Pitchfork Goldmine!

Hello again Traders,

A roll around night...lots of short swings. News to come in about an hour. Price in a decision zone...guess the market is waiting to know which way next.

Drew the forks in a way that I think gives a clear "snapshot" of the local market.

Take care,

FX4Newbies

Hello again,

Price actually found support on the U-MLH before going north. Hope you saw that coming from the chart set-up above.

Take care,

FX4Newbies

NOTE: Originally had L-MLH in error. Post above has been corrected.

Mod-Shiff,looking intresting,but i will need more confirmation that this is the fork to work with

Nice looking for sure. Keep an eye on how price behaves around the L-MLH.

Take care,

FX4Newbies

Hello traders,

Just wanted to say something about applying Pitchforks and trading in general. Some of you may be seeing Pitchforks used in this simple way for the first time and you are amazed at what they can tell the trader. There are many different methods of application (all of which will not be shown on this thread as it will become a full-blown teaching session).

In the analysis here, I just use the basics with an occasional Schiff (that might even have been on the blog). What traders might not believe, is that any information you try to study about Technical Analysis and trading needs to be set in the right context...with the right understanding.

Just got a testimony from a trader who was using indicators, knew several other methods: not a newbie by any means. In teaching him how to trade with Pitchforks, I needed to sort through what he called "confusion" and give him a step-by-step recipe, incorporating the forks with what he was already doing. The forks are his main tool now, and as he puts it, he has been "in the money multiple times". But, it is his understanding of why something needs to be done and when,and what to look for, where, that is making the difference.

So, I want to encourage all of the traders out there who may be trying to grab pieces of information here and there on the net without a proper foundation, be careful. Some of you have been at it for years, and there are traders I have taught that opened their account this year (and some last year) and are making money: from signals and on their own. And these were real newbies....never saw a platform.

Can't stress this enough: please be sure you have a solid foundation. It just takes one trade to do major damage to your account.

Take care,

FX4Newbies

P.S. Did not get any feedback about someone damaging their account. Just felt the need to discuss the importance of a good foundation.

Hello again,

EU seems to be gingerly climbing. Notice the potential of resistance overhead. News out in a couple of hours as well. Trade what you see.

FX4Newbies

Just closed a trade from a signal that was sent. Signal Chart and Target Chart are available on the blog under the Signals category.

FX4Newbies

Hello Traders,

Price rolled some yesterday then made a push north. Actually landed within the L-MLH of the larger green fork. Notice long tail on green candle before current red candle...hope we are not in for a laundry trading day.

Take care,

FX4Newbies

P.S. Don't let the market hang you out to dry.

Don't keep us waiting for your report.

Just letting you know that the weekly wrap-ups are now posted on the blog. If you have not yet taken the poll, please consider doing so...just one question.

Thanks,

FX4Newbies

Just taking inventory...+213 Pips on the signals sent thus far for the month. Chart and signal details on the blog under the Signals category.

Take care,

FX4Newbies

The Expo was great - I hate the location in Caesars Palace.

I had a delightful 5 minute chat with Dr. Tim before he started his session.

Joe DiNapoli was a rush - he is very passionate about trading

Leslie was informative but lacks spark like Tim and Joe.

I did not go searching for anything - Like I did last year.

I have my 3 trade methods - but it was a great time. Great Traders

Like Joe told me - "It's the people you meet"

Thanks for the report Wave Trader. Glad you got a chance to chat with Tim. Have not heard Joe DiNapoli...or at least I don't remember hearing him. Did have the feeling he would be great to listen to. Hope you got some nuggets to help you with your Gartley trading. It's always about the people, as Joe said. Just like yourself and Pikeliver, and others that post from time to time: you all bring a different flavour to the thread. Thank you.

This Pitchfork Goldmine! thread just crossed 50,000 views. Thanks to all of you out there in trading land for stopping by. Guess somebody is being helped . Believe it or not, prior to this, I had never posted on a thread LOLOLOL. I was just busy developing my method of trading. Now I get to send signals and have people email me asking, "How did you know....".


Take care,

FX4Newbies

Good Morning traders,

Chart shows how price behaved since the market opened yesterday. Price moved up to the first green WL and is falling at the time of this post. Will have to take this one as it comes.

Take care,

FX4Newbies

Hi FX,did you see the Fibonacci cluster ?

re the last e-book

Pike

Hi Pike,

Just saw your chart above. No I did not see it as I generally don't use Fibs that way though it is an extremely credible method. The combination of the MPL and cluster was good confluence.

Was able to short Aud-Usd (didn't catch it in time to send a signal). Looking for a trade (and hope to send a signal on Eur-Jpy)...been stalking it .


FX4Newbies

Price has been making lower highs...and lower lows. Lower lows more pronounced on M15. Trade what you see. News to come.

FX4Newbies

Daily chart shows we have exceeded the WL where support was before

ATR says we have more to go down - I am a seller - maybe on the news

@ 1.3573 if the pattern is still looking good

THE MARKET IS ALWAYS RIGHT

Pike

Joe DiNapoli at the Expo showed "confluence" of fibs and he executed in that area - I do not know much as I did not buy is book.

Muti pivot lines we all use as a Tim Traders

Great Job