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Swing trading with Andrew's pitchforks and volume analysis journal

  • #41
  • Nov 25, 2011 10:41pm Nov 25, 2011 10:41pm
If we break to new lows on the selloff these are some levels I"m looking at.
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  • #42
  • Nov 26, 2011 7:26am Nov 26, 2011 7:26am
Another trader brought this chart to my attention so I decided to mark it up...

If anyone has any requests just post a chart of what you have and I'll mark it up on my side as well...I'm always looking for good trade ideas.
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  • #43
  • Nov 26, 2011 9:34am Nov 26, 2011 9:34am
Quoting Incrediblle
I have drawn this pitchforks kindly please verify if they are correct....
Remember to use the last three current pivots...you have yours drawn
off the current price action...your C point has not formed a pivot/swing
yet...price could continue and your C point would be wrong. You need to
back all three of your points one swing from current price action.

Inserted Video
  • #44
  • Edited 10:03am Nov 26, 2011 9:39am | Edited 10:03am
Quoting bayfisherman
Remember to use the last three current pivots...you have yours drawn
off the current price action...your C point has not formed a pivot/swing
yet...price could continue and your C point would be wrong. You need to
back all three of your points one swing from current price action.

http://www.youtube.com/watch?v=DKuqt...eature=related
ok understood so the last point shud be left alone.....is it true that prices are always attracted to median line?
Trade responsiblypatience is the key/Swing trader
  • #45
  • Nov 26, 2011 10:15am Nov 26, 2011 10:15am
So I'm using my demo account...here's some charts I've been looking at this morning.
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  • #46
  • Nov 26, 2011 10:46am Nov 26, 2011 10:46am
I don't know how accurate this is because I'm new to volume analysis,
but it's really starting to make more sense as you see the result in price
action...What is the big money doing that is the question...they can't hide it, it's shows up in the volume and price action is the result.
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  • #47
  • Nov 26, 2011 8:32pm Nov 26, 2011 8:32pm
Quoting bayfisherman
I don't know how accurate this is because I'm new to volume analysis,
but it's really starting to make more sense as you see the result in price
action...What is the big money doing that is the question...they can't hide it, it's shows up in the volume and price action is the result.
hi bay, can u explain a tad more about that swing sort of thing?

looks very interesting
Have I got something on my face, SOLDIER?
  • #48
  • Nov 26, 2011 10:08pm Nov 26, 2011 10:08pm
Quoting bumapatria
hi bay, can u explain a tad more about that swing sort of thing?

looks very interesting
I'm not sure what your question is...swings are significant areas where the market turns....I try to trade from one swing to the next long and short, using momentum change at support/resistance confirmed in the volume...
  • #49
  • Nov 26, 2011 10:56pm Nov 26, 2011 10:56pm
Quoting bayfisherman
I'm not sure what your question is...swings are significant areas where the market turns....I try to trade from one swing to the next long and short, using momentum change at support/resistance confirmed in the volume...
hahha thats not what i meant, i meant swings in volume that can confirm a market swing!

hahaha
Have I got something on my face, SOLDIER?
  • #50
  • Nov 26, 2011 11:04pm Nov 26, 2011 11:04pm
You need to watch this...he can explain it better than I can...

Inserted Video
  • #51
  • Nov 27, 2011 1:03pm Nov 27, 2011 1:03pm
So bare with me as I use this other stuff to do my charts. Hope this helps. Let me know if you have any questions...markets open in 3 hrs.
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  • #52
  • Nov 27, 2011 1:05pm Nov 27, 2011 1:05pm
Here's the last one...more to come later on smaller time frames if I can get my connection up and running.
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  • #53
  • Nov 27, 2011 5:35pm Nov 27, 2011 5:35pm
Here's the dollar index...for some reason my drawing platform is not cooperating...

Here's a shot of the futures contract and one of the cash market.
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  • #54
  • Nov 27, 2011 5:56pm Nov 27, 2011 5:56pm
Got short on the trendline break...look to see if we can fill the gap.
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  • #55
  • Edited 8:50pm Nov 27, 2011 7:41pm | Edited 8:50pm
Let's see if we can catch a runner on this retest... looks like the momentum is not there may have to ditch this unless it gets some legs here soon.

8:02 CST looks like the high has been tested a 3rd time and rejected...may see some action after all...
8:07 CST sell stop orders below 1.3308. Consolidating between the high and there...still looking for a break back down to fill the gap.
8:15 finally some breaking action short AU long EurAud still short EU
8:28 trades still waffling...dollar cash has put in a nice doji on the 78.6 fib if we hold here we will see a nice push.
8:36 5th test of the high EU may have to take the loss and regroup...doesn't look like it's going to hold
8:49 EU may finally be giving up the ghost...sell stop orders executed on down thrust off the high
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  • #56
  • Edited 9:42pm Nov 27, 2011 8:55pm | Edited 9:42pm
about to call it night if this one doesn't break down soon. Choppy up here.
9:03 1.3326 being tested yet another time...some one definitely wants
to buy this market...might try to play the break here to the long side if its not going to give up the ghost short here.
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  • #57
  • Nov 27, 2011 9:01pm Nov 27, 2011 9:01pm
Quoting bayfisherman
about to call it night if this one doesn't break down soon. Choppy up here.
looks like a possible h/s on ur chart above
Have I got something on my face, SOLDIER?
  • #58
  • Nov 27, 2011 9:17pm Nov 27, 2011 9:17pm
EU had a nice pullback to the 38 fib and now has close to a new high...dollar cash has broken down it's 78 fib expect to see the 100, 127/138 now...Long on the break...tight stops on EU short stopped for a loss. Commodity currencies look the strongest AU, NZD, CAD...Big boys must be back buying stocks on sale...black Sunday...lol!
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  • #59
  • Nov 27, 2011 9:32pm Nov 27, 2011 9:32pm
need to play a bit wider stops and little bit lower leaverage...they just took out the stops and flushed...I'm done

This is what happens when you try to be too precise...hope some of you
caught the move...saw it setting up just second guessed myself.
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  • #60
  • Nov 28, 2011 4:57pm Nov 28, 2011 4:57pm
Daily trendline resistance being tested right now.
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