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Pitchfork Goldmine!

  • #921
  • Nov 10, 2010 8:43pm Nov 10, 2010 8:43pm
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Hi FX
extending the pitchfork to the left catches the highs and lows,so i am extending them to the right to see where price may turn,Yes i like to position trade.
I think the big money is in the big swings

There are so many patterns completing at fib ratios at the moment,it just makes sense to project them forward.This is where TIME comes into the mix

I have caught a few of these swings,missed the latest butterfly though,looking in the past the trades to put on were easy,in real time its much harder [at the moment]

But when the pitchfork,patterns,fibs and time line up
it should be like a duck shoot,

Pike
  • #922
  • Nov 11, 2010 5:03am Nov 11, 2010 5:03am
Quoting pikeliver
Attachment

Hi FX
extending the pitchfork to the left catches the highs and lows,so i am extending them to the right to see where price may turn,Yes i like to position trade.
I think the big money is in the big swings

There are so many patterns completing at fib ratios at the moment,it just makes sense to project them forward.This is where TIME comes into the mix

I have caught a few of these swings,missed the latest butterfly though,looking in the past the trades to put on were easy,in real time its much harder [at the moment]...
Hello Pike,

Position Trading is where the big money is made. Takes patience for sure but it is worth it. Some people are just not wired for that type of trading.

Extending your lines may not be a bad idea. Touches may still have meaning.

You are right, when everything that you are looking for lines up, good place and time to take a shot.

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #923
  • Nov 11, 2010 5:06am Nov 11, 2010 5:06am
Hello Traders,

Today might be a slow day. Think I will use the time to get some other needed things done.

If you decide to trade be careful.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #924
  • Nov 11, 2010 9:13am Nov 11, 2010 9:13am
Quoting pikeliver
Attachment

swing B is a 1.272ext of swing A

2 prior lows have been taken out

now,i would'nt trade the extention,however i will be watching it if price gets there

Pike
Thank you, that makes sense. I appreciate your integration of forks with harmonic patterns very much.

GJ H1 : impressive run up.....if I only had the patience to STAY in the trade.


_________________
michael
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Be like water.
  • #925
  • Nov 11, 2010 9:50am Nov 11, 2010 9:50am
Quoting msmarple
Thank you, that makes sense. I appreciate your integration of forks with harmonic patterns very much.

GJ H1 : impressive run up.....if I only had the patience to STAY in the trade.


_________________
michael
Much volatility on GJ...M15 was raggedy, but it went up .

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #926
  • Nov 11, 2010 12:17pm Nov 11, 2010 12:17pm
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i think a small probe is called for,i will cut my position size into 4 equal pieces,
  • #927
  • Nov 11, 2010 3:06pm Nov 11, 2010 3:06pm
Quoting pikeliver
Attachment

i think a small probe is called for,i will cut my position size into 4 equal pieces,
Very interesting indeed. Even the dashed line looks promising.

Just wait for price to confirm.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #928
  • Nov 11, 2010 6:03pm Nov 11, 2010 6:03pm
Quoting msmarple
Thank you, that makes sense. I appreciate your integration of forks with harmonic patterns very much.

GJ H1 : impressive run up.....if I only had the patience to STAY in the trade.


_________________
michael
Nice frequency on your lines. Glad to see you use whatever else you need to help you see. Added confirmation can only help.

For new fork traders that may be wondering...I don't see Pitchforks here...there is an Action/Reaction technique on which the Pitchforks are based. It requires a keen eye for price action and market structure. Definitely on the more advanced side. That is another study all by itself, but good stuff.

Thanks for posting Michael.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #929
  • Edited 5:56am Nov 12, 2010 5:29am | Edited 5:56am
Good morning to all. Just thought I would post a simpler, cleaner view of this pair. A simple chart with a message. Just pulled back from an ML. Overall, what do you see?

If not in a trade, confirm your entries.

Take care,

FX4Newbies
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Trade what you see, not what you think or feel. Let the market come to you.
  • #930
  • Edited 9:40am Nov 12, 2010 9:12am | Edited 9:40am
Were you able to get the trade? Hope you saw what the forks were telling you.

Take care,

FX4Newbies

P.S. Wrap-up charts on the blog late Saturday. Enjoy the weekend.
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Trade what you see, not what you think or feel. Let the market come to you.
  • #931
  • Edited Nov 13, 2010 9:10am Nov 12, 2010 11:31am | Edited Nov 13, 2010 9:10am
Is 1.3575 is the new low,

Pike
  • #932
  • Edited 5:20pm Nov 12, 2010 11:43am | Edited 5:20pm
Quoting pikeliver
If 1.3575 is the new low,the 1.272 ext is 1.4474

the nearest fib is 0.786 at 1.4453
the U-ML touch should be in 7 days time,
patterns will be a 3 drives,more may form

It was nice to return from work,and see the touch of the L-ML

i will spend some time over the weekend working on TIME

as regards to the probe,half is off,the balance is just under the low
it may seen hopeful,but im looking for 850 pips on the balance

i will post a chart later,im off to the pub

Pike
Okay. Keep us posted.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #933
  • Edited Nov 13, 2010 9:09am Nov 12, 2010 1:47pm | Edited Nov 13, 2010 9:09am
As regards to Time,any suggested books ?

Pike
  • #934
  • Nov 12, 2010 6:30pm Nov 12, 2010 6:30pm
Hello Wave Trader,

Just got an email about a variation to the Elliott Wave count called Harmonic EWave. Are you familiar with it? I believe there is a website by that name. Will be taking a look to see what it is about.

Take care,


FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #935
  • Nov 13, 2010 4:49pm Nov 13, 2010 4:49pm
Quoting pikeliver
As regards to Time,any suggested books ?

Pike
Will see what I find.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #936
  • Nov 13, 2010 5:43pm Nov 13, 2010 5:43pm
Hello Traders,

Just letting you know that I was able to post the weekly wrap-ups on the blog early today.

Enjoy the rest of your weekend. For those who may not yet have completed the poll (one question), please do. Thanks.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #937
  • Nov 14, 2010 7:41pm Nov 14, 2010 7:41pm
...
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #938
  • Nov 14, 2010 11:52pm Nov 14, 2010 11:52pm
Price didn't have enough energy to make it to the energy point (1st chart) and re-test Friday's high.

I've added another view of things in the second chart.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #939
  • Nov 15, 2010 5:15am Nov 15, 2010 5:15am
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i see this as a test of the L-ML
nice entry point with a clear stop,and good RR

Pike
  • #940
  • Nov 15, 2010 5:23am Nov 15, 2010 5:23am
Good Monday Morning Traders,

EU sitting at a support level on L-MLH. Not showing strength enough for me yet, but it is tempting. Will keep watching. U.S. news this morning as well.

Be careful,

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