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Pitchfork Goldmine!

  • #1,181
  • Jan 13, 2011 4:33am Jan 13, 2011 4:33am
Quoting Wave Trader
Hey D.

Glad to see you are using S-R lines more. They are a powerful tool

AS you know I use Forks to "Frame the Trade" - S-R Lines for alot of my Entries and Pesavento Patterns to remind me where a pivot is likely

Been very busy - Take care and good luck
Yes. S-R lines are very powerful. When I started the thread, my goal was to help new traders and those new to Pitchforks see this wonderful tool in action. Too many lines, believe it or not can confuse them. I am trying to keep things as clear and simple as possible yet offering charts that benefit other traders as well. A juggling act for sure.

Stay busy . I just can't seem to help it LOL.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,182
  • Jan 13, 2011 4:35am Jan 13, 2011 4:35am
Quoting Wave Trader
Look at the recent Wave - started on 1-4-2011

These S-R Lines provide me with fantastic Enteries - The Fork Framed the
Trade - perfectly - UML to ML

Look at Resistance now - will it hold?
S-R lines locate the buyers and sellers in the market. False breakouts and wash and rinses occur there too ...so you need a few angles to confirm as you use in your trading.

After all of that, then there is the trader-factor.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,183
  • Jan 13, 2011 6:23am Jan 13, 2011 6:23am
Good Morning Traders,

Major news today. Sometimes news can push price to target. Be careful trading...so will I .

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-13-11.jpg Size: 106 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,184
  • Jan 13, 2011 7:25am Jan 13, 2011 7:25am
FX 4 - well said - Trader Factor and News pushing to Target

Looking at my 240 and 20 - tells me we are pushing to target - on the

sidelines until I see something I can trade
Attached Image (click to enlarge)
Click to Enlarge Name: FCY383154-59.jpg Size: 120 KB
  • #1,185
  • Jan 13, 2011 7:27am Jan 13, 2011 7:27am
Quoting Wave Trader
FX 4 - well said - Trader Factor and News pushing to Target

Looking at my 240 and 20 - tells me we are pushing to target - on the

sidelines until I see something I can trade
Watching as well...hopefully no distractions show up. Got up to trade earlier and my computer would not boot up. An automatic update kicked in..had to be tech support in the early am. Love this business .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,186
  • Jan 14, 2011 7:19am Jan 14, 2011 7:19am
Hello again,

Quick post...WLs at work here. News to come again.

Trade well.

FX4
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-14-11.jpg Size: 130 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,187
  • Jan 17, 2011 6:12am Jan 17, 2011 6:12am
Good Monday Morning Traders,

Hope you enjoyed the weekend. Here is a chart of the EU. Trying to go higher but in a corner. Will the bulls win?

FX4Newbies

P.S. Red fork (Mod. Schiff) uses a virtual pivot for Pivot 1
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-17-11.jpg Size: 113 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,188
  • Jan 17, 2011 12:23pm Jan 17, 2011 12:23pm
Attached Image (click to enlarge)
Click to Enlarge Name: monday.gif Size: 50 KB


short,stop 6017,target ML,or if it looks right l-ML
  • #1,189
  • Edited Jan 18, 2011 3:56am Jan 17, 2011 5:51pm | Edited Jan 18, 2011 3:56am
Quoting pikeliver
Attachment

short,stop 6017,target ML,or if it looks right l-ML
Hi Pike,

Posting a chart here on Gbp-Usd: Daily. Price has been pushing (upward) for sure. Daily candle showing indecision. We'll see what happens .

Take care,

FX4Newbies
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp-usd 1-17-11.jpg Size: 87 KB
Click to Enlarge Name: gbp-usd 1-17-11-2.jpg Size: 93 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,190
  • Jan 18, 2011 8:06am Jan 18, 2011 8:06am
Hello again,

Showing an updated chart of the EU here on H1. Price ran out of steam at the U-MLH/WL intersection. Price on Daily at a point of decision. Wait for the tell.

