A little bit of a simulated experiment on AUDJPY with some dots as potential price predictions in time in case this goes up (Milestones). The colored curves are similar to support/resistance, created using highs and lows (marked with arrows). It seems the green one acted as resistance while the red was broken down. I am waiting to see the price action near the blue (if we get there) and looking for candlestick patterns that might signal a pivot point.
The rest of the drawing matrix are shapes that might symbol significant events like pivot points, turnarounds or bounces. The time stamps could also become relevant in time, once everything unfolds, even if the bullish scenario doesn't play out and it goes downhill.
This is similar to the other Matrix projects simulated on other markets upgraded with a twist, to keep things more interesting, and to explore new methods and approaches. The main trading approach remains the same though, watching the down waves and the bull waves, looking for potential pivot points, or in other words, where the waves might end or enter in correction mode.
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Retest of the red and green curves and then a hit on the yellow dot. One more exceptional event in this project is needed in order to consider it a success.
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The green curve resistance was eventually broke, retested and a little bit of an up movement afterwards. The yellow dot above seems a little too far to be touched though with this type of momentum. Time will tell.
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A hit on the second milestone, the second yellow dot.
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A nice Bounce from the Blue
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Second Bounce from the Blue line. We are the marked date.
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Pinpoint perfection. #Milestone
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What happened at the time stamp with the pin point inverted hammer at the marked level was actually a pivot point. A big one. After the drop and the break of the blue curve, the price found a little bit of support with the bounce from the green one.
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Snapshot with the elements. Can you see it?
What's next in this Matrix?
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Hovering below the blue curve, the bears are having a second attempt at pushing this lower. The day is far from over though. Will the bulls get back in it and keep flirting with the blue line? Or will the bears take control and push this towards the white rectangle?
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The price dropped after the last comment. Not sure if we can see a pivot point in the white rectangle zone. Time will tell and the price action. Green candle in a good position needed for any valid signal worth considering.
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Potential belt hold candlestick pattern near the white rectangle zone. This could be a potential pivot point, but the day is far from over. Anything can happen.
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Candle from the previous update closed as a bullish engulfing, followed by another longer green candle. Pivot point confirmed. Anything can happen but probably unlikely that this can push for the red marked price level again. Not many elements left in this time frame until 8 Nov when there is the time stamp. Maybe a revisit of the white rectangle until then.
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Bearish candle. Potential pivot point.
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Pivot point from previous comment confirmed, and a rebound from the white rectangle, but it doesn't look like a potential pivot point. Next trading days might tell us if this rectangle zone is indeed a potential support zone that can trigger a turnaround.
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Another bounce/rebound from the white rectangle. Don't know if it matters if the day ends in green and an Engulfing pattern. Not confident in this setup for a reversal, but the white rectangle might disagree with me and push this up.
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Eventually, a decent pivot point at the white rectangle.
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3 candlestick shadows at the rectangle.
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Very interesting price action at the white rectangle and the follow up bull run. Next main elements for a potential pivot point are the red marked price level, the time stamp near the white star, or the white rectangle above.
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At the white star mile stone the price hasn't reached the upper white rectangle yet. Not sure id this is a decisive point, but the bearish engulfing from yesterday was significant.
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Potential pivot point with the current candlestick setup for today.
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Pivot point confirmed. Bull day so far.
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A very successful pivot point (comment from 10 November with the morning star candlestick pattern). Even closer to the white rectangle now. This is a projected potential resistance zone, but only a decent signal for a potential reversal can be relevant.
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Some bearish action at the long white rectangle which confirms the support/resistance zone in this area. Waiting to see how the day closes for a potential pivot point signal or reversal.
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3 candlestick shadows at the marked price level and a rebound. Let's see how the price action acts at the rectangle again.
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Rebound from the top edge of the white rectangle. Waiting for the daily candle to approach close time to see how the situation evolves.
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This is still early in the day, as many things can still follow until the close, but this potential candlestick right here can not be discarded as a potential pivot point.
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Approaching the close and the candle looks quite different than in the previous comment. After a bull rally, currently trading above the level of the lower edge of the white rectangle.
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Bearish engulfing at the marked timestamp. I like this one for a short.
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After partially cashing in I have my trailing stop loss above the high of the big candle. (/this is usually my position managing approach). I did not consider the potential pivot point on the up to be significant, but I was also surprised by today's rally. Not sure what else this project might deliver in the future as everything seems so far away. Not hoping for a pivot point at the red. Not hoping for a hit on the white dot. It would be irrelevant.
I have to let this position meet its fate no matter the outcome. Those two candlestick shadows below were really intriguing though.
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We end the year relatively close to the target icon after resistance met above the red marked price level. Bearish tones on the weekly and monthly charts even though it doesn't look on the daily as if the target icon will be eventually hit.
Not much left on this project, as the blue rectangle seems too far to be reached. We have already had enough coincidences in this project to be sober enough and not expect even more magical occurrences.
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3rd stop above the marked price level with a bearish engulfing that looks good. Tomorrow is the marked date of the icon, and while it sits quite lower and is unlikely to be hit, this setup can still lead in several situations to at least 3 bearish candles on the daily. (/offtopic: similar setup with a good looking engulfing also unfolding on nzdjpy)
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Dropped but stopped. At 96.16. Inflection moment at the marked time stamp above the icon, with a candlestick shadow followed by a belt line candle shooting for the stars. A little bit chaotic scenes on this pair, and while this project should see another coincidence at one of the elements before it fades away into oblivion, I have no clue what will happen next. Can't see it climb above the vertical orange rectangle but at the same time I didn't see the white rectangle being hit either. :)
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After the break of the red, a retest with some candlestick shadows right at it, followed by a decent bull run along the orange vertical.
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Just a small coincidence with a high at the vertical orange element which proved to be the inflection point before the big drop.
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Interesting developments on this pair searching for higher ground after the low around the price level of the white dot. Although I doubt we will get to see a direct touch of the big blue rectangle, I can see it grind its way towards 99-99.4 instead of a revisit of the red marked level. I will try to catch another inflection point in the evolution of the price until this project ends, hopefully it won't disappoint...
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It reached 99 in the end and after a withdrawal we have a pivot setup with the potential of a continuation. Not a high target on this one although I do hope it might meet the curve above. For anyone reading this, you can also check NZD pairs. They could bring some bullish days next week.
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Weak follow up candle. Not an ideal situation. The signal becomes less solid with this unfolding...
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Probably a bull trap at the previous setup, but the marked price level did the job with the follow up rebound and the bounce towards 99. Let's see if the added ellipse holds or pops.
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The power of the ellipse. Some call it a joke, others joke that it is art. Some believe it is the result of complex math algorithms in a black box from Generative AI, delivered as a joke, while the truth about the Black Box is rarely specified or acknowledged.
This is the end of the beautiful Milestones project. Thanks for anyone who boosted this.
If it breaks above 104 area then it’s possible can go a lot higher 👍
JesustradesSJO
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This is really impressive! Hope now it turns back
nen
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@JesustradesSJO, I usually trail my positions with stops using the lows or highs of lower candles. I enter the market at pivot points/reversals signals. If it turns back with a bearish wave, that wave should have a beginning with such a signal.