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Kapital's lines of force trading

  • #41
  • Nov 24, 2011 1:55am Nov 24, 2011 1:55am
Quoting kapital
Let's see if price has enough momentum to carry it down to the median line.
Look at how price was constantly attracted to the upper parallel before falling to the median line.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #42
  • Nov 24, 2011 5:39am Nov 24, 2011 5:39am
Quoting kapital
A different perspective...

...
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #43
  • Nov 27, 2011 8:49am Nov 27, 2011 8:49am
"Floating Forks"
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #44
  • Nov 27, 2011 6:14pm Nov 27, 2011 6:14pm
Price made a nice bounce to start the week, but immediately fell from horizontal resistance. If it is able to break through, the median line would be the target. Bottom target is the lower parallel or horizontal support.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #45
  • Nov 28, 2011 4:10am Nov 28, 2011 4:10am
Quoting kapital
Price made a nice bounce to start the week, but immediately fell from horizontal resistance. If it is able to break through, the median line would be the target. Bottom target is the lower parallel or horizontal support.
Price reached the median line with a strong hourly close above it and pushing even higher thereafter. If price can continue upwards, I'm looking for it to target the lower parallel (arrow).
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #46
  • Dec 1, 2011 7:33am Dec 1, 2011 7:33am
...
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #47
  • Dec 5, 2011 2:40pm Dec 5, 2011 2:40pm
The pitchfork is a great timing tool.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #48
  • Dec 5, 2011 6:45pm Dec 5, 2011 6:45pm
While attempting to convert current price from USD/JPY (77.75) to JPY/USD (122.25), I realized that it was near the high (All-time?) from 2007 which was 124.12. It was then that I had the thought of drawing action-reaction lines with the price of 100.00 serving as my centerline.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #49
  • Dec 5, 2011 7:04pm Dec 5, 2011 7:04pm
If price doesn't break the recent monthly lows with strong momentum, the highlighted region could possibly end up being the trading range (apprx. 75.00 - 82.00) for the year 2012.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #50
  • Dec 6, 2011 5:29am Dec 6, 2011 5:29am
A few appropriate quotations:

"If it ain't broke, don't try to fix it."

"Know when you have a good thing."

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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #51
  • Dec 6, 2011 10:38am Dec 6, 2011 10:38am
The gift which keeps on giving.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #52
  • Dec 7, 2011 8:59pm Dec 7, 2011 8:59pm
The next two days should bring significant volatility with interest rate decisions (GBP & EUR) and the EU Economic Summit.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #53
  • Edited 10:20am Dec 8, 2011 8:16am | Edited 10:20am
If I'm correct with this setup, there should be some buying around 1.3300 (2nd warning line). If price shoots through that level, I'll look for it to come back to close above it. If it doesn't come back and close above, I'll look for support at the 3rd warning line.
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #54
  • Dec 8, 2011 9:32am Dec 8, 2011 9:32am
I just realized I had not drawn any lines for the modified schiff. One of its lines provided support on the first run down. However, price is back in the area, which increases the probability that price will break through. If that occurs, I'm looking for support where the arrows are.

(I removed the other pitchfork I had drawn, which was a catalin by the way.)
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #55
  • Dec 8, 2011 12:38pm Dec 8, 2011 12:38pm
Quoting kapital
The next two days should bring significant volatility with interest rate decisions (GBP & EUR) and the EU Economic Summit.

Without a doubt!
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"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #56
  • Dec 8, 2011 3:34pm Dec 8, 2011 3:34pm
Quoting kapital
If I'm correct with this setup, there should be some buying around 1.3300 (2nd warning line). If price shoots through that level, I'll look for it to come back to close above it.
And it did just that...
Attached Image (click to enlarge)
Click to Enlarge Name: EU.GIF Size: 34 KB
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #57
  • Dec 9, 2011 12:22am Dec 9, 2011 12:22am
Quoting kapital
I just realized I had not drawn any lines for the modified schiff. One of its lines provided support on the first run down. However, price is back in the area, which increases the probability that price will break through. If that occurs, I'm looking for support where the arrows are.

(I removed the other pitchfork I had drawn, which was a catalin by the way.)
Hi Kap,

Love the 3-D look to your first fork . Question: What was your reasoning behind the selection of Pivot 3?

Thanks,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #58
  • Dec 9, 2011 2:25pm Dec 9, 2011 2:25pm
Quoting FX4Newbies
Hi Kap,

Love the 3-D look to your first fork . Question: What was your reasoning behind the selection of Pivot 3?

Thanks,

FX4
I never looked at it as if it was in 3D...thanks for the perspective.

I chose it because it was an extreme pivot and that I was looking to draw a fork using low-high-high or high-low-low pivots.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #59
  • Dec 10, 2011 12:57pm Dec 10, 2011 12:57pm
Quoting kapital
I never looked at it as if it was in 3D...thanks for the perspective.

I chose it because it was an extreme pivot and that I was looking to draw a fork using low-high-high or high-low-low pivots.
What's the reasoning behind the high-low-low or low-high-high pivot sequences? Sometimes the line of force is not defined by the low-low or high-high pivot sequences. Are we mapping out virtual lines of force here?

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #60
  • Edited 9:25pm Dec 10, 2011 8:23pm | Edited 9:25pm
My choice of choosing this fork configuration was via experimentation. I've seen enough in backtesting to find them valid enough to use.

I view any pivot which "sticks out" in any given area to be significant to some degree. They may not always provide a valid fork or trendline with some pivots (which seem obvious to choose), but they do with others. Sometimes you may only receive two bounces off a line(s), after which, it has served its purpose.

Let me also say that a pitchfork doesn't always serve the purpose of defining the path of price. It sometimes serve to stall price, cause a pullback, or even a full reversal.
"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
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