In Trading Strategy Examples: Quick Charts

I swear I'll keep posting these every day until this gets the attention it deserves.

These concepts are discussed in detail here.

And yes, there are other confluence factors not outlined here.

Click the images to expand.

EURUSD Measured Move 2.0 Variant 1

Measured Move EURUSD 1.618

Charts: http://www.tradingview.com

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Showing 12 comments
  • Alex
    Reply

    Hi,Steve. Thank you for this post. I didn’t know your previous trendline break post so it’s a nice and surprising find. I’ve used the DeMark trendline break measure for quite some time, though not too consistently. My point is, going by your post, measured on euro daily, the low on 24/07/2012 at 1.2041 to 17/09/2012 1.3171 high, consider a trendline linking 1.3171 high to early 2012 high, 1.618 of that big trendline break would give a target of 1.3859. And depending which pivot of early 2012 is used, Euro of the last two days just did a retest of that trendline. Does this make sense or is it valid? Thanks.

    • Alex
      Reply

      Sorry, modifying my last post, the 1.618 high is at 1.3713, so sort of hit at 1.3710, but 200% would put it at 1.4108. This is the chart I was referring to: http://i.imgur.com/KjnVzaZ.png

      • Steve W.
        Reply

        Thanks…..the chart helps me out a lot and yes, it makes perfect sense. I know I didn’t discuss 1.618 in that post directly and that’s because I’m planning on using it in a bit more detail in the future. When the longer posts start to get very lengthy I need to draw the line somewhere so I don’t confuse the masses too easily, if that makes sense. Thanks for posting.

  • Qun
    Reply

    Thanks Steve. I was watching the breakout last night and waiting for the backwards retest, but it appears it didn’t happen on M15 or M5 so I didn’t pull the trigger and missed the trade. I knew where the target was as I read your other post earlier. Thanks for that. The other reason I was hesitated to take the trade was Draghi’s Q&A was still ongoing at that time. Can I ask how you deal with the situation whenever there are news events happening? If the retest didn’t happen “up to the pip”, where do you enter the trade? Thanks again. Qun

  • Jags
    Reply

    I beg to differ Steve. WE DO NOT want you to get TOO much attention for this style of trading.
    Next thing you know the Central Banks & Hedge Fund people will be playing “silly buggers” with the 3rd tap !!!
    Then where will we be ??

  • Qun
    Reply

    Hi Steve, please disregard a reply I sent earlier today. I found the answer in your latest post of “Becoming a Fluent Chart Reader – Clarity in Price Action”.
    Thanks mate!
    Qun

  • Antony
    Reply

    Nice examples, but was there a chance to enter? Maybe on smaller timeFrames?
    Thanks,
    A.

    • Steve W.
      Reply

      Hi Antony, taking it step by step – more to come in the future here.

      • Antony
        Reply

        .. looking forward :). A.

  • Dr. K
    Reply

    Hi, Steve

    By this measure, on weekly and monthly timeframe, it appears that euro would have a minimum target to 140? http://i.imgur.com/lc6UUbP.png

    Thanks

    • Steve W.
      Reply

      Hi Dr K, my general thoughts on longer term technicals are that the landscape is going to change, regardless of circumstance, due to human input to current events. More time = more events thus more possibility of significant shift. And that’s just reality.

      Rate speculation is always #1 on that list. This method meshes well on lesser timeframes, but on longer term ones, I use a more aggressive approach, as seen here: https://www.tradingview.com/x/pjv1HLTA/ going off of the initial retest in the same chart you have posted.

      This, or any other price projection method, will work over the longer haul, but you will also experience a drop in hit rate stats – very generally speaking. And that’s just because you throw more variables into the pot as mentioned above. Hope this helps.

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