EURO/USD TUE 5-29-07
DURING THE TIME IT TOOK ME TO PUT TOGETHER THIS ANALYSIS FOR YOU THE MARKET IS ALREADY MAKING THE MOVE SIGNALED BY THE BULLISH 4HR PIVOT.
SEE ATTACHED 4HR CHART;
Notice how all the bars between bars 1 and 4 are all inside the range of bar 1. The red lines illustrate the high low range of bar 1, the swing bar.
Bar 4 is the pivot bar on this complex bear pivot. LCM explains complex pivots.
Even though bar 4 closed on higher volume and appears to be a valid complex bear pivot, but when you compare it to the volume of the swing bar the volume is much lower. Since we already know that an invalid pivot will meet S/R at 3 bar, we would expect this complex pivot swing to stop down at 3bar support.
When you look at the 3 bar count I have illustrated on the chart we can see that is exactly what happened. Bar 4 formed a bear pivot bar and hit 3 bar resistance on the same bar. Now, I have taught you that when this happens, that pivot has fulfilled its objective and you should look for a reversal or bounce from there.
Bar 4 closed with a strong bounce back up off 3bar and bar 5 formed a bullish pivot reversal bar on higher volume confirming it as a valid pivot reversal.
So, now we have a bull pivot with bar 4 as the new swing bar and bar 5 the pivot bar.
Bar 6 pulled back and tested the pivot point, which is where an entry would be signaled on this bull pivot. We want to enter at the pivot point right?
This analysis is further supported by the range bar. Bar 4 bounced off bearish 3 bar support and this 3 bar support was also the bottom of the range bar. That two levels of support and I often tell you to look for conjunctions of S/R levels to confirm your pivot analysis.
So then, while trying to determine a target for this current bull pivot we know that if the bottom of the range bar has provided support then the market is most likely going to test resistance at the top of the range bar. The top of the range bar also happens to be at 3 bar resistance from this bull pivot. Now, if you can’t see how 3 bar is at the top of the range bar then you can’t expect me to keep repeating the importance of inside bars.
I have marked the top and bottom of the range bar with yellow lines to make it easier for you but I’m not going to make 3 bar because your job is to think and practice.
Lately I’ve been doing everything short of trading your account for you, with great accuracy I might add, yet the only time I hear from most of you is to complain about this or that.
So, since making accurate market calls is not good enough for you then there is no purpose for me to make them is there?
SEE ATTACHED 4HR CHART;
Notice how all the bars between bars 1 and 4 are all inside the range of bar 1. The red lines illustrate the high low range of bar 1, the swing bar.
Bar 4 is the pivot bar on this complex bear pivot. LCM explains complex pivots.
Even though bar 4 closed on higher volume and appears to be a valid complex bear pivot, but when you compare it to the volume of the swing bar the volume is much lower. Since we already know that an invalid pivot will meet S/R at 3 bar, we would expect this complex pivot swing to stop down at 3bar support.
When you look at the 3 bar count I have illustrated on the chart we can see that is exactly what happened. Bar 4 formed a bear pivot bar and hit 3 bar resistance on the same bar. Now, I have taught you that when this happens, that pivot has fulfilled its objective and you should look for a reversal or bounce from there.
Bar 4 closed with a strong bounce back up off 3bar and bar 5 formed a bullish pivot reversal bar on higher volume confirming it as a valid pivot reversal.
So, now we have a bull pivot with bar 4 as the new swing bar and bar 5 the pivot bar.
Bar 6 pulled back and tested the pivot point, which is where an entry would be signaled on this bull pivot. We want to enter at the pivot point right?
This analysis is further supported by the range bar. Bar 4 bounced off bearish 3 bar support and this 3 bar support was also the bottom of the range bar. That two levels of support and I often tell you to look for conjunctions of S/R levels to confirm your pivot analysis.
So then, while trying to determine a target for this current bull pivot we know that if the bottom of the range bar has provided support then the market is most likely going to test resistance at the top of the range bar. The top of the range bar also happens to be at 3 bar resistance from this bull pivot. Now, if you can’t see how 3 bar is at the top of the range bar then you can’t expect me to keep repeating the importance of inside bars.
I have marked the top and bottom of the range bar with yellow lines to make it easier for you but I’m not going to make 3 bar because your job is to think and practice.
Lately I’ve been doing everything short of trading your account for you, with great accuracy I might add, yet the only time I hear from most of you is to complain about this or that.
So, since making accurate market calls is not good enough for you then there is no purpose for me to make them is there?
JERRY
2 comments:
HI JERRY,you are absolutley right that you are only hearing from a few,its like the man in the chart,very preditable when you get to know him.most of your students are "SHEEPELL"very predicable & going with the flow(i am sure there thier personnel life reflects it also--no ofence just a fact)your course will sit on the shelf of some,get a little work-out with many, till they get a couple of losses ten look for "THE ONE"to lead them to wearever & then you get those few that see the picture as you see it & will be those students that make you belive it is all worth while JERRY so as a gratefull student dont let us down.NUFF SAID.
thanks,
randy
therandyburke@gmail.com
another great call jerry,
it reminds me of the first time i looked into a microscope,a new world there to see.
thanks,
a gratefull student
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