Short

Good Symmetry on a potential P7 Reversal

FX:GBPNZD   British Pound / New Zealand Dollar
284 views
284
Hello all,

This chart is showing a potential P7 pivot reversal and is showing good symmetry with a Midpoint Schiff ML and 0-4 Line. Lets see how this unfolds
SO UNLUCKY MATE
UtterOnce
Yes, it was unfortunate, however whenever I get tagged I know there is a good chance of it being a final extreme move as anything above 5 clear pivot's I would label either an extreme reversal move or a continuation. If you notice the bar that took me out smashed into the upper grey parallel line, so when I got the reversal leg a few candles later, I quickly drew in the upward fork ( See above screen print chart and notice how steep the fork was ) So I setup again for the short as it missed the median line again - price failure and as it broke the lower parallel it was game on again......good to speak with you and thanks for all the thumbs up!
Timing is key
Hi , How could I learn this method , thats very practical .
FXKOPPA
Hello FXKOPPA, I must agree with you. It is practical and very easy to interpret the price action once you know the rules governing the median line method. If you would like access to the original course just follow this link http://www.trading-naked.com/alan_andrews_course_1.htm

The best thing to do, is to begin with the rules and once you get your head around one, go into your favourite pair and put in some screen time so you can easily interpret the price action based on that rule. You then go to the next rule and rinse & repeat. Once the rules are thoroughly understood you can move into the course material beginning with the pitchfork. I hope this helps and good luck!
Unfortunately stopped out at B/E ( Based on my rules of reaching 1st ML ) the additional two swings produced another price failure trade which demonstrates how versatile this method is, even when stopped out, another opportunity usually presents itself.

Sincerely,

TIK

Timing is key
Target Reached:)
Timing is key
Notice when the market broke the 0-4 black dotted line it pulled back into it before continuing to my target area beautifuly.
Textbook price failure trade, Early targets are the 0-4/Multipivot Line. Once that is broken, A/R would have me exiting at P7 equidistant reaction line.
Sincerely,
TIK
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