Just wanted to wish the US traders a happy July 4th holiday weekend.
May not post until next week.
Take care,
May not post until next week.
Take care,
Goldmine!
- Thread starter FX4Newbies
- Start date
Hello Traders,
Just couldn't pass on this post. For some time now I have told people that I do not look to trade chart patterns...triangles, flags etc., though they can give insight into that fact the market might be in a continuation consolidation pattern.
The chart attached is very interesting as it shows a false breakout (very characteristic of trading these patterns), but notice that price found support on a Pitchfork Warning Line. Other Pitchfork usages would also have confirmed a Price Failure so fork traders would have been looking for a reversal.
Chart again demonstrates the versatility of this tool. Andrews' (and Babson too and all the forerunners): you were a genius!
Take care and enjoy your weekend.
Just couldn't pass on this post. For some time now I have told people that I do not look to trade chart patterns...triangles, flags etc., though they can give insight into that fact the market might be in a continuation consolidation pattern.
The chart attached is very interesting as it shows a false breakout (very characteristic of trading these patterns), but notice that price found support on a Pitchfork Warning Line. Other Pitchfork usages would also have confirmed a Price Failure so fork traders would have been looking for a reversal.
Chart again demonstrates the versatility of this tool. Andrews' (and Babson too and all the forerunners): you were a genius!
Take care and enjoy your weekend.
Hello Traders,
Just a quick post...not sure if I will trade the London Session. Might take a peek.
Chart shows the most recent fork with a sideways bias, with price sitting at support. Be very watchful.
Take care,
FX4Newbies
Just a quick post...not sure if I will trade the London Session. Might take a peek.
Chart shows the most recent fork with a sideways bias, with price sitting at support. Be very watchful.
Take care,
FX4Newbies
Just posting a progress report:
Price was sideways during the night and early morning. Dropped some, finding support at a percentile line of the fork (which can be a Fib percentile). No clear direction. Maybe the market is taking the day off .
Please note that the gray Pitchfork could be drawn in as early as the high at 1.2611. It would have therefore shown a sideways bias at least 5 hours before the major congestion began.
Take care,
Price was sideways during the night and early morning. Dropped some, finding support at a percentile line of the fork (which can be a Fib percentile). No clear direction. Maybe the market is taking the day off .
Please note that the gray Pitchfork could be drawn in as early as the high at 1.2611. It would have therefore shown a sideways bias at least 5 hours before the major congestion began.
Take care,
Hello Traders,
The market is finally beginning to show some swings. Will prepare to look for trades in the London Session.
Take care,
FX4Newbies
The market is finally beginning to show some swings. Will prepare to look for trades in the London Session.
Take care,
FX4Newbies
Hello again,
Missed a nice long entry around 1.2486. If price can break above 1.2562 we might get to the target.
I wish you all good trading.
Missed a nice long entry around 1.2486. If price can break above 1.2562 we might get to the target.
I wish you all good trading.
Got in with a long...a bit late at 1.2575. Hope it pushes to ML...took a few pips and got out...price battling a bit. If it fails to make ML, we know what to do right? Start hunting for a short.
Good trading to you this week.
Good trading to you this week.
Market is talking...sell off was not too great. Thinking there may be a push further north. Also, remember shorting here is a counter-trend move as price has not confirmed that the uptrend is over.
If price finds support around 1.2563, that may be the launch area for a move up.
Let the market continue to talk.
If price finds support around 1.2563, that may be the launch area for a move up.
Let the market continue to talk.
Just went long at 1.2591...almost missed it, had to look for a secondary entry.
Trader asked if I would let them know the outcome of my EurUsd trade. Here was my reply:
Of course. That is what it is all about...the good, bad and the ugly
. Not thrilled at the moment, was encountering lots of resistance overhead. Wanted to exit at 5.00 profit, but thought I would hold...give the market a chance. However, news is coming in 15 minutes. Not liking this..I see a bearish sentiment on the 4Hr and bullish sentiment on the 1-Hr.
Of course. That is what it is all about...the good, bad and the ugly
. Not thrilled at the moment, was encountering lots of resistance overhead. Wanted to exit at 5.00 profit, but thought I would hold...give the market a chance. However, news is coming in 15 minutes. Not liking this..I see a bearish sentiment on the 4Hr and bullish sentiment on the 1-Hr.