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Andrews Pitchfork (Median Line)

  • #5,261
  • Aug 17, 2012 3:08am Aug 17, 2012 3:08am
I am also watching the NSD/USD and the NZD/CHF.
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Click to Enlarge Name: NZD-CHF H1 8-17-2012 4-05-14 AM.jpg Size: 210 KB
  • #5,262
  • Aug 17, 2012 3:57am Aug 17, 2012 3:57am
I am selling the USD/CHF. I am a conservative and cautious trader so I moved my stop loss just into the "black" because I am concerned until the price moves past the recent low. I have placed my limit order at the "A" line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USD-CHF H1 8-17-2012 4-48-55 AM.jpg Size: 259 KB
Click to Enlarge Name: USD-CHF m15 8-17-2012 4-51-33 AM.jpg Size: 189 KB
  • #5,263
  • Aug 17, 2012 4:12am Aug 17, 2012 4:12am
The price of the USD/CHF has moved past the recent low, and I have just moved my stop loss furhter into the "black" just above the current H1 bar. The other I will have to watch is at the0.96964 area which is on the "C" line.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CHF H1 8-17-2012 5-06-27 AM.jpg Size: 254 KB
  • #5,264
  • Aug 17, 2012 5:11am Aug 17, 2012 5:11am
My stop loss was hit with a 6.6 PIP gain. I know that at this time of day the price usually retraces, but I am trying to not be too conservative.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CHF H1 8-17-2012 6-05-46 AM.jpg Size: 224 KB
  • #5,265
  • Aug 21, 2012 2:51am Aug 21, 2012 2:51am
I am selling the USD/CAD.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD H2 8-21-2012 3-48-19 AM.jpg Size: 223 KB
  • #5,266
  • Aug 21, 2012 5:58am Aug 21, 2012 5:58am
I am still have an open position for the USD/CAD, although it is moving very slow. I know that sometimes the price retraces about this time as it anticipates the U.S. open, so I moved my stop to just into the black.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD m15 8-21-2012 6-54-50 AM.jpg Size: 209 KB
  • #5,267
  • Aug 21, 2012 7:02am Aug 21, 2012 7:02am
My stop was triggered that took me out with a 2.1 PIP gain. I have learned that the price will retrace as the U.S. open nears. I had moved my stop into the black, because I did not know how far the price would retrace.
Attached Image (click to enlarge)
Click to Enlarge Name: USD-CAD m15 8-21-2012 7-57-36 AM.jpg Size: 190 KB
  • #5,268
  • Aug 23, 2012 3:30pm Aug 23, 2012 3:30pm
In my opinion - the fork you drew for your CAD trade was meaningless. Sometimes you need a bigger view.

Notice on my hourly CAD there are many bounces between the ML and the lower quartile. Unless you were trading that small range (only to the short side) you probably shouldn't have been in this market. Also - notice the change in behavior when price finally decides to break above the ML - this is somewhat bullish.
Attached Image (click to enlarge)
Click to Enlarge Name: USD:CADhourly.png Size: 216 KB
  • #5,269
  • Aug 24, 2012 11:15am Aug 24, 2012 11:15am
This short term Andrews on the M15 has resonated well today.
Attached Image (click to enlarge)
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  • #5,270
  • Aug 28, 2012 5:22pm Aug 28, 2012 5:22pm
gbp aud 3rd leg?
we'll see.
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  • #5,271
  • Aug 28, 2012 8:40pm Aug 28, 2012 8:40pm
Quoting longshot_nl
gbp aud 3rd leg?
we'll see.
nope.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_aud_15m.jpg Size: 77 KB
  • #5,272
  • Aug 29, 2012 11:20am Aug 29, 2012 11:20am
Hey guys,i'm not a "forker" but i've been watching this pink
fork play out for a couple of weeks,not sure if its a valid fork though,
thinking it should be drawn from the lowest point,which means that maybe
i'm curve fitting it a bit,sorry i haven't read the thread,anyone care to comment.It was drawn on the 9th of august.
Attached Image (click to enlarge)
Click to Enlarge Name: p15.gif Size: 27 KB
You can remain irrational longer than you can remain solvent.
  • #5,273
  • Aug 29, 2012 11:30am Aug 29, 2012 11:30am
And here is the Dollar,the upward green fork was drawn
when price was at the dotted green vertical line,
and the downward dark blue fork was drawn when price was at the
dotted dark blue line.
Attached Image (click to enlarge)
Click to Enlarge Name: p1.gif Size: 27 KB
You can remain irrational longer than you can remain solvent.
  • #5,274
  • Aug 30, 2012 1:44am Aug 30, 2012 1:44am
GBPJPY Daily

http://mlatrader.com/gbpjpy-a-tale-of-two-forks/
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  • #5,275
  • Aug 30, 2012 2:23am Aug 30, 2012 2:23am
Quoting jezek5
Hey guys,i'm not a "forker" but i've been watching this pink
fork play out for a couple of weeks,not sure if its a valid fork though,
thinking it should be drawn from the lowest point,which means that maybe
i'm curve fitting it a bit,sorry i haven't read the thread,anyone care to comment.It was drawn on the 9th of august.
Draw a regular Andrews from those pivots and do a modified Schiff. Then draw a line backwards to extend the tail.
Attached Image (click to enlarge)
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  • #5,276
  • Sep 5, 2012 11:33am Sep 5, 2012 11:33am
Quoting pips4life
Examine your charts for good PF's that ultimately did work out well. Notice that it can often be observed that what turns out to be a good PF going forward in time ALSO has good "pre-fork" resonance on the chart as well. That is, when the final pivot C (or 3) is formed, one can see that there is resonance backwards in time from that final pivot. This can be evidence that the final pivot has in fact formed and will hold for at least a significant bounce if not a complete reversal or major pullback.

...

That said, further study of pre-fork...
Two thumbs up!

"GIVE ME 3 POINTS IN SPACE IN TIME AND WATCH ME CREATE MAGIC."
  • #5,277
  • Sep 9, 2012 9:56am Sep 9, 2012 9:56am
Cash FX, EU Monthly, Andrews plus ModSchiff
Attached Image (click to enlarge)
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  • #5,278
  • Sep 9, 2012 10:42am Sep 9, 2012 10:42am
Looking for a gap up to fade some of these dollar pairs tonight...
Attached Image (click to enlarge)
Click to Enlarge Name: GU 240m.jpg Size: 144 KB
  • #5,279
  • Sep 9, 2012 10:47am Sep 9, 2012 10:47am
I'm looking at resistance there too..

Quoting JJTrade
GBPJPY Daily

http://mlatrader.com/gbpjpy-a-tale-of-two-forks/
Attached Image (click to enlarge)
Click to Enlarge Name: gj 240m.jpg Size: 146 KB
  • #5,280
  • Sep 9, 2012 10:49am Sep 9, 2012 10:49am
Looking for UML retest this week to sell
Attached Image (click to enlarge)
Click to Enlarge Name: eu 240m.jpg Size: 143 KB
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