ABCD Pattern
Updated
EURJPY giving us some clear structure
ABCD Pattern with obvious rejection at a major level of support
Price has just begun to re-enter our band so I will go to the lower levels to look for entry
Blue - Training Range (I am currently looking to trade from the current position (once I go to the lower levels and find entry) to the top blue band @ the least)
Pink - "fair price" notice how I have made two bands of fair price. At this degree of structure I know there will be many moves in play at the lower levels. Therefore I can use both of these bands to play off. Just know: THERE WILL ALWAYS BE ONE FAIR PRICE. This is just a method I picked up with my studies on this revised version of the regression trend.
Orange - These would usually be the trading rand but I decided to make my own trading range between the blue do to the distance from the main trend and my projection of price moving forward. (I eventually expect price to break the top of A (or out highest high)
ABCD Pattern with obvious rejection at a major level of support
Price has just begun to re-enter our band so I will go to the lower levels to look for entry
Blue - Training Range (I am currently looking to trade from the current position (once I go to the lower levels and find entry) to the top blue band @ the least)
Pink - "fair price" notice how I have made two bands of fair price. At this degree of structure I know there will be many moves in play at the lower levels. Therefore I can use both of these bands to play off. Just know: THERE WILL ALWAYS BE ONE FAIR PRICE. This is just a method I picked up with my studies on this revised version of the regression trend.
Orange - These would usually be the trading rand but I decided to make my own trading range between the blue do to the distance from the main trend and my projection of price moving forward. (I eventually expect price to break the top of A (or out highest high)
Note
Explanation of revised regression trend:
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