Timing is key
Short

Anticipating a price failure trade with an EP!

FX:GBPUSD   British Pound/U.S. Dollar
668 35 9
As this market completes an expanding pivot at P5 it is also a nice megaphone pattern that has already breached a lower parallel of the smaller pitchfork and is now challenging the same on the larger pitchfork . It is also just bounced off the 0-4 line which if breached should see more downside based on the larger weekly down trend ( see linked chart )

There is also a nice price channel that has had three tests to the downside, so I have completed that number down via the blue stair steps. I also have the reaction line target using pivot 3 as the highest point and the 0-4 line as the centre line. Lets see how this unfolds

Sincerely,

TIK
Timing is key
2 years ago
Got the turn, no follow through:( however if you notice it reached the downward ML ( lowest point ) before reversing. On to the next!!
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apollo12
2 years ago
Tik sir any way to predict the EP top pivot(P5) ending area .
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Timing is key apollo12
2 years ago
Mr apollo12,
Your question is valid, however to put it into context, after swing 4 bottom is in we are looking for 5 to confirm down, once it breaks the lower parallel after failing to reach the median line an entry can be placed as the probability is good that the reversal will exceed the price failure swing. To pick Pivot 5 is difficult but not impossible. I have seen some of his charts pick the P5 extreme to the pip with the use of converging reaction lines. I have done this also on an earlier chart I posted however unless you understand action/reaction method you will not know the importance. Thanks again for your question
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Timing is key Timing is key
2 years ago
Sorry I am refering To Dr Andrews Charts
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apollo12 Timing is key
2 years ago
"I have done this also on an earlier chart I posted....."which chart ur referring to ,Pl can u give the link.thanks for ur cooperation.
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Timing is key apollo12
2 years ago
Here is one, notice the converging lines hit P5:) enjoy


GBPUSD IDEA: Market has done 5 Pivots!
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Timing is key Timing is key
2 years ago
not updating anymore, however reached target
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apollo12 Timing is key
2 years ago
ok, o-1 CL(P3-P4) and 0-3 Cl(P1-P4) so u ar hinting towards using another set of ar line to get P5.
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Timing is key apollo12
2 years ago
There is no hard and fast rule with picking centrelines. The red line going from P0 through P5 is actually a median line for P3/P4 I drew LAST once P4 was confirmed I used P0 handle further back instead of P2 ( which Andrews say's is fine ). The P1-P4 Centre line picked P3 ( from P1 action point ) so I knew it was a good CL to use so if you notice the swing low between P0 & P1 is the action point I used to get P5. Thirdly I had P3/P4 Centre line and used P2 as my action point which also trans-versed P5. So I had 3 converging lines giving me an indication ( a coordinate ) of where P5 Top was likely to be. I generally use multiple centre lines within the 4 pivot cycle to see if I get an area where P5 could be made. Once the market meets the cordinate area and reverses I look for a technical entry to go short in this example. Hope that makes sense. Sincerely, TIK
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apollo12 Timing is key
2 years ago
"So I had 3 converging lines giving me an indication ( a coordinate ) of where P5 Top was likely to be. " is this is Dr andrews describe as "Where lines converge with price, a pivot (P) is formed"?
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Timing is key apollo12
2 years ago
You got it!
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apollo12 Timing is key
2 years ago
thanks
Please elaborate this statement"SEP means skewed EP where swings get wider but not about a level line as in EP, IEP means swings get wider about a sloping CL.'
Is Prof telling about price fluctuation above 0-4 cl ?
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Timing is key apollo12
2 years ago
Not many examples of IEP and there are 2 schools of thought as to what they are so I leave em alone. Your SEP definition is correct. Yes EP & SEP above a 0-4 line is important as he says, nearly always, when 0-4 is broken ( may then revisit 0-4"which is a good entry point" again before continuing in the direction that it was broken ) will do the same distance down as the furthest point above the 0-4. You can see my chart above as to where my target was.
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Timing is key Timing is key
2 years ago
current example
snapshot
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apollo12 Timing is key
2 years ago
can i ask you regarding other statement of Prof,where i need some clarity .
thanks
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Timing is key apollo12
2 years ago
I may not answer straight away due to trading commitments but I will reply
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apollo12 Timing is key
2 years ago

no prob ans when ur free
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apollo12 apollo12
2 years ago

i have tried this - bold line are 0-3 CL and dotted lines as AR
snapshot

Ur comment Pl
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Timing is key apollo12
2 years ago
Hello Apollo12, your getting the hang of it:) the key to any of his lines whether they be 0-3, 0-4 etc is how to interpret price when it reaches the reaction line (s) . What does it mean when prices blow through and close beyond? What happens when it starts climbing the reaction line? Do I do another count and wait for it to break. I find 0-3 lines an excellent tool to either exit and existing trade, wait to see if it closes beyond the line ( Stay in my trade until the next reaction line ) or if it starting to climb the line on a retracement wait for pivot 3 to confirm and the first candle close beyond the line to enter etc......can you see how it can be used

PS: I will tackle your next question in the next day or so

snapshot
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apollo12 Timing is key
2 years ago

http://i.imgur.com/s5IRMBv.jpg
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Timing is key apollo12
2 years ago
Good one!
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apollo12 Timing is key
2 years ago

UR eurusd (M) chart "The weavers of Meshes and Nets"
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apollo12 Timing is key
2 years ago
Do u consider this as IEP
snapshot
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Timing is key apollo12
2 years ago
I personally would call this an expanding pivot, the fact that it is a downtrend would make trading it difficult as in a downtrend I look for an IEP like this below

snapshot
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apollo12 Timing is key
2 years ago

in this does pivots are having Expanding relation at 1st place?
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Timing is key apollo12
2 years ago
Most of the time we begin at no. 1 pivot ie. 1-2, 2-3, 3-4, 4-5. Zero pivot I use to measure from ie. 0-3 centre line, 0-4 centreline etc.
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apollo12 Timing is key
2 years ago

"Because of some of the questions sent in about ...... Note that P3/4 is greater than P1/2 and P4/5 greater than P2/3."
am taking about this relationship
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Timing is key Timing is key
2 years ago
Hi Apollo, Looks like I didn't link the swings in my definition. use successive swings for simplicity, eg Up Swing 50pips, down swing 60 pips, up swing 70 pips (not 55), down swing 80 pips ( not 65 ) etc. Hope I have clarified
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apollo12 Timing is key
2 years ago

thanks
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apollo12 Timing is key
2 years ago

any idea about ITL ,i.e. Imaginary trend line used by Morton's Rule .
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Timing is key apollo12
2 years ago
I've heard it mentioned, however no newsletters of charts examples, if you come across info, just flick it to me, thanks
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apollo12 Timing is key
2 years ago
ok,thanks
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apollo12 Timing is key
2 years ago
0-3 Exception rule : still using Dt R line to call the sell point, when CL is a 0-3, the top seems to work for the A distance, as well as the bottom.
Pl explain.
thnks
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Timing is key apollo12
2 years ago
Yes, This is unique to 0-3 only, Is mentioned by Andrews that the Action can be either a top or bottom. Play around with action points with 0-3, Sometimes you will find Action Bottoms call Tops & Action Tops call Bottoms. Andrews also uses Lowest/Highest Close for 0-3 line.....just test for market u are trading
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apollo12 Timing is key
2 years ago
thanks. any chart
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