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Pitchfork Goldmine!

  • #1,221
  • Jan 31, 2011 10:08pm Jan 31, 2011 10:08pm
Quoting PeterE
yes, i have found benefit in cross-referencing myself

spoke to Shane at MG about this, he says he has not found an edge in cross-referencing tfs

so i thought i would try it for myself, plus it appeals to my desire to keep things simple

we will see

re the avatar, it is someone sitting in meditation with hands on lap
Okay. Hope your plan to keep things simple gels well. Will keep looking at avatar...see the hands...still trying to see it all.

Thanks for sharing,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,222
  • Edited 5:22am Feb 1, 2011 5:08am | Edited 5:22am
Hello Traders,

Price pushed beyond U-MLH of red fork and also cleared blue horizontal line (not by much though). Presently around a WL. Can teal U-MLH be a target? Something to consider as you prepare to trade. Let price do the talking as always. Like I said yesterday, hope we're not in for more chop.

Take care,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 2-1-11.jpg Size: 124 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,223
  • Feb 1, 2011 6:49am Feb 1, 2011 6:49am
After doing a lil' "wash 'n rinse" around the median line, I'm looking for price to make it to the target area above.
Attached Image (click to enlarge)
Click to Enlarge Name: NZD.GIF Size: 33 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,224
  • Feb 1, 2011 6:53am Feb 1, 2011 6:53am
The modified schiff of the blue fork is providing support.
Attached Image (click to enlarge)
Click to Enlarge Name: NZ.GIF Size: 34 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,225
  • Feb 1, 2011 6:56am Feb 1, 2011 6:56am
Quoting kapital
After doing a lil' "wash 'n rinse" around the median line, I'm looking for price to make it to the target area above.
Funny you should post this. Deliberated about going long on this pair. Has been finding support on an SH on the H1. Now I see it is pushing a bit. Think it has some potential to go higher, just in an area of much resistance.

Thanks for posting,

FX4
Attached Image (click to enlarge)
Click to Enlarge Name: nzd-usd 2-1-11.jpg Size: 71 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,226
  • Edited 8:33am Feb 1, 2011 8:19am | Edited 8:33am
Market seems a bit indecisive and choppy across the board. Is that just me or does someone else see the same? Been tempted to click a few times but everything seemed to have the potential to be short-lived moves. So, that means, a late entry and you're fighting already. Maybe its a day for scalpers. Will keep watching to see how things shape up. Maybe the market is waiting for US news at 11:00 am. Being painfully patient .

Thanks (in advance) for the input,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,227
  • Feb 1, 2011 9:42am Feb 1, 2011 9:42am
Hey Pike,

Tried to place a couple trades today...got the message "Invalid Prices" or something to that effect. Still in the press LOL. Trichet set to speak in about 30 minutes. Don't think I want to click then. Will keep hanging in there . Still being painfully patient.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,228
  • Feb 1, 2011 10:12am Feb 1, 2011 10:12am
Hi FX4,I want to short the GBP/USD,its in the area 6143,but i need a tell
so i wait
  • #1,229
  • Feb 1, 2011 10:33am Feb 1, 2011 10:33am
Quoting pikeliver
Hi FX4,I want to short the GBP/USD,its in the area 6143,but i need a tell
so i wait
Been watching, but I think it has some more to climb. Of course, I could be wrong...that's just how it seems to me.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,230
  • Feb 1, 2011 11:01am Feb 1, 2011 11:01am
Quoting pikeliver
Hi FX4,I want to short the GBP/USD,its in the area 6143,but i need a tell
so i wait
Pike,

Here's my H1 chart. Some sell-off at U-MLH, but notice higher high made...at least on the chart shown. We'll see how it all goes. Maybe you were interested in scalping, don't know.

Just came back to my desk and noticed some things in motion. Tempted to click but I know where that will land me. Gotta exercise discipline and wait for the proper timing. Had my trade on Nzd-Usd been accepted, I would have been up at least 35 pips by now. What's a trader to do? Go to bed early again and do it again tomorrow. Will keep looking for a bit longer. Don't like trading after noon or 1pm EST.