Take care,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-18-11.jpg Size: 121 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,191
  • Edited 7:08am Jan 19, 2011 6:42am | Edited 7:08am
EU still trying to push higher. Price seems to be stair-stepping on WLs as it goes. Approaching an U-MLH on the Daily (not shown). Just be watchful.

Take care,


FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-19-11.jpg Size: 123 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,192
  • Jan 20, 2011 6:29am Jan 20, 2011 6:29am
Good Morning Traders,

Well EU did make it to U-MLH on the Daily yesterday. It has been consolidating for a few hours...maybe looking for a support or resistance area. Let's see what we get next.

Daily chart referred to is posted on the right.

Take care,

FX4Newbies

P.S. Still working on getting the flow...Quote from Linda Bradford Raschke: "...success in trading comes from....the way you organize your day...". Analyzing fine, but not able to get my trading schedule down. Also not "feeling" the market as I usually do. Not sure why, gotta figure this one out. Will keep pressing (and praying ).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur-usd 1-20-11.jpg Size: 122 KB
Click to Enlarge Name: eur-usd 1-20-11-daily.jpg Size: 74 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,193
  • Jan 20, 2011 6:36am Jan 20, 2011 6:36am
how long you been trading pitchfork?
  • #1,194
  • Jan 20, 2011 6:40am Jan 20, 2011 6:40am
Quoting qwertymyfx
how long you been trading pitchfork?
Hi Qwertymyfx,

Since 2008.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,195
  • Jan 20, 2011 7:24am Jan 20, 2011 7:24am
Quoting FX4Newbies
Hi Qwertymyfx,

Since 2008.

FX4
how would you compare them to trendlines?
  • #1,196
  • Edited 8:03am Jan 20, 2011 7:26am | Edited 8:03am
Quoting qwertymyfx
how would you compare them to trendlines?
The Pitchfork is a trend tool as is a trendline. However, there is a built in relationship with the lines of the fork that trendlines do not have. Also the Median Line (the center line of the fork) offers an 80% price target probability when the fork is applied to immediate price swings. (Of course, you should be going in the same direction as the market ). Not true of trendlines to my knowledge. Much more to learn to trade successfully with forks than you see here as the fork and its related concepts offer so much to traders once they have the proper understanding.

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,197
  • Jan 21, 2011 5:32am Jan 21, 2011 5:32am
Hello Traders,

EU in an interesting spot...looks like it has been making slightly higher highs and higher lows, but in a tight spot to go higher (resistance areas). Just gotta go with what price shows whenever it does...in the doldrums at the moment I guess.

Take care,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-21-11.jpg Size: 109 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,198
  • Edited 6:34am Jan 24, 2011 5:45am | Edited 6:34am
Good Monday Morning Traders,

Well EU did lose steam and sold off. Notice how price "obeyed" the Warning Lines (WLs). Just keep your eyes and mind open and follow what it does. Red dashed fork I call a "What-If" fork. These terms are also defined in the Glossary on the blog.

Take care,

FX4Newbies

P.S. Arrow shows point of interest only not a suggestion to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 1-24-11.jpg Size: 100 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,199
  • Jan 24, 2011 6:46am Jan 24, 2011 6:46am
Quoting FX4Newbies
Good Monday Morning Traders,

Well EU did lose steam and sold off. Notice how price "obeyed" the Warning Lines (WLs). Just keep your eyes and mind open and follow what it does. Red dashed fork I call a "What-If" fork. These terms are also defined in the Glossary on the blog.

Take care,

FX4Newbies

P.S. Arrow shows point of interest only not a suggestion to trade.

Hey - FX

Nice Fork - looks like the EUR is losing efficency - you may wish to expound to your readers

Good Hunting
  • #1,200
  • Jan 24, 2011 6:51am Jan 24, 2011 6:51am
My Daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: FCY383154-60.jpg Size: 125 KB
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