why not just delete all but the red and green forks? sinse these are the biggest forks, and the ones that have been already tested. You have 4 different forks here, and I think, just my 2 cents, that if your teaching others about forks, you would be confusing them, and making their eyes cross by having so much on that chart.
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Goldmine!
- Thread starter FX4Newbies
- Start date
why not just delete all but the red and green forks? sinse these are the biggest forks, and the ones that have been already tested. You have 4 different forks here, and I think, just my 2 cents, that if your teaching others about forks, you would be confusing them, and making their eyes cross by having so much on that chart.
Thanks Konviction,
I have deleted some of the forks already, and that will show in my next post. I left them in on purpose so traders can see how price responded to these lines as it moved up to the green dot.
Appreciate your comment and feedback. Thank you.
I have deleted some of the forks already, and that will show in my next post. I left them in on purpose so traders can see how price responded to these lines as it moved up to the green dot.
Appreciate your comment and feedback. Thank you.
Hello again,
What will the market do from here? Been showing a little sign of weakness, but still technically in an uptrend (see MPL). If price breaks to upside, a new fork will be drawn.
Let's see what happens.
What will the market do from here? Been showing a little sign of weakness, but still technically in an uptrend (see MPL). If price breaks to upside, a new fork will be drawn.
Let's see what happens.
Quote from FX4Newbies:
Hello again,
This morning I let the news play out then jumped in with a buy for a quick scalping trade...a few pips. Anyway, pay special attention to how the price reacted at the L-MLH of the green fork, where I had the ???.
Once price formed that new low, I introduced a new blue fork. Price went straight to that ML, which was my exit because I expected a pull back there. I expect to be erasing some of these lines for the Asian session...decided to keep them here so those downloading these charts can follow the process.
Take care,
Attachments
Hello Traders,
Very choppy market...will watch to see how it plays out.
Very choppy market...will watch to see how it plays out.
Hello Traders,
Before I completely sign off, I thought I would post how the market left us hanging...
When it reopens, we need to let it make a clear statement as to where it will head next. Don't be too anxious to click.
Enjoy the week-end.
Before I completely sign off, I thought I would post how the market left us hanging...
When it reopens, we need to let it make a clear statement as to where it will head next. Don't be too anxious to click.
Enjoy the week-end.
Attachments
Hello Newer Fork Traders,
Just wanted to make a comment here as you attempt to draw a fork on your chart. You must pay attention to the sequence of your pivots as time progresses...they should be alternating high-low-high or low-high-low. It is the force of energy created by a swing (from low to high or high to low) that creates the next swing. The alternating pivots can be close together or further apart, capturing more major swings. The selection depends on what view of the market the trader is after. You're in the driver's seat.
According to Andrews and Morge and perhaps some of the other early pioneers, there is a mathematical relationship between pivots as I describe above that produces the built-in statistical reliability Pitchforks are known for. Also, there is the concept from physics: Newton's third law...to every action, there is an equal and opposite reaction. Applying a Pitchfork to a simple sine wave will demonstrate the concept.
Price movement, which for the most part is emotionally driven, makes trading as dynamic as it is. This is why we need to be thinking traders...on our feet so to speak.
If you would like me to look at a fork that you may have tried feel free to post...I'm sure others would benefit from seeing it as well. We're all here to learn and improve in our trading.
Enjoy your weekend,
Just wanted to make a comment here as you attempt to draw a fork on your chart. You must pay attention to the sequence of your pivots as time progresses...they should be alternating high-low-high or low-high-low. It is the force of energy created by a swing (from low to high or high to low) that creates the next swing. The alternating pivots can be close together or further apart, capturing more major swings. The selection depends on what view of the market the trader is after. You're in the driver's seat.
According to Andrews and Morge and perhaps some of the other early pioneers, there is a mathematical relationship between pivots as I describe above that produces the built-in statistical reliability Pitchforks are known for. Also, there is the concept from physics: Newton's third law...to every action, there is an equal and opposite reaction. Applying a Pitchfork to a simple sine wave will demonstrate the concept.
Price movement, which for the most part is emotionally driven, makes trading as dynamic as it is. This is why we need to be thinking traders...on our feet so to speak.
If you would like me to look at a fork that you may have tried feel free to post...I'm sure others would benefit from seeing it as well. We're all here to learn and improve in our trading.
Enjoy your weekend,
Hello Traders,
Hope you all had a wonderful and restful weekend.
Attached is a chart showing how the market behaved as it opened. I have included notes on the charts referring to the fork lines there.
I will be preparing for the London session which is when I normally start looking for trades...now I just see how the market is heating up.
Take your time, do your research and follow your rules.
All the best!
P.S. There seems to be some bullish sentiment in the 4-Hr chart from Friday. Let's see if it continues through the resistance area to green ML.
Hope you all had a wonderful and restful weekend.
Attached is a chart showing how the market behaved as it opened. I have included notes on the charts referring to the fork lines there.
I will be preparing for the London session which is when I normally start looking for trades...now I just see how the market is heating up.
Take your time, do your research and follow your rules.
All the best!
P.S. There seems to be some bullish sentiment in the 4-Hr chart from Friday. Let's see if it continues through the resistance area to green ML.
Attachments
Just decided to draw in the blue fork to see where price would fall...it has reached the ML of the blue fork, the likely target. This would have been a place to take profits for those who were long.
Will wait to see what comes next in the London Session.
Take care,
Will wait to see what comes next in the London Session.
Take care,