Quarterloo Slagthuset

2 weeks notice: I’ve noticed that the Echo has to arrive within 2 Weeks of a push, so there is a time out function, even if price does not manage to exceed the push level, it has to return to base.

The base is one of the 3 support / resistance levels. On the way down the typical return line was the R3 (red) discounting the last push down that came from the R2 and the first blood where price printed the megaphone, price only mad it back to R1. The market finally flipped after the R3 line was exceeded by 45 pips. The next leg down stopped at the 2std window envelope making a higher low (interrupted red).

On the way up the house has uniformly been the S1 level, making this incline way steeper and calling this move a Bear Market rally.

The idea behind the purple boxes is to highlight 2 levels where the echo could arrive from.

A return should be in progress, but where to? 1.0637 is S1. 1.0557 is S2. I am certainly curious of what kind of bounce the pro volume wick would give from that ever quoted 1.0733-1.0728 band, but I am certainly not anticipating a new push (9-sample higher high) resulting from it. The previous echo was a time out, and this last one did not make it to the first check point @ 1.0892 – shy by 7 pips. As of now, there is a definite undelying weakness.

      if (push[i+1] && Close[i+1]<iMA(symbol,0,21,0,MODE_EMA, PRICE_MEDIAN,i+1) && Low[i]<Low[i+1]){
          ObjectCreate("Miles"+DoubleToStr(i), OBJ_TEXT, 0, Time[i], Low[i]-40*Point); 
          ObjectSetText("Miles"+DoubleToStr(i), "D", 29, "Webdings", clrMagenta);
      }
      if (push[i+2] && Close[i+2]<iMA(symbol,0,21,0,MODE_EMA, PRICE_MEDIAN,i+1) && Low[i+1]>Low[i+2]){
          ObjectCreate("Miles"+DoubleToStr(i), OBJ_TEXT, 0, Time[i], Low[i]-40*Point); 
          ObjectSetText("Miles"+DoubleToStr(i), "D", 29, "Webdings", clrMagenta);
      }
    if (push[i+1] && Close[i+1]>iMA(symbol,0,21,0,MODE_EMA, PRICE_MEDIAN,i+1) && High[i]>High[i+1]){
          ObjectCreate("Miles"+DoubleToStr(i), OBJ_TEXT, 0, Time[i], High[i]+1170*Point); 
          ObjectSetText("Miles"+DoubleToStr(i), "D", 29, "Webdings", clrMagenta);
      }
      if (push[i+2] && Close[i+2]>iMA(symbol,0,21,0,MODE_EMA, PRICE_MEDIAN,i+1) && High[i+1]<High[i+2]){
          ObjectCreate("Miles"+DoubleToStr(i), OBJ_TEXT, 0, Time[i], High[i]+1170*Point); 
          ObjectSetText("Miles"+DoubleToStr(i), "D", 29, "Webdings", clrMagenta);
      }

I was looking for some echo icon, and by random I typed in “D”. The house with the path was rather picturesque for a return home.

Yea, I did this yest>