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Pitchfork Goldmine!

  • #121
  • Jun 22, 2010 6:20am Jun 22, 2010 6:20am
Attached Image (click to enlarge)
Click to Enlarge Name: 275.gif Size: 19 KB
  • #122
  • Edited 7:09am Jun 22, 2010 6:36am | Edited 7:09am
Good idea Pikeliver,

I hope it falls to the X...seeing some bullish sentiment though on the 4-hr and Daily...not sure how it will play out in time. Unfortunately, will not be able to observe it today. Will post later.

Take care,

Quoting pikeliver
Attachment
Trade what you see, not what you think or feel. Let the market come to you.
  • #123
  • Jun 22, 2010 7:00pm Jun 22, 2010 7:00pm
Hello again Traders,

Hope you had a successful day if you traded. Attached is the chart as it stands. Not much action for a few hours.

I will not be in a hurry to jump in...price has been falling but is trying to push back up...not too successful yet.

Wait for price to tell you something that you recognize before you put your $$$ on the line...my 2 1/2 cents .

Will check in for London Session,
Attached Image (click to enlarge)
Click to Enlarge Name: Pre-Asian June 22.jpg Size: 107 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #124
  • Jun 22, 2010 8:22pm Jun 22, 2010 8:22pm
Just taking another look...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Pre-Asian June 22-2.jpg Size: 112 KB
Click to Enlarge Name: Pre-Asian June 22-3.jpg Size: 109 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #125
  • Edited Jun 23, 2010 4:29pm Jun 22, 2010 10:48pm | Edited Jun 23, 2010 4:29pm
Hello again,

Just noticed a minor adjustment in price's location to the fork lines. Do you see the shift from the black fork to the teal fork? Could mean alot...only time will tell.

Added notes on chart...bottom right.

That's it for now until something concrete begins to happen.
Attached Image (click to enlarge)
Click to Enlarge Name: Did Price Change Position.jpg Size: 123 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #126
  • Jun 23, 2010 4:51am Jun 23, 2010 4:51am
Good Morning all,

Price made an attempt at the target, but didn't quite get there. If it fails to make the ML and breaks the L-MLH of green fork, it could be moving south again.

Only time will tell us.
Attached Image (click to enlarge)
Click to Enlarge Name: Did Price Change Position2.jpg Size: 120 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #127
  • Jun 23, 2010 8:48am Jun 23, 2010 8:48am
I follow the H1 - execute off of the M 20 or most times off the 89 Tick charts
Attached Image (click to enlarge)
Click to Enlarge Name: FCY383154-19.jpg Size: 99 KB
  • #128
  • Jun 23, 2010 8:53am Jun 23, 2010 8:53am
CAD trade - When I was using eSignal Advanced GET - 377 Tick charts worked great. When I was in the process of switching to Ensign - I
ran both charts side by side and with ensign and FXCM - I had to go to 89 Tick Charts to get the same look or working ability.
Attached Image (click to enlarge)
Click to Enlarge Name: FCY383154-18.jpg Size: 95 KB
  • #129
  • Jun 23, 2010 9:53am Jun 23, 2010 9:53am
Here is a possible counter-trade target I see on gold at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GOLD 15MIN.GIF Size: 42 KB
Click to Enlarge Name: GOLD 2 15MIN.GIF Size: 36 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #130
  • Jun 23, 2010 10:49am Jun 23, 2010 10:49am
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD 15MIN.GIF Size: 41 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #131
  • Jun 23, 2010 11:16am Jun 23, 2010 11:16am
Great frequency!!!!
Attached Image (click to enlarge)
Click to Enlarge Name: GOLD 15MIN.GIF Size: 39 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #132
  • Jun 23, 2010 12:17pm Jun 23, 2010 12:17pm
Hello traders,

Hope you made some money shorting the EurUsd earlier today. The entry is marked on the chart. The target would have been the ML. Was not available to post this morning.

Plan to post again just before Asian session begins.

Take care,

Quoting FX4Newbies
Good Morning all,

Price made an attempt at the target, but didn't quite get there. If it fails to make the ML and breaks the L-MLH of green fork, it could be moving south again.

Only time will tell us.
Attached Image (click to enlarge)
Click to Enlarge Name: Price Failure...ML Target Hit!!!.jpg Size: 114 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #133
  • Jun 23, 2010 12:55pm Jun 23, 2010 12:55pm
Very nice trade. The fork worked well. I also watch the H1 and then enter on a shorter time-frame.

Good trade!

