201
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    Hi duggils,
    After my initial enthusiasm, I saw the notice I have pinned on my wall "Where can the market go next?". Maybe I should get rid of that! Lol!

    Have 50 pip TS so unless it goes berserk at the US news, it's fingers crossed. It's made a bit of a mess of the flag though:-)

    My TP is @ 3248.

    Mike

  2. #202
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    Hi Duggils,blott Foxy and everyone posting charts, nice work if we keep this discussions alive we share a lot together and its a win ,win situation for all.

  3. #203
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    Here's a BP I am watching at the moment. It also has a nice harmonic pattern whose PRZ coincides with the BP target. Let's see what happens.

    The pair is EURAUD H4/H1



    http://content.screencast.com/users/...2-19.59.18.png

  4. #204
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    HI Duggils,
    Aren't there nearly always two touches of the TL before it moves up? I'll see if the same appears on eurusd.


    Mike

  5. #205
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    Hi All,
    Here is eurusd H1 chart. Looks like the area with green circle is BP, so target should be somewhere at red circle. If anyone thinks the green circle is not the BP, could they please explain why not; many thanks.

    Price reversal points-20120302-rfoz-126kb.jpg
    Mike
    Last edited by blott; 03-02-2012 at 10:46 AM.

  6. #206
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    Quote Originally Posted by blott View Post
    HI Duggils,
    Aren't there nearly always two touches of the TL before it moves up? I'll see if the same appears on eurusd.


    Mike
    Mike, please explain. EU or EA?

  7. #207
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    I was referring to your pic in post 204 where price had come up through the balance line (after two up-touches of the line) and came down once to touch the line from above. Would you not expect a 2nd down touch at the balance line before price moved higher?

    Mike

  8. #208
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    Nice one blott on target, it also coincides with the 38.2% fib retracement on the daily.

  9. #209
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    Quote Originally Posted by blott View Post
    I was referring to your pic in post 204 where price had come up through the balance line (after two up-touches of the line) and came down once to touch the line from above. Would you not expect a 2nd down touch at the balance line before price moved higher?

    Mike
    Hi Duggils,
    This is what I mean by two touches, though in hindsight the balance line is a bit high.

    Price reversal points-20120302-mj6r-135kb.jpg

    Mike

  10. #210
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    i understand the 'delta phenomenon' claims to detect reversal points. I am struggling to find some information on this, had a taster of a the book by a Welles Wider. Might be a good thing to have in our arsenal. This was something popular a few years back. there was a society where members paid $35,000.
    If anyone has the book perhaps they can share it here. Parsons made a very brief reference to it in a video.
    Last edited by foxy; 03-02-2012 at 12:54 PM. Reason: typo

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