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Thread: Price reversal points

  1. #61
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    Hi kolapo, than you for starting this discussion. Reversal magic is something I had tried several years ago when I found it to be too subjective and too many lines. But with the indi's you provided and combined with Kor's AMP patterns, I am trying to revive my interest in this area. I have prepared a couple of pictures on Multi TF triangulation and the Float indi (my limited understanding). Please let me know what you think.

    Also, have you tried using the formula in the spreadsheet? When I plugged in the dates and price for LL and HH for Euro that I used in my picture below, it came back with Feb 10th- which is one day later than what I have on the daily chart. What can you share about this formula? Is the Float essentially doing the samething i.e., use this formula on the zig zag highs and lows? If that is the case, is there any need to manually draw the triangles? Thanks and appreciate your reply.

    EU Daily

    Price reversal points-eu-daily-2-10-2012-7-15-55-pm.jpg
    EU Hourly
    Price reversal points-eu-hourly-2-10-2012-7-19-35-pm.jpg
    Float
    Price reversal points-float-2-10-2012-7-36-38-pm.jpg
    Last edited by duggils; 02-11-2012 at 12:28 AM. Reason: Fixed bad attachment

  2. #62
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    hi Duggils on the daily charts on the 30th of November we had a falling window{gap}.That extra day should be included in your RM point calculations.the zigzag and the nonlag helps pinpoint possible areas of reversals,triangulate what you see and look for if there are gaps on the charts. i can not see any on your daily chart while other brokers have.On the hourly charts price creates a point of indecision up down up down small waves when broken to the down side.the zone gives you 50% of the overall move down.as usual triangulate price and the gap adds the extra hour .Study MJP well on what to look at for that helps.the float has 50% level as well.if it falls on a balance point and the triangulation is complete price will reverse.you can use the both zigs for better results for what you had on the daily,go to a 4hr chart and see if you have done it properly.we will still talk about inverse later.have a good day

  3. #63
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    Quote Originally Posted by kolapo View Post
    Hi john on closing of the euro/usd and gbp/usd you already have gaps on closing.fxpro 2 scenario price retraces gives another zigzag line to triangulate with.if it starts to drop below the gap fib the gap level as 50% it will give you 100% of the fib as your target.if it retraces and gives a zigzag use triangulation to determine where price will drop down to you will get a balance point before the next reversal .keep an eye on the daily as well.1st target should be fibnode at 38.2% fib on the daily.happy trading.
    hi Kolapo, well.. looking at eurusd chart .
    D1 and H4 are quite different; D1 suggested me an uptrend, H4 suggested me a possible downtrend.. now, I see there could be a retracement till fibo 76.4 (in H4, maybe till 1.31300, to touch the triangulation) and then a possible pull in log till 38 D1 fibo level.



    http://content.screencast.com/users/JohnCapa/folders/Price%20Action%202012/media/783bfa40-5c61-42d8-990d-53b8f85874ad/Schermata%202012-02-11%20a%2011.48.53.png
    Price reversal points-schermata-2012-02-11-11.48.53.jpg
    Last edited by JohnCapa; 02-11-2012 at 10:19 AM.

  4. #64
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    Hi john we should not second guess the market in the coming days it will imprint its clues to the puzzle on the charts.patience will provide the clue.we still have an unbroken trendline on the euro. looking at the 4hrs waves it seem we are having a mirror image of the movement down back up.the clues will surface in coming days.happy trading

  5. #65
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    Trademonister ,Something interesting is definitely happening here. Can you pliz post the PDF "Channel Surfing"

  6. #66
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    hi superbuddy channel surfing is on post 31

  7. #67
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    Thanks. I have it now. I also found the website GreatestTradingTools.com

  8. #68
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    here is a suggestion of a trading procedure for harmonics and parsons. Let me know what you think.
    You will need to have read the pdfs and/or seen the parsons videos to understand what im talking about here.


    identify a harmonic pattern via ampmonitor or other means.
    1. identify a balance point in the CD leg.
    2. confirm it with lines from previous highs/lows. look for at least two confirmations. NOTE:a confirmation line can start at a 50% point of previous swings.
    3. confirm the reversal pattern by triangulation (reversal = In a downtrend, look for two highs to draw a trendline. then draw a horizontal line from a low pont found between them). Look at higher TFs for these, then confirm on your trading TF.
    4. draw a line from the previous swing point thru the balance point.
    5. pull cycle lines from the previous swing high/low to the balance point to project the time that the price projected will be reached.
    ----------------------------------------
    For the lazy trader it would probably suffice to just check for the BP (balance point) in the CD leg. That would be an additional confirmation that a reversal will probably occur.

    You can also use this information on emerging patterns. Again, using the BP knowledge if you see a point on the CD leg which is a balance point then you can have confidence that it will indeed reverse in the prz. As always, you want to trade the most obvious patterns.
    Last edited by foxy; 02-14-2012 at 08:54 AM. Reason: caveat

  9. #69
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    RM Calculator modifications

    Hi All,
    Have just heard about this topic and am very interested. Has anyone modified the XL calculator to just enter points A,B,C & F to produce RM? Would be useful for Intraday trading. Or evean an EA to calucate RM for you or draw the point on the chart? Any suggestions?

    Cheers,


    Mike
    Last edited by blott; 02-14-2012 at 10:59 AM. Reason: Additional info

  10. #70
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    Hi,

    I presume Rm is 'x' number of pips horizontally into the future away from point 'C'?

    Good RM today on GBPUSD down swing!


    Cheers,


    Mike

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