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Pitchfork Goldmine!

  • #701
  • Sep 16, 2010 7:31pm Sep 16, 2010 7:31pm
Do some analysis there and see what you get.

FX4Newbies

Quoting pikeliver
the coalface.Attachment
Trade what you see, not what you think or feel. Let the market come to you.
  • #702
  • Sep 17, 2010 2:01am Sep 17, 2010 2:01am
Price seems to be on its way.

FX4Newbies

Quoting FX4Newbies
Hello Traders,

Thinking out loud again. Have a price target marked on this chart. Let's see if we get it before the weekend.

Take care,


FX4Newbies

P.S. In case some of you are wondering...I leave some of the "old" lines there so traders can see how price respected the Pitchfork lines. It helps newer visitors to the thread.
Trade what you see, not what you think or feel. Let the market come to you.
  • #703
  • Sep 17, 2010 4:54am Sep 17, 2010 4:54am
Price pushed very close to target area. Not sure if we will get a push further from here or a sell-off then the push. Might need some more buyers to enter the market. Will have to wait to see when the US Session opens. If it doesn't push higher it sure came pretty close.

Take care,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 9-17-10 pre-us.jpg Size: 158 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #704
  • Sep 17, 2010 6:43am Sep 17, 2010 6:43am
(Question for FX4Newbies)

Seeing all of the red warning lines in the above chart caused me to want to ask:

What led you to first see the need to draw so many warning lines in a chart?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #705
  • Edited 9:19am Sep 17, 2010 8:26am | Edited 9:19am
Kapital,

I believe Dr. Andrews went out to six maybe even seven lines. Like having them there so I can watch price as it interacts with them. Nothing really led me to "first see the need". If the fork itself is well tuned (shows good frequency), then the WLs should be as well. I don't put them up on all forks here because it could be too much for some.

FX4Newbies

Quoting kapital
(Question for FX4Newbies)

Seeing all of the red warning lines in the above chart caused me to want to ask:

What led you to first see the need to draw so many warning lines in a chart?
Trade what you see, not what you think or feel. Let the market come to you.
  • #706
  • Sep 17, 2010 11:18am Sep 17, 2010 11:18am
To all traders,

Hope you all had a good week and that the thread and information on the blog are helping. Please complete the one-question poll there if you haven't already.

I plan to post the weekly wrap-up by Saturday night. Hopefully I would not have any computer/internet challenges. This is a regular event, so in the future I will not announce it unless it will not be posted for some reason.

'Til then, enjoy the rest of your day,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #707
  • Sep 18, 2010 11:06am Sep 18, 2010 11:06am
My observation is that Friday's trades happen early. So I get up 1.5 hours earlier on Fridays.

H1 shows a wave ending P 5. I expect the break from a P 5 to be big and fast.

89 Tick shows the trades. I do not use a standard Andrews with the 89 tick, very often. Mostly Schiff and Modified Schiff. But what convinced me that this fork may have Frequency is the Blue S-R line.

After the trades back to bed.
Attached Image(s) (click to enlarge)
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  • #708
  • Edited 3:39pm Sep 18, 2010 2:28pm | Edited 3:39pm
Hello Wave Trader,

I agree. I think the break from this P5 could be big. My reason is that where price fell from on Friday (the WL you show here on your H1 chart) is also a WL, the sixth one at that, of a fork from June. P1 for that June fork is at 1.2240 on the 17th. The other pivots should be obvious. Price came up to retest that WL Friday (a throwback). There is also an area of resistance there too. If it cannot hold above 1.3140, the blue line, then we look for confirmation down.

Will post the chart on the blog as the weekly wrap-up for the Eur-Usd to give a bigger perspective of the start of the fall. Should be up by midnight EST.

Take care,

FX4Newbies

Quoting Wave Trader
My observation is that Friday's trades happen early. So I get up 1.5 hours earlier on Fridays.

H1 shows a wave ending P 5. I expect the break from a P 5 to be big and fast.

89 Tick shows the trades. I do not use a standard Andrews with the 89 tick, very often. Mostly Schiff and Modified Schiff. But what convinced me that this fork may have Frequency is the Blue S-R line.

After the trades back to bed.
Trade what you see, not what you think or feel. Let the market come to you.
  • #709
  • Edited Sep 19, 2010 12:12am Sep 18, 2010 11:12pm | Edited Sep 19, 2010 12:12am
Hello again Wave Trader,

Posted a thought earlier in response to your post below. After posting the Eur-Usd chart from June on the blog, I'm beginning to wonder if there won't be some upward momentum. I do expect a little sell off, just will have to wait to see how it develops as highs are being taken out. Also see bullish sentiment on H4.

Take care,

FX4Newbies

Quoting Wave Trader
My observation is that Friday's trades happen early. So I get up 1.5 hours earlier on Fridays.

H1 shows a wave ending P 5. I expect the break from a P 5 to be big and fast.

