Peaks (Crests) and Troughs

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With GBPJPY and GBPUSD you're pretty much looking at the same type of situation as above.

 

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Actually, USDCAD spent the last six hours of the week bouncing off a 1.3593 reversal (statistical support) level. So, even though it is technically bearish, IF circumstances dictate, I might look to buy the pair and ride it north up to as high as 1.3671 or 1.3697 BEFORE entering a short position.

I cashed out of AUDUSD at 0.6594, after which it dropped back down to the 0.6566 level again, then bounce right back up to 0.6594 a second, and even third time, but has yet to break through.

Oops! The pair broke out above resistance just as I was about to upload this post...

Even so, my numbers calculate the 0.6600 handle to be quite a significant resistance level. I would therefore "expect" to see this pair pull back for a while before heading higher.

 

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With GBPJPY and GBPUSD you're pretty much looking at the same type of situation as above.

Ditto with respect to AUDJPY...

I'm hoping this pair climbs all the way up to the ceiling for about a $70+ payout.

 

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I'm hoping AUDJPY climbs all the way up to the ceiling for about a $70+ payout.

Yeah... the puzzle was indeed pretty much complete except that I added just one additional component since last Friday. You can see how it functions by looking at how I applied it to the AUDJPY position...

Once the upper or lower band on this envelope of what I call "statistical support/resistance" is hit, I don't expect to see any additional gains, and therefore exit my positions as soon as the gist of price action begins to evidence regression toward the mean/mean reversion.

Accordingly, rather than remain in the trade, hoping for a possible change in fortune, and also possibly witness a former winner turn into an ultimate loser, I pocketed the available profit when candlesticks were still painting in the neighborhood of 98.36.

So then, I think I can conclude this short little "study" and continue working with what I've got. (The indicator is generated using only a sampling of data taken at regular intervals in order to conserve memory, hence the "squiggly" lines.)