Andrews Pitchfork (Median Line)

of interest

ECH

hidden divergence+upper ml resistance.it sounds short

fwiw

EU60, if it makes it will it hold given the bad news?

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Downward sloping trendline above is my target.

Target met.

Would you mind elaborating a bit more on this?

If you draw a fork and you find it is in tune also with past price then it have more chance to be a proper fork. See here on MT5 you can have the pitchfork to ray left in the properties. Of coarse you can reproduce it in MT4 but it's harder.

Something to share:

http://www.forexfactory.com/showpost...&postcount=120

http://www.forexfactory.com/showpost...&postcount=121

Thanks for the response.

Checked out your posts....very nice. Will keep an eye. I think ellipses are a plus if one can find a systematic approach. Will have to carve out some time for that...not now though. Will observe your charts in the meantime .

Thanks for putting them out there.

FX4

You've been working with them ellipses for some time now, good job! keep up the good work.

I had a bad trading week like i guess a lot of us! Price wouldn't behaved as usual and at some point decision had to be taken to reduced the risk. Listening to other advice didn't help as i refrain from going long on Friday morning on what seem a nice opportunity, just to miss the move of the week, I gave a shot at a trading simulator this morning and it made me realized i am a very good analyst but a lousy trader. Trading takes a lot of patience, work, and timing. It is a full time job. I should had went long when i called the bottom in post 4059, set my target a ML and hold tight but instead i went long and short several times at any sign of reversal simply to loose more then i should had.

Ok now i should think it once, set my entry, my SL and if i get into profit, manage my target. I should not let myself influenced in any way by any external factor after i take my decision.

Now euro have reach a ML it might just reverse from here, or it may just break to the top for a major rally

Humm let's play it dumb. Friday rally was the usual friday profit taking. It had been in a corrective wave the whole week and and the bears got pissed off ang got off the train all at the same time leaving the ball to the bulls. Now i bet there is a massive bears barrage at 3743-3757.

On fibs side of view, we can see that price have dance around 38.2 and 61.8 all week. It is now on the .886 of the last leg down and on the ML.. So we can conclude a cycle have finished Now is a new down move is brewing, it is hard to say. I might be putting to much energy on this i don't know, until my analysis is finished, i am open to comments.

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To help, figure your time frame of trade, 240 minute charts could mean a few to several days for price to make it's mark, but there should be some type of timing involved to establish a gauge for risk. stepping down on the time charts shortens the window,but regardless of your chosen time frame the smaller charts must support the view, be in concert as the smaller must conform to the larger. Simply, if your long but price is making lower lows, oops.

There will always be that trade that got away, or exiting too early, fake outs, ect ect ect..... don't dwell on them, concentrate on trading properly, emotionally in check, and be happy with the profits.

fwiw.

I can't definitively trade hourly or lower. I am trying 4hr but i still miss London-NY session since i work. I can check around 6:30-6:45 EST and then during the evening 16:00-22:00 EST. I don't have patience to trade Daily charts. I do on a different demo account but price action is not the same. Action is way too slow. There is no solution but to paper trade until i retire in 20 years from now. I am supposed to have mobile internet access on my work laptop very soon (it was supposed to be this week but it might be one more month of waiting) here in Canada salary are relatively high but mobile internet access is still stupidly expensive as with taxes and cost of living.

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ML not well confirmed, but

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