89 Tick shows the trades. I do not use a standard Andrews with the 89 tick, very often. Mostly Schiff and Modified Schiff. But what convinced me that this fork may have Frequency is the Blue S-R line.

After the trades back to bed.
Trade what you see, not what you think or feel. Let the market come to you.
  • #710
  • Sep 19, 2010 7:21am Sep 19, 2010 7:21am
As a trader - I have no clue as to where the Euro will be 5 days from now.
I take each day as it comes.

Daily - shows up trend - losing efficeintcy

240 - shows stopped at the Median Line

60 - shows - P 0 thur P 5 - P 6, 7, 8 - no clue

My thought is that we will correct now, ( fractally wave 5 of P 5 ) - I want that TRADE and I got it.

How the Price Action ( PA ) develops should give us an indication of where it is going.

Because I am WAVE TRADER - I only look at what the next wave may bring me. H 1 determines my fate. I am not a forecaster, I am a simple TRADER - the hardest job - I have ever done.
Attached Image(s) (click to enlarge)
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  • #711
  • Edited 11:02pm Sep 19, 2010 3:53pm | Edited 11:02pm
It is the hardest "job" because of all that is involved: the risk, emotional side-effects, unusual hours etc. But, it is the most exciting! We'll see how it plays out.

Take care, and have a great trading week.

Thanks for the comments and charts,

FX4Newbies

P.S. And your wave trading works!!! I have no clue either where the Euro will be 5 days from now...as long as I am in the right direction at the best opportune time .

Quoting Wave Trader
As a trader - I have no clue as to where the Euro will be 5 days from now.
I take each day as it comes.

Daily - shows up trend - losing efficeintcy

240 - shows stopped at the Median Line

60 - shows - P...
Trade what you see, not what you think or feel. Let the market come to you.
  • #712
  • Edited 7:16am Sep 20, 2010 12:58am | Edited 7:16am
Early Good Morning to all,

Eur-Usd has been trading sideways for some time. Lots can change, sentiment-wise while it rolls around, not to mention wash 'n rinses. Wait until it is ready and shows a decent tell. Be careful and be sure to get a solid confirmation.

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #713
  • Sep 20, 2010 8:01am Sep 20, 2010 8:01am
Hello Traders,

Watching this pair with a close eye...seeing potential both ways at this point, though seeing weakness here. Still thinking bullish so you can understand my preference and need to wait for a tell .

Waiting and watching...

Be careful,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd aug 19-2010.jpg Size: 117 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #714
  • Sep 20, 2010 8:58am Sep 20, 2010 8:58am
Prior bullish sentiment on M15 in play now. Seeing bearish forming on M15. Bullish on H1? Mmm...Still observing. Missed a short entry at 1.3118.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #715
  • Sep 20, 2010 9:12am Sep 20, 2010 9:12am
EUR

60 shows P 5 and wave 5 - pivot 1 and Pivot 2 - Sell wave 3

89 Tick chart shows FORK from P 5 to pivot 1 and 2. For Sell.

I will look to sell wave 5 after pivot 4
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: FCY383154-02.jpg Size: 97 KB
  • #716
  • Edited 9:39am Sep 20, 2010 9:19am | Edited 9:39am
If there is a test of red SH, that could be a great place to sell...represents your P4 I think Wave Trader.

EDIT: Sentiment on H4 looks 50/50...they are not making it easy today, are they? Patience will pay today for sure.

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd aug 19-2010-2.jpg Size: 117 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #717
  • Sep 20, 2010 9:52am Sep 20, 2010 9:52am
Quoting FX4Newbies
If there is a test of red SH, that could be a great place to sell...represents your P4 I think Wave Trader.

EDIT: Sentiment on H4 looks 50/50...they are not making it easy today, are they? Patience will pay today for sure.

FX4Newbies
I am looking to sell again - My view is we are still in wave 3 and need to make a new low below pivot 1
  • #718
  • Edited 10:57am Sep 20, 2010 9:56am | Edited 10:57am
As Tim would say, when price is in the middle of a range...not a great place to enter.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #719
  • Sep 20, 2010 9:58am Sep 20, 2010 9:58am
Exactly! Just saw your post...ranging. This makes for a scalping kind of market at best. Standing by to give a signal but I don't want to be premature. This adds another dimension to the trading experience as you can imagine .

FX4Newbies

Quoting Wave Trader
I am looking to sell again - My view is we are still in wave 3 and need to make a new low below pivot 1
Trade what you see, not what you think or feel. Let the market come to you.
  • #720
  • Sep 20, 2010 10:33am Sep 20, 2010 10:33am
Seeing bulllish sentiment forming on Eur-Usd M15. Not feeling this game today. Will wait some. Wish I had been watching Aud-Usd more closely. Beautiful swings with clear direction per my system. Such is life sometimes.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
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