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Swing trading with Andrew's pitchforks and volume analysis journal

  • #541
  • Mar 1, 2012 5:15pm Mar 1, 2012 5:15pm
Quoting bayfisherman
nice reversals off the lines would be watching the LML and the upper quartile for entries/exits.
in on nz/us now, lookn for a move up to 84692
  • #542
  • Mar 1, 2012 5:19pm Mar 1, 2012 5:19pm
dollar definitely at a breaking point one way or the other...
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  • #543
  • Mar 1, 2012 5:22pm Mar 1, 2012 5:22pm
Quoting bayfisherman
nice retest long
not liking the last few bars from the h4 on au/us, will wait for now
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  • #544
  • Edited 5:51pm Mar 1, 2012 5:26pm | Edited 5:51pm
looks to be possibly correcting not much momentum there, maybe on news tonight.
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  • #545
  • Mar 1, 2012 5:41pm Mar 1, 2012 5:41pm
potential sliding parallel resistance here at currently levels.
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  • #546
  • Mar 1, 2012 5:41pm Mar 1, 2012 5:41pm
how long do your trades usually last for? or do you have long, mid and short term positions?
  • #547
  • Mar 1, 2012 5:48pm Mar 1, 2012 5:48pm
Pound looks to be consolidating after the break...may be trapping the bulls here.
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  • #548
  • Mar 1, 2012 5:56pm Mar 1, 2012 5:56pm
Gold looks to holding resistance at the moment.
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  • #549
  • Mar 1, 2012 6:02pm Mar 1, 2012 6:02pm
Quoting Kas1
how long do your trades usually last for? or do you have long, mid and short term positions?
I usually like to hold them overnight or from the morning through the whole day because I work durning the day. I try to get 20 pips or so then b/e and let it ride till the nerves set in...there are times though when they just move sideways for a day or two then fall off. I pulled out of my EurGbp short here recently because it just doddled around for two days...wanted to use my margin elsewhere....130 pips later today...lol, ouch, needed that one. Hate it when I second guess myself like that. I pulled out of that CADchf long at 40 pips or so and it's up around 100+ now. I've been trying to look for 40 to 70 pips...it seems most of the daily ranges are within those boundaries most of the time when it works out. It's been so choppy lately up one day and down the next, I've been trying to take profit a little quicker when it pans out.
  • #550
  • Mar 1, 2012 6:16pm Mar 1, 2012 6:16pm
Quoting bayfisherman
Gold looks to holding resistance at the moment.
will look to buy silver off 35.06 in a few hours, that lasts quick drop made it a pretty erratic frequency for me though, might have to close fast.
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  • #551
  • Mar 1, 2012 6:27pm Mar 1, 2012 6:27pm
Quoting bayfisherman
I usually like to hold them overnight or from the morning through the whole day because I work durning the day. I try to get 20 pips or so then b/e and let it ride till the nerves set in...there are times though when they just move sideways for a day or two then fall off. I pulled out of my EurGbp short here recently because it just doddled around for two days...wanted to use my margin elsewhere....130 pips later today...lol, ouch, needed that one. Hate it when I second guess myself like that. I pulled out of that CADchf long at 40 pips or so and...
Thanks for the explanation. I don't use a fixed amount of pips as my targets, I like to let the range tell me where to place my entries/exits based on the frequency and percentage. Right now I will trail my trades when they move 50% into profit. I always have my pivots on the same bars back and adjust them systematically to keep it consistent. Usually none of my trades last longer then a week.
  • #552
  • Mar 1, 2012 11:11pm Mar 1, 2012 11:11pm
nice catch on oil with modified schiff on .
  • #553
  • Mar 2, 2012 5:56am Mar 2, 2012 5:56am
Quoting pipsandticks
nice catch on oil with modified schiff on .
If you are referring to the warning line bounce on previous post, ok, thanks. Not sure what you are talking about without seeing the chart.

Kiwi - Doesn't get much simpler than this...just because the line is there though doesn't mean it's going to hold, but taking it at the LML you'd be 15 pips or so in the money now. I caught it a little late but it's in the trading plan so I jumped in...invalidated below prior swing.
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  • #554
  • Mar 2, 2012 6:08am Mar 2, 2012 6:08am
+68 short
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  • #555
  • Mar 2, 2012 6:15am Mar 2, 2012 6:15am
May not get back up there but if so will definitely be looking to short this.
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  • #556
  • Mar 2, 2012 6:28am Mar 2, 2012 6:28am
Quoting Kas1
in on nz/us now, lookn for a move up to 84692
stopped out, you were right about waiting for the pullback bay...not a good week for me
  • #557
  • Mar 2, 2012 6:41am Mar 2, 2012 6:41am
if we do get flushed and reversed it will probably happen at the SP.

AU looks like it's preparing to break...lots of dollar strength this morning...don't expect my NZD long to hold...a break will be significant otherwise.
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  • #558
  • Mar 2, 2012 3:44pm Mar 2, 2012 3:44pm
still bullish but may retest ml ?
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  • #559
  • Mar 3, 2012 6:00am Mar 3, 2012 6:00am
been looking at the different pivots this morning and I'm always amazed regardless which lines you are following the fork still is showing frequency
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  • #560
  • Mar 3, 2012 7:46am Mar 3, 2012 7:46am
looking at rougher roads ahead...
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