I had a quick look this pair and noticed a nice clean top after the low at 1.93398. I have only placed vertical timing lines 4 to 6 so to isolate the possible plays ( See Blue & Purple bent arrows ). You will also notice some spectacular hits on the horizontal lines which tells me the grid is working.
These plays are based on the assumption that a low comes in on vertical timing line 4 (Purple Dotted Line) If it is a top these plays will be very different. In any case I will set up my entry rules for a long or short position. If the market breaks below the horizontal 50% level a liquidation move is highly likely:)
PS: You will also notice some powerful Fibonacci time counts (Top & Bottom) lining up with some of my predetermined timing lines numbered 1 - 9 across the top.
Until next time,
Well as we can see a TOP on timing line 5 came in nicely with good resistance against the 75% horizontal and upper yellow parallel. so the first leg of my forecast ( See purple arrow ) came in. The second leg drifted sideways ( still did not break the top made on timing line 5 ) up until vertical timing line 6, Believe it or not an entry on timing line 6 actually presented ( See chart below ) as we drifted south after line 6 so the second leg forecast direction came in nicely......and keeping with my previous comments above " If the market breaks below the horizontal 50% level a liquidation move is highly likely" my next target is the yellow median line way down around the 1.93000 level......I will revisit around vertical timing line 7
Timing Is Key:)
PS: As an interesting side note: As the sideways move developed I located an important support line, that if broken, Would spell liquidation! for those who are interested it called the Hagopian line......and it is drawn from the low to the bottom right edge of the blue fork......amazingly enough the other reason why this line was important if broken was the fact that if I converted the blue fork to a Modified Schiff the lower MLH was also the Hagopian Line....talk about synergy see attached chart. Oh and by the way take a look at how the bar on vertical timing line 6 touched the backside of the line I just discussed..........the only question was where to put the stop:)
I will now show you a trade I am in right now without the use of a timing line ( Must still have 3 ducks lining up ). This setup was huge if you knew what to look for. I have included my rationale leading up to this trade including a chart.
Remember, Here we have a low risk, High probability setup
1. 50% Horizontal Resistance
2. Angular resistance, Upper Parallel
3. Powerful Fibonacci 89 Time Count from previous high
3 Big ducks in a row!!
As mentioned from beginning likely liquidation below 50% level
I hope you can appreciate how powerful these forks can be
Timeline 7 was about 3 days late and shy of the ML however my previously mentioned target was reached 1.93000 which was great. I knew we were close to a reversal as time was up. So I ran some time counts backwards on a few bars after timeline 7 and discovered 2 direct hits on the major top and the previous bottom. Now these numbers may seem insignificant to most, but the correlation is anything but random:) They are 365 ( Equaling 365 Days In One Year ) and also on the same bar 288 ( Which is a LUCAS Number 2 x Fibonacci 144 ) See what happened after that hour:)
Notice also the recent TOP Smashing into Horizontal Resistance 38.2% ( Fibo) and also the Upper MLH and stopping Dead!