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Andrews Pitchfork (Median Line)

  • #1,961
  • May 30, 2010 6:12am May 30, 2010 6:12am
Quoting forkTrader
I missed the up move on GBPUSD, but surely caught the down move.
would you mind posting the entire fork? Id like to see which pivots you chose
  • #1,962
  • May 30, 2010 8:22am May 30, 2010 8:22am
here is the full fork for GBPUSD 4hr TF
Attached Image (click to enlarge)
Click to Enlarge Name: 52810bpusd 4hr(2).gif Size: 18 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,963
  • May 30, 2010 8:41am May 30, 2010 8:41am
big-pipin, good to see you after long time.
Sometimes I get crazy. I think every trader has days like this. They ignore their own rules and things that are very obvious on chart.
Last 15 days had been very good and I was thinking I was smarter than the market and I had a good wake up call. That is it.
Why you were not trading forex? Any specific reasons?

Quoting big_pipin
why would you go long here, the blue fork hasnt even been tested once. Plus any upward move, could, and most likely would be just a retracement for the longer term down trend.
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,964
  • May 30, 2010 10:07pm May 30, 2010 10:07pm
Quoting forkTrader
big-pipin, good to see you after long time.
Sometimes I get crazy. I think every trader has days like this. They ignore their own rules and things that are very obvious on chart.
Last 15 days had been very good and I was thinking I was smarter than the market and I had a good wake up call. That is it.
Why you were not trading forex? Any specific reasons?
I've been trading stocks the longest, and I figure if I still cant trade one market successfully, why unsuccessfully try and trade two?.

Also EU doesn't open until 3am my time, which would make it hard for me to hold a day job, and attend college classes which I have enrolled for summer. I like FX, and hope to return to it, but stocks seem the best fit for now.

How long have you traded forks before you were a full time trader?
  • #1,965
  • May 30, 2010 10:27pm May 30, 2010 10:27pm
Here is one trade that just kills me. I was in this stock for over a month, and it was moving against me, pretty much the DAY after I bought it....but I figure I'll stick to my guns, and not get emotional, so I stayed in the trade for over a month and 2 weeks.

I was SOOO close to getting stopped out (50 cents) that by the time the stock started moving down, I was just ready to get out near break even.

I sold for .30 cents, making nothing on the trade...a few weeks later I would have hit my target for a 7.2 POINT profit.

In the end I was right on the money, but managed to throw away a good trade.
Attached Image (click to enlarge)
Click to Enlarge Name: abfs.jpg Size: 263 KB
  • #1,966
  • May 31, 2010 11:03pm May 31, 2010 11:03pm
I closed my short position on GBPUSD on market open on monday, as I had no idea that there is a UK bank holiday on monday.
I took the short position again, now SL @ breakeven.
Attached Image (click to enlarge)
Click to Enlarge Name: 60110 gbpusd 60min.gif Size: 29 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,967
  • Jun 1, 2010 1:05am Jun 1, 2010 1:05am
Hi FT

We are trading the same fork here.
Here are my views on GU & NU let us see how it will unfold.

Regards,
TAQ
Attached Image(s) (click to enlarge)
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  • #1,968
  • Jun 1, 2010 2:10am Jun 1, 2010 2:10am
My stoploss was saved by 2 pips. Thanks to me for putting in the wrong stop what I was initially thinking.
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,969
  • Jun 1, 2010 5:12am Jun 1, 2010 5:12am
Here is my take on GBP/USD. Price may go up and retest the upper quartile of the modified schiff (brown). If it can't break above it, consolidation could occur between it and the 1st warning line of the original fork (blue) or the MML of the modified schiff. A good target to the downside is the bottom quartile for the original fork or the lower quartile of the modified schiff. Price could also make a strong move down and target the energy point created by the quartiles. If you look closely, the resistance which occured several hours ago occured at an energy point created by the upper quartiles. Think symmetry...
Attached Image (click to enlarge)
Click to Enlarge Name: HOURLY GU.GIF Size: 56 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,970
  • Jun 1, 2010 8:40am Jun 1, 2010 8:40am
Well, it appears that the bulls took control and pushed price to the upside.
Attached Image (click to enlarge)
Click to Enlarge Name: HOURLY GU.GIF Size: 59 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,971
  • Jun 1, 2010 11:42pm Jun 1, 2010 11:42pm
Just watching to see where it will decide to go...
Attached Image (click to enlarge)
Click to Enlarge Name: June1-2010.jpg Size: 88 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,972
  • Jun 2, 2010 2:41am Jun 2, 2010 2:41am
Price really has to make another strong move to make it back to the blue MML. Does it have the legs to do so? I honestly don't know at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: HOURLY GU.GIF Size: 52 KB
Click to Enlarge Name: HOURLY GU 2.GIF Size: 55 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,973
  • Jun 2, 2010 3:22am Jun 2, 2010 3:22am
Here is my point of view, i really like these 2 forks because of the tail but the blue is just for me where the risistance maybe. Hope that help
Attached Image (click to enlarge)
Click to Enlarge Name: 6-2-2010 4-20-40 AM.jpg Size: 95 KB
  • #1,974
  • Jun 2, 2010 3:30am Jun 2, 2010 3:30am
If anyone is interested in doing some real-time chatting and charting, I've created a room on Paltalk entitled "Pitchfork Trading". Come on in!!!
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,975
  • Jun 2, 2010 3:32am Jun 2, 2010 3:32am
And here is just 3 small trades for me to get by day. Just using my my trendline and abc method
Attached Image (click to enlarge)
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  • #1,976
  • Jun 2, 2010 3:50am Jun 2, 2010 3:50am
How many traders on this thread trade for living?
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,977
  • Jun 2, 2010 4:17am Jun 2, 2010 4:17am
I am putting in a limit sell order @ 1.4740 with stop loss of 1.4775. Lets see how this works out.
Attached Image (click to enlarge)
Click to Enlarge Name: 60210 gbpusd 240min.gif Size: 22 KB
Let someone arise from my bones as an avenger. Jesse Livermore
  • #1,978
  • Jun 2, 2010 8:14am Jun 2, 2010 8:14am
Attached is a photo of the price move. We'll see how it confirms support.

Quoting FX4Newbies
Just watching to see where it will decide to go...
Attached Image (click to enlarge)
Click to Enlarge Name: June2-2010.jpg Size: 90 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,979
  • Jun 2, 2010 10:53am Jun 2, 2010 10:53am
Te salut Catalin. i just want to ask you if i drawn corect the pinchfork on the chart below. Numai bine!
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  • #1,980
  • Jun 2, 2010 12:03pm Jun 2, 2010 12:03pm
Chart attached is continuing from this morning.

Quoting FX4Newbies
Attached is a photo of the price move. We'll see how it confirms support.
Attached Image (click to enlarge)
Click to Enlarge Name: June2-2010-2.jpg Size: 99 KB
Trade what you see, not what you think or feel. Let the market come to you.
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