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Pitchfork Goldmine!

  • #1,261
  • Feb 5, 2011 6:22pm Feb 5, 2011 6:22pm
Thank you for your words FX4Newbies.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,262
  • Feb 5, 2011 6:25pm Feb 5, 2011 6:25pm
I wish I had seen this one earlier.
Attached Image (click to enlarge)
Click to Enlarge Name: DAILY UJ.GIF Size: 34 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,263
  • Feb 5, 2011 6:28pm Feb 5, 2011 6:28pm
...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ1.GIF Size: 36 KB
Click to Enlarge Name: UJ2.GIF Size: 35 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,264
  • Feb 5, 2011 6:41pm Feb 5, 2011 6:41pm
Hello Traders,

Just letting you know that the Weekly Wrap-Up Charts are now available on the blog.

Enjoy the rest of your weekend.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,265
  • Edited 6:54pm Feb 5, 2011 6:44pm | Edited 6:54pm
Quoting kapital
Thank you for your words FX4Newbies.
No problem. I think you have a very good eye. Your first Usd-Jpy Daily chart caught price beautifully. Very nice chart. Been looking more into trading longer time-frames. That may be one of the solutions to my choppy schedule and needed focus for trading . My schedule may actually be pushing me to the H4s or Dailies which may be better overall. We'll see.

Take care,

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,266
  • Edited 11:11pm Feb 5, 2011 10:40pm | Edited 11:11pm
In the use of daily charts, I'm seeking the use of geometry on candles spanning several days instead of weeks and months. That way, my main focus can just be on a few candles as opposed to a truck load full.

Another benefit of trading the daily chart is that you can count on having a high pip count when you take profit.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,267
  • Edited 4:37am Feb 6, 2011 4:15am | Edited 4:37am
Quoting FX4Newbies
Hey Kapital,

Seems like price liked the WL on the second chart better.
It actually was the second warning line on the second setup. However, if I had used a wider range to the left with my fork, it provided the best setup out of the previous ones I posted.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZ1.GIF Size: 37 KB
Click to Enlarge Name: NZ2.GIF Size: 30 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,268
  • Feb 6, 2011 4:40am Feb 6, 2011 4:40am
This regular schiff didn't do too bad of a job either.
Attached Image (click to enlarge)
Click to Enlarge Name: NZ3.GIF Size: 32 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,269
  • Feb 6, 2011 7:37am Feb 6, 2011 7:37am
Catalin Fork...price met good resistance (w/separation) at the upper midline.

Look for a potential move to the downside if price reaches it again.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.GIF Size: 25 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,270
  • Feb 6, 2011 6:47pm Feb 6, 2011 6:47pm
Quoting kapital
This regular schiff didn't do too bad of a job either.
I'd have to agree...looks like Mod. Schiff though. That was a nice fork for sure.

FX4Newbies
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,271
  • Feb 7, 2011 12:14am Feb 7, 2011 12:14am
It's a regular schiff. I used the high at the top on the extreme right.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,272
  • Edited 6:04am Feb 7, 2011 5:39am | Edited 6:04am
Thanks Kapital for the clarity.

Have to be out today. Good trading to you all. Looks like there is room to fall further...another scenic route?

FX4Newbies
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd 2-7-11.jpg Size: 145 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,273
  • Feb 7, 2011 7:59am Feb 7, 2011 7:59am
Potential short setup; downfork is a regular schiff

(the lower parallel of the upfork is a potential target as well)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: UJ.GIF Size: 38 KB
Click to Enlarge Name: UJ2.GIF Size: 34 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,274
  • Feb 7, 2011 9:32am Feb 7, 2011 9:32am
Just added a few more lines...I'm still keeping an eye on the upfork from the previous charts (it's in the background)...I want to place more focus on this one.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.GIF Size: 34 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,275
  • Feb 7, 2011 9:42am Feb 7, 2011 9:42am
Quoting kapital
Just added a few more lines...I'm still keeping an eye on the upfork from the previous charts (it's in the background)...I want to place more focus on this one.
Hi Kapital,

Just got in and checking to see where things are. Thanks for your charts. No clear tells for me yet on Dollar/Yen. Will take some time to settle into the flow of these pairs. This jumping in without "getting the feel of the market" has not been good.

All the best today,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,276
  • Feb 7, 2011 9:57am Feb 7, 2011 9:57am
Hello Kapital,

Here is my view of Usd-Jpy...on H1. Need a tell as it is in a place of decision. This pair seems to want to go upward. No need for us to guess in my opinion. Just wait on the market to speak .

FX4
Attached Image (click to enlarge)
Click to Enlarge Name: usd-jpy 2-7-11.jpg Size: 91 KB
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,277
  • Feb 7, 2011 12:56pm Feb 7, 2011 12:56pm
The battle wages on...
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.GIF Size: 29 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,278
  • Edited 3:51pm Feb 7, 2011 3:40pm | Edited 3:51pm
Quoting kapital
The battle wages on...
Yes it does!

The yellow more "orthodox" fork got some nice touches. For newer traders, the purplish fork may be challenging. One of Andrews' "rules" allows for the first pivot (still alternating in position H-L-H etc.) to be farther than the "usual" pivot. Is that the rule you are following here?

Thanks,

Donna
Trade what you see, not what you think or feel. Let the market come to you.
  • #1,279
  • Edited 7:21am Feb 8, 2011 6:53am | Edited 7:21am
If accumulation at these levels is occurring by "those with "deep pockets", then it's going to be a very sweet ride to the upside!

(I like the frequency the downward fork is showing. Nice separation at the 1st downward warning line. Might see a strong reaction (either way...upward bias though) once price reaches the second.)
Attached Image (click to enlarge)
Click to Enlarge Name: UC.GIF Size: 36 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #1,280
  • Feb 8, 2011 6:58am Feb 8, 2011 6:58am
Quoting FX4Newbies
Yes it does!

The yellow more "orthodox" fork got some nice touches. For newer traders, the purplish fork may be challenging. One of Andrews' "rules" allows for the first pivot (still alternating in position H-L-H etc.) to be farther than the "usual" pivot. Is that the rule you are following here?

Thanks,

Donna
I was going with what price was telling me.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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