The One: Price Action and Reaction

Euro turning slightly at decision point

A couple other commodities oil nat gas and coffee

i think for the beginner it would be more easy if u would explain how u choose to setup the pitchfork

This free webinar should help. I will also post to the main thread.

https://www.interactivebrokers.com/e...&ns=T#industry
Click on CME - Using Median Lines & Pitchforks for High-Probability Trading

direct link
https://interactivebrokers.webex.com...ecordingURL.do

Look what happened to USDCAD, coincidence?

Waves within Waves

ou, yes


no coincidence in universe.....


have a nice weekend

Are we beginning to see? Questions?

Drawing pitchforks (forks) at first may be confusing. It takes practice. The purpose of the fork is to describe or outline price action in a way that makes sense.


Starting with something basic we can identify the most current swing highs and lows and use these to draw forks. We always want high low high or low high low.

This is the most recent fork. It is new but no less valid. One could use this fork.

This is an alternative to the previous fork, but it is incorrect because it is high, high, low.


I know this seems immediately confusing but it is the reality of drawing forks. The above forks are new and may or may not produce actionable trades.

More to come.

An upchannel is forming. It would be nice to describe this with a fork. Find highs and lows. Make sure they properly alternate.


Here we go. Don't get worried that price doesn't exactly match or respect the fork lines.


Price exceeded the bottom line. We can draw a parallel derived from the fork. As you can see later price revisited the parallel.

So far I've outlined fairly recent price action. One can do this and be fine. I prefer to zoom out just a bit more and capture more information if I can.

Here is EURUSD again zoomed out a bit more. You can see overall price is in a down trend.

We look for significant highs and lows behind the price action we wish to outline.


Boom!


The fork describes the overall path of price. The fork upper, lower and median line are one part of the overall picture. We can more clearly see the diagonal support and resistance with the help of the fork.

Do you mean like this?

I hope it helps a bit. It takes practice but really it's fun. In no time you will see and be able to fork (lol) with no problem.

Don't forget horizontal s/r. Confluence increases probability of success.

New training video on how to draw a fork 240m GBPUSD

Very good... similar

Very nice webinar by Tim Morge.

I was intrigued by what he called "energy points" as I have been using them unknowingly as major points of interest on my charts for quite some time now. I sort of stumbled onto them just through personal experiments. The energy point is simply a point of confluence where two lines trending in opposite directions intersect. These areas tend to reject price and reverse or accelerate through and continue in the same direction with more momentum than normal price action.

Ironic that earlier this morning, before viewing the webinar I had initiated a UCAD long based on this exact scenario. Hope you don't mind me sharing it here.

Red circle is the energy point and note the reaction in the second chart. Price literally stopped at the exact point of intersection and then reversed with a lot of momentum initially creating a nice pin bar on the 4H, then ultimately price continued upwards nearly 70 pips

Note: There was also a horizontal line at this level (based on the same teachings in this thread) that I had deleted so I could see the chart a bit cleaner before entry

I am excited to test these "energy points" out with multiple forks coupled with the horizontal lines we have been discussing in this thread. I think this is a powerful strategy

hi everyone, I just wanted to see if you liked the recent YouTube video I posted. I can make more in the coming days. Are beginners here starting to see the power of what we are talking about? Is it too advanced too basic or mixed? Please let me know here.

one must escape from the confines of his mind, from the thoughts and possibilities that this is too difficult. The simplicity is the structure of the market, how it forms, how it moves. If you begin to understand price and wave flow, you are on your way to reaching your potential.

fully automated