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Pitchforks in all its glory

  • #61
  • Jul 21, 2006 7:54am Jul 21, 2006 7:54am
From now on I've decided to put this pitchfork research time into Action/Reaction pitchforks only, thus from now on I will take into consideration only pitchforks who's ML is acting as S/R trendline. I will ditch any other fork for now. Using this idea I will try to spot the area of the last pivot before it is forming.
GBPUSD 1H chart attached.

On a side note, the last USDCAD and EURCHF analysis from a few days both failed.
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-soso
  • #62
  • Jul 21, 2006 8:02am Jul 21, 2006 8:02am
EURCHF 4H. Until now this pair was not fork friendly. But I'll keep monitoring it.
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-soso
  • #63
  • Jul 25, 2006 12:56pm Jul 25, 2006 12:56pm
Quoting soso_beton
EURCHF 4H. Until now this pair was not fork friendly.
I'm afraid i have to disagree on this one

BTW how to make those images to apear strait on the thread instead of clicking on it to see it?
Attached Images
  • #64
  • Jul 25, 2006 3:57pm Jul 25, 2006 3:57pm
Hi Rublis and welcome, I concur with ya . Never go against a clear trend, right? Even when using pitchforks . Nice charts btw.

Attached is chart with my view, these days I put more value on A/R lines, not all my pitchforks are built using clean pivots as you see. But I feel I'm on the right path in this quest.

Please do continue and share your ideas in here if you feel like.

Images appear straight in the thread if you upload only 1 image per message.

Quoting rublis
I'm afraid i have to disagree on this one

BTW how to make those images to apear strait on the thread instead of clicking on it to see it?
Attached Image
-soso
  • #65
  • Edited 2:59am Jul 26, 2006 2:45am | Edited 2:59am
Quoting soso_beton
Hi Rublis and welcome, I concur with ya . Never go against a clear trend, right? Even when using pitchforks . Nice charts btw.

Attached is chart with my view, these days I put more value on A/R lines, not all my pitchforks are built using clean pivots as you see. But I feel I'm on the right path in this quest.

Please do continue and share your ideas in here if you feel like.

Images appear straight in the thread if you upload only 1 image per message.
well yes, i guess choosing the first fork point freely makes it to A/R lines, because the distances between them is equal
  • #66
  • Jul 27, 2006 4:38am Jul 27, 2006 4:38am
EURCHF, possible buy zone.
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-soso
  • #67
  • Jul 27, 2006 7:26am Jul 27, 2006 7:26am
What about this one? As you see it also has real first pivot and multipivot median.
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  • #68
  • Jul 27, 2006 7:47am Jul 27, 2006 7:47am
Nice spot Rublis! I've incorporated your fork into my analysys, the multipivot ML is key.

Ok, updated analysis on EURCHF, blue thick line I'm considering it as a median A/R line. It is the median line of Blue and Brown forks.

Blue rectangles are confluence areas that I will monitor. More lines at the confluence more important it is.
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-soso
  • #69
  • Jul 28, 2006 10:48am Jul 28, 2006 10:48am
GBPUSD 4H. Purple fork possible retest.
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-soso
  • #70
  • Edited 12:19pm Jul 30, 2006 11:56am | Edited 12:19pm
Ok, I took this long trade at around blue arow (SL=TP=45pips). At least for now it seems like quite a good call, just hoping it will continue the same way. Notice that fork is a little bit modified compared to previous image. Also notice those thick blue vertical lines, its around the same length (seems like there might be some more oscilations around Big forks median)
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  • #71
  • Jul 31, 2006 4:46am Jul 31, 2006 4:46am
I guess it might be a good idea to go short on eur/usd if it breaks the fork to the marked area
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  • #72
  • Jul 31, 2006 3:28pm Jul 31, 2006 3:28pm
GBPUSD 4H update.

Charting update since last post: Purple fork invalidated from the start and a new green fork instead of the previous one.

I know that almost everyone is calling the topping of EURUSD/GBPUSD but what I see are two up sloping forks.
Truth is 1) price has reached the top of the green fork and 2) in the last two market days (friday and today) it failed to reach the ML of the blue fork concluding that the blue fork could very well be violated on the downside, thus a topping could indeed be in this area. But not a trend reversal, at least not yet.
Attached Image
-soso
  • #73
  • Aug 1, 2006 2:53pm Aug 1, 2006 2:53pm
GBPUSD update.

Charting update since last post: Added Brown fork, it contains the latest move up.

There was no top, when all forks are up-sloping it wouldn't be a good idea to short, after all it means that price is traveling up.
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-soso
  • #74
  • Last Post: Aug 17, 2006 6:00am Aug 17, 2006 6:00am
Original fork still holding. Looks as if it will have to break soon?


Gordon
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