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Pitchfork Goldmine!

  • #801
  • Oct 22, 2010 9:54pm Oct 22, 2010 9:54pm
Quoting FX4Newbies
Nicely tuned forks Kapital. It is always great to see how price respects these lines.

Take care and thanks for posting,

FX4Newbies

Thanks for the comment.

HOURLY EUR/GBP
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Click to Enlarge Name: HOURLY EG 2.GIF Size: 32 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #802
  • Oct 22, 2010 10:05pm Oct 22, 2010 10:05pm
Kapital,

The hourly chart on the right really locates price nicely. It gives it a framework of where it is...a reference point is always a blessing as price action is so dynamic. It puts things in perspective.


Thanks again,

FX4Newbies

Quoting kapital
Thanks for the comment.

HOURLY EUR/GBP
Trade what you see, not what you think or feel. Let the market come to you.
  • #803
  • Oct 23, 2010 6:34am Oct 23, 2010 6:34am
Just letting you know that the weekly charts will be posted on the blog later tonight.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #804
  • Oct 25, 2010 4:37am Oct 25, 2010 4:37am
Thinking outside the box.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #805
  • Oct 25, 2010 6:59am Oct 25, 2010 6:59am
...all outside the box. For me, I would probably draw a downsloper with WLs .

FX4Newbies

Quoting kapital
Thinking outside the box.
Trade what you see, not what you think or feel. Let the market come to you.
  • #806
  • Oct 25, 2010 10:59am Oct 25, 2010 10:59am
Quoting FX4Newbies
...all outside the box. For me, I would probably draw a downsloper with WLs .

FX4Newbies

Just to be clear, I wasn't advocating this as a PRIMARY setup. Its purpose is to supplement any prior (primary) setups.
Attached Image (click to enlarge)
Click to Enlarge Name: HOURLY UJ.GIF Size: 52 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #807
  • Oct 25, 2010 12:27pm Oct 25, 2010 12:27pm
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elegant entry,looking at structure [seems ok]i need to see the first pullback off,i can then move my stop
  • #808
  • Oct 25, 2010 5:10pm Oct 25, 2010 5:10pm
Okay. That clarification helps.

FX4Newbies

Quoting kapital
Just to be clear, I wasn't advocating this as a PRIMARY setup. Its purpose is to supplement any prior (primary) setups.
Trade what you see, not what you think or feel. Let the market come to you.
  • #809
  • Oct 25, 2010 6:00pm Oct 25, 2010 6:00pm
Quoting pikeliver
Attachment

Attachment

Attachment

elegant entry,looking at structure [seems ok]i need to see the first pullback off,i can then move my stop

On what basis are the inside lines within the fork for your second chart drawn?
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #810
  • Oct 25, 2010 11:43pm Oct 25, 2010 11:43pm
hi Kapital
the lines are a near perfect AB=CD Butterfly,i have to go to work now,but when i get back i will redraw then with the ratios and numbers if you want

ps was i right on the structure,i saw a high,then a lower low ?

thanks pikeliver
  • #811
  • Oct 26, 2010 7:49am Oct 26, 2010 7:49am
Hello all,

Feels good to be back from the fever-flu sick bed. Glad to see lots of interesting posts. Will comment on the ones I missed later today.

I have a very simple and clean EU chart to post. Price just hit the ML and is bouncing. Someone traded the bounce for sure.

Anyway, now that it is has reached a very likely target, be careful when looking for your entry or re-entry.

Take care,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd10-26-10.jpg Size: 78 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #812
  • Oct 26, 2010 8:39am Oct 26, 2010 8:39am
Here is an update of the UJ chart. Price responded well to the upsloping fork....even though it was "unconventional".
Attached Image (click to enlarge)
Click to Enlarge Name: HOURLY UJ.GIF Size: 56 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #813
  • Oct 26, 2010 9:08am Oct 26, 2010 9:08am
Yes it did. Just took another quick look. If you had an upward fork drawn on the previous move, those lines will be WLs off of that fork. Just visually slide that fork and lines left: let Pivot 1 be at Pivot 2 of your purple fork. The lines may be at a slightly different angle. Yours got very nice touches.

Nice work!

FX4Newbies

Quoting kapital
Here is an update of the UJ chart. Price responded well to the upsloping fork....even though it was "unconventional".
Trade what you see, not what you think or feel. Let the market come to you.
  • #814
  • Edited 12:47pm Oct 26, 2010 12:08pm | Edited 12:47pm
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first pullback done,ML line hit,shooting for lower line

[not yet visible]

cut losers,let winners run,stop moved to just above first pullback

we do have another pattern forming within the forks,but

looking at my 2 hour chart,[which i cannot print and show]
shows a very long down bar,would i go long after that bar ?

Words of a Master

It has always been my experience that i never benefited much from a move if i did not get in at somewhere
near the beginning of that move.And the reason is that i missed the backlog of profit which is very necessary to provide
the courage and patience to sit through a move until the end comes-and to stay through any minor reactions and rallies which were bound to occur from time to time before the movment has completed its course
  • #815
  • Edited 6:41pm Oct 26, 2010 2:42pm | Edited 6:41pm
Hello Pikeliver,

Isn't it great when we are in the flow of the market, everything looks and feels right: first pullback, place to move stop, ML target hit.

Your Master's Quote below was so very true. That wisdom is the main driving force behind why my slogan starts with patience. When you wait for the setup and get in at the best time, there are cushions (financial and emotional) that can help to hold you for the run.

Like what I see...you're going well

FX4Newbies

Quoting pikeliver
Attachment

first pullback done,ML line hit,shooting for lower line

[not yet visible]

cut losers,let winners run,stop moved to just above first pullback

we do have another pattern forming within the forks,but

looking at my 2 hour chart,[which i cannot print and show]
shows a very long down bar,would i go long after that bar ?

Words of a Master

It has always been my experience that i never benefited much from a move if i did not get in at somewhere
near the beginning of that move.And the reason is that i missed the backlog...
Trade what you see, not what you think or feel. Let the market come to you.
  • #816
  • Oct 27, 2010 9:56am Oct 27, 2010 9:56am
Good Morning all,

Not too impressed overall with market strength today. Will see what develops later and tomorrow.
Trade what you see, not what you think or feel. Let the market come to you.
  • #817
  • Oct 27, 2010 11:39am Oct 27, 2010 11:39am
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intresting observation of my self

when looking for an entry i shrink the time frame
ie 60 min to 15 min

now i am managing a trade i am increasing the time frame,ie 60min to 240min
  • #818
  • Oct 27, 2010 12:36pm Oct 27, 2010 12:36pm
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  • #819
  • Oct 27, 2010 2:21pm Oct 27, 2010 2:21pm
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Well what can i say ?
  • #820
  • Oct 28, 2010 6:34am Oct 28, 2010 6:34am
Pikeliver,

Would be great if you can manage the change in volatility back and forth. Not a bad idea as there is certainly some good reasoning behind it. Some traders do not recommend changing time-frames like that. Keep your plans clear: if when you enter it is your decision to position trade, then stay in that mode. If by chance a trade is a quick play, stay in that mode for that trade. Otherwise, you would end up with a mess.

FX4Newbies

Quoting pikeliver
Attachment

intresting observation of my self

when looking for an entry i shrink the time frame
ie 60 min to 15 min

now i am managing a trade i am increasing the time frame,ie 60min to 240min
Trade what you see, not what you think or feel. Let the market come to you.
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