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  • #61
  • Dec 14, 2011 9:09am Dec 14, 2011 9:09am
Quoting Dave Floyd
We too were watching USD/NOK as a short set-up into the 5.80/90 area, but with weak equities, weak oil and then the 50 bp cut by Norges Bank - it tossed the framework out the window.
Thanks for your comments DV and please feel free to share whenever you can.
  • #62
  • Dec 14, 2011 9:54am Dec 14, 2011 9:54am
Quoting TheLastCoke
LS do you have a record or previous setups where this way or plotting was implemented or any material in the subject? I understand it as equidistant lines strategy insted of pithfork.
right, i called it pitchfork strategy becouse i learned it from someone with pitchforks..
If you say equidistant lines strategy is the correct term then i will use that in the future.
Although when i google on it i cannot find it.
I have no record of this material no.
But you could check the pitchfork thread to charts who see this the same as i do.

http://www.forexfactory.com/showthre...74#post5222874

edit:
ok i found this among my charts.
this this an example of it working.
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  • #63
  • Dec 14, 2011 10:00am Dec 14, 2011 10:00am
Quoting longshot_nl
right, i called it pitchfork strategy becouse i learned it from someone with pitchforks..
If you say equidistant lines strategy is the correct term then i will use that in the future.
Although when i google on it i cannot find it.
I have no record of this material no.
But you could check the pitchfork thread to charts who see this the same as i do.

http://www.forexfactory.com/showthre...74#post5222874
Will do thanks but anyhow similar to the I use channels.
  • #64
  • Dec 14, 2011 10:02am Dec 14, 2011 10:02am
seems we missed eachother becouse we posted at same time.
i edited my previous post by adding a chart.

Quoting TheLastCoke
Will do thanks but anyhow similar to the I use channels.
but channels only have top and bottom.
this strategy has diagonal support resistance in the direction of the channel like in the chart i posted.
  • #65
  • Dec 14, 2011 10:07am Dec 14, 2011 10:07am
Quoting longshot_nl
seems we missed eachother becouse we posted at same time.
i edited my previous post by adding a chart.



but channels only have top and bottom.
this strategy has diagonal support resistance in the direction of the channel like in the chart i posted.
Same principle, symmetry can be found all over the market.
  • #66
  • Dec 14, 2011 10:11am Dec 14, 2011 10:11am
Quoting TheLastCoke
Same principle, symmetry can be found all over the market.
right...
heres some explanation about the diagonal support / resistance..
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  • #67
  • Dec 14, 2011 10:30am Dec 14, 2011 10:30am
Quoting longshot_nl
right...
heres some explanation about the diagonal support / resistance..
Right, parallelism was kept, just like an AB=CD pattern wher D=100%, it forms a perfect equdistant channel.
  • #68
  • Dec 14, 2011 10:36am Dec 14, 2011 10:36am
i am trying to make my mind up about silver...
i think its working on the final wave down.
maybe it bounces off the blue line again or close to it..
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  • #69
  • Dec 14, 2011 10:43am Dec 14, 2011 10:43am
Quoting longshot_nl
i am trying to make my mind up about silver...
i think its working on the final wave down.
maybe it bounces off the blue line again or close to it..
Have you tried to fit a fib to the blue level?
  • #70
  • Dec 14, 2011 10:55am Dec 14, 2011 10:55am
Quoting TheLastCoke
Have you tried to fit a fib to the blue level?
my ew count.
161.8 previous wave.
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  • #71
  • Dec 14, 2011 11:11am Dec 14, 2011 11:11am
This may add a bit to your bearish view and might give you an entry.

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  • #72
  • Dec 14, 2011 11:20am Dec 14, 2011 11:20am
Look at this confluence: 23% Fib + Previous Bottom.

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  • #73
  • Dec 14, 2011 12:28pm Dec 14, 2011 12:28pm
Quoting longshot_nl
TLC, about your aud cad flag setup...
these levels are being retested time and again.
levels worked, just not entirely as i thought.
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  • #74
  • Dec 14, 2011 12:55pm Dec 14, 2011 12:55pm
My view on EUR GBP.

a bit too much info on 1 chart, sorry about that.
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  • #75
  • Dec 14, 2011 12:57pm Dec 14, 2011 12:57pm
Quoting TheLastCoke
EUR/USD Finding support on Nov 30th 2010 lows
Quoting TheLastCoke
EUR/USD Got a 40 pip rejection so far at this low

Attachment
EUR/USD We may need to wait until tomorrow when volume kicks in again to see how this level is really going to perform.
  • #76
  • Dec 14, 2011 1:05pm Dec 14, 2011 1:05pm
Quoting TheLastCoke
EUR/USD B level broke, minor rejection at S2

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EUR/USD I might join Bulls if D level is met before Friday.
  • #77
  • Dec 14, 2011 1:16pm Dec 14, 2011 1:16pm
Quoting TheLastCoke
EUR/USD We may need to wait until tomorrow when volume kicks in again to see how this level is really going to perform.
you chose that level becouse of hard rejection on the past?
it was a pinbar on weekly.
this is my view for the coming 6 months or so.
about the same as my EG but bit different timeframe.

i just realized i may be posting too much.. i leave it more to others now then.
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  • #78
  • Dec 14, 2011 1:23pm Dec 14, 2011 1:23pm
Quoting longshot_nl
you chose that level becouse of hard rejection on the past?
it was a pinbar on weekly.
this is my view for the coming 6 months or so.
same as my EG.

i just realized i may be posting too much.. i leave it more to others now then.
EUR/USD I simply like the confluence between D level + that low (Powerful Rejection) + ocillators are showing over sold condition as well.
  • #79
  • Dec 14, 2011 1:53pm Dec 14, 2011 1:53pm
last message for today.
if you where following the thread.
i just noticed this.
same as my GJ example.
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  • #80
  • Dec 14, 2011 1:56pm Dec 14, 2011 1:56pm
Quoting TheLastCoke
EUR/USD I simply like the confluence between D level + that low (Powerful Rejection) + ocillators are showing over sold condition as well.
Adding in some inter-market analysis to the mix here, the current count we have on the S&P 500 is bullish (although pre-holiday liquidity could make things less clean) as 1210/05 might provide dent support, thus would be supportive of a bullish EUR/USD. However, EUR/USD has been a dog on S&P rallies - there are better pairs/crosses to play if the S&P's bounce IMO.

http://www.aspentrading.com/uploaded...12.14.11ES.png
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