Take care,

FX4
Attached Image (click to enlarge)
Click to Enlarge Name: gbp-usd 2-1-11.jpg Size: 112 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,231
  • Feb 1, 2011 1:08pm Feb 1, 2011 1:08pm
Attached Image (click to enlarge)
Click to Enlarge Name: butterfly.gif Size: 42 KB


short at 26,stop 67
  • #1,232
  • Edited 1:44pm Feb 1, 2011 1:21pm | Edited 1:44pm
Attached Image (click to enlarge)
Click to Enlarge Name: target.gif Size: 44 KB


As regards this low probibility trade,i know the risk,the exit is known,the pattern is a butterfly 1.272,the pitchfork frames the trade,the trigger was a double top on the 15m chart

It may not seem much of a plan,but it is a plan lol
  • #1,233
  • Feb 1, 2011 1:29pm Feb 1, 2011 1:29pm
Quoting kapital
After doing a lil' "wash 'n rinse" around the median line, I'm looking for price to make it to the target area above.
Target achieved.
Attached Image (click to enlarge)
Click to Enlarge Name: NZ.GIF Size: 35 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,234
  • Edited 3:11pm Feb 1, 2011 2:29pm | Edited 3:11pm
Quoting pikeliver
Attachment

As regards this low probibility trade,i know the risk,the exit is known,the pattern is a butterfly 1.272,the pitchfork frames the trade,the trigger was a double top on the 15m chart

It may not seem much of a plan,but it is a plan lol
Trading is all about building a case for putting your money on the line (per Auxesis), then you watch to see if price agrees with the plan. If so, you're in business. Don't want to see you stopped out as the plan is good. Hope the market agrees that the time for it has come .

Take care,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,235
  • Feb 1, 2011 2:31pm Feb 1, 2011 2:31pm
Quoting kapital
Target achieved.
Excellent! Tried to get in twice, and both times got the message "Invalid Prices" on the platform. It went about 9 pips beyond where I thought it would: 0.7808. It actually hit the ML of the fork I drew on the earlier chart. Oh well, I keep pressing.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,236
  • Feb 2, 2011 5:07am Feb 2, 2011 5:07am
Quoting FX4Newbies
Hello Traders,

Price pushed beyond U-MLH of red fork and also cleared blue horizontal line (not by much though). Presently around a WL. Can teal U-MLH be a target? Something to consider as you prepare to trade. Let price do the talking as always. Like I said yesterday, hope we're not in for more chop.

Take care,

FX4Newbies
Price tried to make the teal ML target. Some may have thought it was far off. (Seems like I should have traded it huh, but I was asleep or otherwise occupied). Turned at WL intersection there. Looks like it is trying to go up again. Don't know how strong a move though.

Will be on the hunt for another trade and following my rules as well.

Good trading to all,

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 2-2-11.jpg Size: 127 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,237
  • Feb 2, 2011 9:52pm Feb 2, 2011 9:52pm
Here is a possible scenario which could occur throughout the course of the day:

once price reaches the above target area (circle), then a big push to the downside.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.GIF Size: 23 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,238
  • Feb 2, 2011 9:58pm Feb 2, 2011 9:58pm
A reverse scenario could occur in the above setup also with price reaching the lower parallel first and then a strong push back to the upside.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,239
  • Edited 6:54am Feb 3, 2011 5:42am | Edited 6:54am
Quoting kapital
A reverse scenario could occur in the above setup also with price reaching the lower parallel first and then a strong push back to the upside.
Hello Kapital,

Yes, both are very credible possibilities. Seems like it followed your chart example.

To traders,

Below is a simpler view of EU. Need to see a clear tell.

Take care,

FX4

P.S. Placed a "desperate" trade yesterday (EJ)...buying at Resistance? Unbelievable.The other was premature. Keepin' on though. There is a golden lining out there I know . Been there.

P.P.S. Just wanted to add we have some major news coming this morning.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 2-3-11.jpg Size: 92 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,240
  • Edited 12:43pm Feb 3, 2011 11:16am | Edited 12:43pm
Hello Traders,

Will resume the journal in about a couple of weeks or so. Have not been able to focus at all as I have too much on my plate at the moment. Most of my trades have been late or on an impulse, without proper analysis. Kept trying to trade but to no avail. I will keep the same account etc. I just need to clear my schedule so I won't be doing too many things at once.

Outcome of Performance Journal: Phase I, will be posted on the blog on Saturday.

Take care,

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