Quoting Wave Trader
I follow the H1 - execute off of the M 20 or most times off the 89 Tick charts
Trade what you see, not what you think or feel. Let the market come to you.
  • #134
  • Jun 23, 2010 12:58pm Jun 23, 2010 12:58pm
Sometimes it requires a little tweak here and there to see price to our satisfaction. It is a good thing when our eyes "know" what we need to see.
That really only comes from practice.


Quoting Wave Trader
CAD trade - When I was using eSignal Advanced GET - 377 Tick charts worked great. When I was in the process of switching to Ensign - I
ran both charts side by side and with ensign and FXCM - I had to go to 89 Tick Charts to get the same look or working ability.
Trade what you see, not what you think or feel. Let the market come to you.
  • #135
  • Edited 2:44pm Jun 23, 2010 1:01pm | Edited 2:44pm
Hello Kapital,

Glad to see your post. I have a question though... from looking at this chart alone, what made you think price would go back to hit the Schiff ML as a counter-trend trade? Not sure what you are looking at here ?

Thanks.

Quoting kapital
Here is a possible counter-trade target I see on gold at the moment.
Trade what you see, not what you think or feel. Let the market come to you.
  • #136
  • Jun 23, 2010 4:35pm Jun 23, 2010 4:35pm
Wave Trader,

What do you look for when you are trying to decide on a time-frame or tick chart that has the same look or working ability? Is it a trial and error process?

Thanks,

Quoting Wave Trader
CAD trade - When I was using eSignal Advanced GET - 377 Tick charts worked great. When I was in the process of switching to Ensign - I
ran both charts side by side and with ensign and FXCM - I had to go to 89 Tick Charts to get the same look or working ability.
Trade what you see, not what you think or feel. Let the market come to you.
  • #137
  • Jun 23, 2010 6:29pm Jun 23, 2010 6:29pm
Quoting FX4Newbies
Wave Trader,

What do you look for when you are trying to decide on a time-frame or tick chart that has the same look or working ability? Is it a trial and error process?

Thanks,
Trial and error somewhat. Tim Morge uses H4 and M20 in Forex. H4 does not speak to me, so I use H1. I started using M20 because of Tim, but I looked for a lower time frame for intraday trades. I ran across 377 Tick charts in an Ensign chat room. The ticks charts speak to me. Then when I was moving to Ensign the 377 tick on ensign was not right. It must be the way the feed is from FXCM before I used eSignal feed. So experimented with various Tick charts 233, 144 and 89. On Ensign 89 Tick charts look and feel just like 377 on eSignal, that is why I use them. Shane Blakenship will use M1, sometimes. The M1 and M5 just do not sing for me.

Additionally, Paul Coghlan uses M1, sometimes. Paul is giving his charting session, tommorrow on coghlancapital.com you may wish to check it out.

Use what works for you.

Best of Luck
  • #138
  • Jun 23, 2010 6:49pm Jun 23, 2010 6:49pm
Thanks for that reply Wave Trader. I like how you put it..."the M1 and M5 just do not sing for me." I think what you mean is that these time frames are not as easy to read or do not give you a feel for the market. Am I right?

"Use what works for you" is such good advice. Each trader has to find that place, and when they do, they know it. It is amazing how we are wired so differently. A good example is how people see the dancer. I saw this sometime ago and thought it was interesting. Traders should try this: Which way is the girl turning?

http://www.perthnow.com.au/fun-games...-1111114517613

Enjoy,


Quoting Wave Trader
Trial and error somewhat. Tim Morge uses H4 and M20 in Forex. H4 does not speak to me, so I use H1. I started using M20 because of Tim, but I looked for a lower time frame for intraday trades. I ran across 377 Tick charts in an Ensign chat room. The ticks charts speak to me. Then when I was moving to Ensign the 377 tick on ensign was not right. It must be the way the feed is from FXCM before I used eSignal feed. So experimented with various Tick charts 233, 144 and 89. On Ensign 89 Tick charts look and feel just like 377 on eSignal, that is why...
Trade what you see, not what you think or feel. Let the market come to you.
  • #139
  • Jun 23, 2010 7:35pm Jun 23, 2010 7:35pm
Hello Traders,

Just sharing my thoughts...hopefully the market moves tonight.

Be careful and follow your rules.
Attached Image (click to enlarge)
Click to Enlarge Name: Asian Session June 23.jpg Size: 134 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #140
  • Edited 2:22am Jun 24, 2010 1:44am | Edited 2:22am
Good Morning,

Looks like price is inching its way to the target. If it can find support at the U-MLH, then I believe the market will push it the rest of the way.

Good trading to you all.
Attached Image (click to enlarge)
Click to Enlarge Name: Price Inching To Target2.jpg Size: 138 KB
Trade what you see, not what you think or feel. Let the market come to you.
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