Andrews Pitchfork (Median Line)

1.6443/1.6633 +190

we may have here posible short.
the price reaching major resistance lvl, weekly pivot resistance and confluence of two pitch forks. plus right now we have cci divergence ( need to monitor it and check if it will hold like this).
i would like to see the green TL break and then go short or reach the resistance area and see some reverse pattern + devergence.
what do you think??

what do you think about this pair??? it looks like the price tried to break the low line of high time frame pitchfork , but failed. now he is resting on weekly pivot support and looks like willing to go back into lower time frame fork.

now im just learning volume so i may be wrong but , this candle with shadow lengh as big as it body and hight volume bar, may tell that we have strong
buy at this area.
so i would like to see some retest of that area, with cci divergense for long.
or if prise will not retest that area to look for entrance above the sma.

Through understanding and practice, you will eventually master your craft (trading).

Anyone catch this one ?

On 24 April 2011 after two daughters my first boy was born. I think his name will be Alex and maybe another fork trader



After two days



Catalin

Congratulations!

Two forks, a Daily (black) and an H1 (light blue), nailed the EU high today. This is the 2nd exact touch of the black fork, the first being 107 hours earlier on 4/27 23:00 ET). The light blue fork touch 2-3 hours prior, was rejected, then came for a final touch at 10:01.

After the peak, the Red fork appears to have been in play, with a near touch of the ML (on an H1 chart; it touched on an H4 chart).

P.S. Congrats justcatalin. Looks like you have your baby dressed in horizontals (like price bars) to start. Maybe there's a video series you can look into (i.e. Baby Fibonacci ??) haha.

In the context of poker, this is what I call holding the cards close to your vest.

Gotta luv those forks...

...

First Target is 1.58

Hi Catalin,

Congratulations!!!

Everything started falling, except Euro. It took longer for it to move down, but when it finally did... what a move!

I caught it unfortunately on H4 only, using my old technique: Pin Bar.
It's still hard for me to do touch trading, and I don't think I ever will, especially against up-sloping forks. Then again, who knows.

I've had a 30-minute setup, too, but I was already in on H4 and still not in profit, so I decided against it. Chicken.

I follow 2 forks on Euro, gray is the main one on daily, green with 2 warning lines is the minor one. Additionally there is also weekly fork.

The frequency of price was along the minor green fork, all the way up, just changing lines to higher ones, and almost touching the 2nd warning line.
However, the price has shown very good obedience to resistance posed by the major fork's median.

On H4 very nice trading range has formed ending up in upthrust with pin bar.

Right now price has fallen through simple trendline (red dotted line) to the upper parallel of the minor fork. Very strong move. Right now I'm 520 pips in profit. Itchy, very itchy to close all or half at least.

Follow-up to earlier chart.

Inner fork is a modified schiff.

On the daily chart, price is near the lower parallel. This pretty much coincides with a support level at 1.4.

xtsunami, are you still around mate? We used to be a part of the contrarian group @ Moneytec, my handle was rufffen. Would be good to catch up with you guys at any rate. Let me know.

Eur/Usd

Alex C, I've had this Euro fork on my screen for a long time, ever since price bounced off 1.2923, which could have been expected given that this was the previous upswing's CIB line.

I'm curious what would convince you to go long? What kind of bounce would you like to see off the LML parallel?

Also, have you taken a look at the wider weekly context ? I'm not saying it's going down for sure, but some bearish arguments definitely exist.