Andrews Pitchfork (Median Line)

My initial take...

The blue lines are of the same slope as the pitchfork.

Are these the "footprints" of a whale dumping some sizable position? The similarity in appearance of the moves there does not give me the impression that it is random market action, but has some structure to it: a mind with a plan executing it methodically and at specific time intervals.

FX4Newbies

The eurusd drop is a heartbreaker for me, i only catch the first 70 pips then got out at first sign of a pull back, it turn back down right where i left off.

Such a drop is rarely seen on eur-usd, and market is still thin, the bulls are still asleep, but they must be smelling a good deal coming.

Another consideration also come to my mind. Could this be the beginning of a major drop such as the one from Aug/08? Another week of drop like that could bring the stock market down to it`s knee. I think the market in a whole is still much nervous and ready to pull up the plug at any signs of a crash. The gains in US$ across the board is really symptomatic of you remember what. Ain`t that a strong signal?

So what is your trading plan for this week? I think that the lack of clear analysis here this weekend show that most of us is clueless, maybe we should check on the higher time frame forks?

Daily EURUSD view. Inspired by nen. Bearish Butterfly still in play. Target l-mlp.

Several important demand zones broken including one major demand zone

So im waiting for a small pullback, if it breaks below (1hr 4hr close) 1.2924 ill add some additional shorts. Either way its possible for a new demand zone to be formed at any time by some hedgefund or a bigger bank.

People will be wanting to jump on the short boat right about now and this is where sharks strike, buying up the good positions and dropping this further.

So keep your eyes open for what tokyo does, volume may be low during Tokyo but i have a very deep seated respect towards Japan to be able to drive the market direction.

Good luck to everyone

The arrows indicate the pivots used to draw the center line.

Circles indicate price target areas.

The location of the circles are not indicative "when" price will reach the targets (but very well could end up being the case).

Here's another (and most likely popular) perspective.

beautiful combination of elements of technical analysis in this chart that I made in December

fwiw.....................

jeepers, we all have our own individual point of view dont we,
i like mine the best

On oanda price have went as low as 1.2860, but is now at 2880. You will see a gap on your charts, at least wait for it to fill.

I have Oanda charts open, thanks.

There's been a lot of pressure on the Euro lately, don't know if it's over, shorts seem to be the play. But when everyone's short it's time to look long?

Charts are more curve fitting atm, I hate having to deal with gaps in time over the weekend.

maybe more like this perhaps, penciled in the low as seen on Oanda's chart?

I'm not ready to put on any trades atm, don't see enough in price to sway me one way or the other regards Euro.

$/Cad has my attention.

EurJpy with a nice bullish butterfly in the prz.

fwiw,

xt

A chart after mine own heart

Bullish buttterfly also forming on eurusd H4.

Nice setup on the usdcad . Will check it at NY open.

Price is definitely in for a test today to see if it is strong enough to stay away from the upper parallel of the blue down fork. Its modified schiff has offered some stiff resistance over the past several days, enough so to cause price to make lower lows.

Hi GreatYves, I see you use harmonics to trade also. This is something I would like to learn and use in combination with the pitchfork. Can you recommend any books or websites for me?

Thanks.

Time for partial taken and stops moved up for a free ride