A levels are volatility levels. If any given product confirms by trading a certain amount of time above that A level, then it has confirmed. It means you only want to take long setups. It does NOT necessarily mean to get long at that exact moment.
Yes. Pivots are VERY useful. But again, they can't be used in isolation. It's all part of the big picture. I created pivot number lines to add to their usefulness. Regarding the 30 day number lines or any number lines. The start of a new calendar year is about as good of a time as any.
nice weekly A up failure in ES...my weekly 1510/1490... this may be the first time in 2013 that we havent taken out the weekly aup...
USD/JPY textbook failure at the monthly A up. Ideal entry to jump on would be a failure at the monthly A down at around 90.75. BTW, all the yen pairs showed weak momentum on the 5 days heading into the monthly A levels.
Your monthly A down is 8491. It needs to hold here. I don't have the number lines on this pair. So depending on those numbers that would determine if I would get long at that level.
Thanks Mav, does not seem to be holding at the A Down. I don't use Fibonaccis, but putting them in from the July '12 low, we have broken through the 23.6% retracement, as well as the 20 day EMA. Let's see where it calls a halt.
I finished the book, signed up for the free 30 month report, now what? Is there any worthwhile info in the seminars? Btw didn't Fisher specifically say that the eurodollar lacked volatility?
Here is an update on the 30 day and 5 day for the various pairs I outlined last week. 30 Day USD/JPY 11 GBP/JPY 13 EUR/JPY 14 AUD/JPY 19 EUR/AUD 6 5 Day USD/JPY -2 GBP/JPY 7 EUR/JPY -3 AUD/JPY -2 EUR/AUD -3 You'll notice the GBP/JPY has taken over leadership and it's holding up the best on the charts and it's momentum is showing that with a +7.
On the equity side we have a QTR A confirm on the ES now. Looks like we are going to tag the monthly A up at least at 1527. We also have a plus 11 on the 30 day. It looks like we are going to confirm.