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Attachments: Andrews Pitchfork (Median Line)
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Andrews Pitchfork (Median Line)

Looks like trying to buy a pullback on the eur/usd
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GBP/USD TRADE:

Sold:
1.5984

SL:
1.6070

TARGET:
1.558

Expecting a truncated P5 because of extended P3. Also At Strong resistance at confluence Zone
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  • #3,823
  • Quote
  • Jan 24, 2011 10:33pm Jan 24, 2011 10:33pm
Quoting ScoTTyBEEE
Also see 20 min and weekly. This is 20 min, take a moment to look at all the lines. See my possible entry circled.

Down sloping trendlines in line with modified shiff latest high low pivots.

I like your hourly chart.

http://img228.imageshack.us/img228/735/ensign.png
So Scotty! Our short is on a good way! I have a fibonacci channel chart i made out of gbpchf H4. The fibs level show pretty support and resistance. I started drawing fibo channel everywhere it is frankly amazing. I see the levels play out so well many times.. I hesitate to show my new found toy on this thread. The very few post i saw on the matter draw the channel wrong. Unless there is somekind of interest from the users of this thread i should refrain from posting it or maybe i should start a new thread on the subject.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
  • #3,824
  • Quote
  • Jan 24, 2011 11:56pm Jan 24, 2011 11:56pm
Quoting GreatYves
...
Unless there is somekind of interest from the users of this thread i should refrain from posting it or maybe i should start a new thread on the subject.
I'll bite. I think Fibo-channels and pitchforks go hand-in-hand. Apart from the main PF lines, many people also watch "quartile" lines, which are great, but I also like watching Fib ratios above and between the lines too.

I'd be interested to see what has caught your attention, and IMO it is on topic with PF's. After all, a "channel" drawn with one line from a Pt1-to-Pt2, and with the opposite channel line on a Pt3 is completely the same lines as the UML and LML of a Modified-Schiff of an Andrews pitchfork drawn using those same 3 points (Edit: When the Andrews is drawn, typically the pt2-and-pt3 are swapped as compared to a "channel" object, but overall, my "point" (no pun intended) is to use the same 3 pivots). (Try drawing an Andrews, then it's Mod.Schiff. Extend the MS lines backwards in time. You'll see they form a channel).

Please show us your pics...
Quoting GreatYves
Unless there is somekind of interest from the users of this thread i should refrain from posting it or maybe i should start a new thread on the subject.
Show us!!

http://www.mywnde.com/forums/images/...thout_pics.gif
Ok here's one! More later cause i need to go to work.

Draw your base line from x to 2 and the first channel line on top of 1.

Btw! GBPCHF was such a great trade! Made 376 pips out of it! Common sense told me to close it now.

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Harmonics and Pitchfork using korHarmonics from TradingArsenal
For the downward move.

Enjoy!


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Harmonics and Pitchfork using korHarmonics from TradingArsenal
The weekly GY is the biggest fall I've found that bounced near perfectly off the 161.8 FiboChannel. (Wish I'd found that real-time! Doh!)
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Quoting GreatYves
Ok here's one! More later cause i need to go to work.

Draw your base line from x to 2 and the first channel line on top of 1.

Btw! GBPCHF was such a great trade! Made 376 pips out of it! Common sense told me to close it now.

Attachment
Great stuff, I'll have to look into the fib channels. I didn't get an entry on gbp/chf so didn't catch the ride down

I would be interested to see where and how you got in?
Nice work GY

I am still holding my short in GBPCHF .As you can see from chart I entered @ the retest of UML. Let us see how it will unfold.

Regards,
TAQ
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Quoting eaglestar
Excellent work my friend
Thanks ES

EU is @ a very crucial level old resistance but price is still respecting this ML & close above daily quartile.
EU 240 & daily charts....will watch PA here carefully .

TAQ
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  • #3,832
  • Quote
  • Jan 25, 2011 11:25am Jan 25, 2011 11:25am
Anyone notice head and shoulders on g/u?
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  • #3,833
  • Quote
  • Jan 25, 2011 11:45am Jan 25, 2011 11:45am
TAQ - This is how my daily looks - are you using a different anchor than I

am?
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Quoting Wave Trader
TAQ - This is how my daily looks - are you using a different anchor than I

am?
Yes I am using 03/17/2010 high as P0.
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USD/JPY TRADE:

Bought:
82.109

SL:
81.80

TARGET:
83.27

Buying into a dip...expecting highs to be taken at P3.
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Quoting pips4life
The weekly GY is the biggest fall I've found that bounced near perfectly off the 161.8 FiboChannel. (Wish I'd found that real-time! Doh!)
Nice chart! Obviously you notice the power of fibs channel. You can see major reaction on many of it's level! I played often with it in the past but never notice it's potential. Because i was using it wrong. It's like fibonacci expansion but more powerful because it include the time variable in itself. I came to the idea after reading Jeffrey Kennedy ebook on trendline, He use regular equidistant channel on those x-1-2 wave to project wave 3 target, as i was doing before coming to the pitchfork! Then i realized fib channel was maybe usable and started experimenting with it during the week-end. That's when it's potential stroke me! I hesitated before mentioning it and want to kept the idea for myself. Then i started thinking, probably it's better sharing the idea and ask for help on how this can be used. The answer is becoming obvious. All of these level are perfect targets in a trend following system.

Now is it a good idea to post those charts here? This thread was all about justcatalin wanting to trade the euro with pitchfork. Maybe I should i start a new thread?
Harmonics and Pitchfork using korHarmonics from TradingArsenal
Quoting ScoTTyBEEE
Great stuff, I'll have to look into the fib channels. I didn't get an entry on gbp/chf so didn't catch the ride down

I would be interested to see where and how you got in?
The week open at almost perfect spot for entry. 61.8 % retracement of the first lower low swing is all i ask for. Read Jeffrey Kennedey free ebook excerpt for EWI members, Trading the line. I love it! Will help you spot reversal.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
Quoting taq
Nice work GY

I am still holding my short in GBPCHF .As you can see from chart I entered @ the retest of UML. Let us see how it will unfold.

Regards,
TAQ
Holding the short is still valid! It's just that my profit goal for the week was more then hit.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
Quoting taq
Yes I am using 03/17/2010 high as P0.
I must say i prefer WaveTrader P0 on this daily fork. Price did respect the middle upper line Jan 10. Right now wave 2 is very extenuated, it in the last pips of it's wave c that could extend to 3780, the 61.8 retracement of wave 1. I am personnaly waiting for a 4 hr open and close candle under the parallel trendline as a reversal signal. A move that have potential to lead us very low low low.. Let's follow it closely.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
Quoting ShanB
USD/JPY TRADE:

Bought:
82.109

SL:
81.80

TARGET:
83.27

Buying into a dip...expecting highs to be taken at P3.
I found usdjpy very hard to follow! I see you label your wave. wave 1,3,5,A,C. are impulsive and composed of 5 inner wave each. Wave 2,4,B are corrective by nature and are compose of 3 corrective wave (ABC) each. B of B being the hardest of them all to trade. 3 of 3 being the most profitable wave we want to be in. That would be clearly downward if you look at weeklys.
Harmonics and Pitchfork using korHarmonics from TradingArsenal
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