Goldmine! - page 39
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A Roller Coaster Ride
Hello again Traders,
A roll around night...lots of short swings. News to come in about an hour. Price in a decision zone...guess the market is waiting to know which way next.
Drew the forks in a way that I think gives a clear "snapshot" of the local market.
Take care,
FX4Newbies
Hello again,
Price actually found support on the U-MLH before going north. Hope you saw that coming from the chart set-up above.
Take care,
FX4Newbies
NOTE: Originally had L-MLH in error. Post above has been corrected.
About Applying Pitchforks
Hello traders,
Just wanted to say something about applying Pitchforks and trading in general. Some of you may be seeing Pitchforks used in this simple way for the first time and you are amazed at what they can tell the trader. There are many different methods of application (all of which will not be shown on this thread as it will become a full-blown teaching session).
In the analysis here, I just use the basics with an occasional Schiff (that might even have been on the blog). What traders might not believe, is that any information you try to study about Technical Analysis and trading needs to be set in the right context...with the right understanding.
Just got a testimony from a trader who was using indicators, knew several other methods: not a newbie by any means. In teaching him how to trade with Pitchforks, I needed to sort through what he called confusion and give him a step-by-step recipe, incorporating the forks with what he was already doing. The forks are his main tool now, and as he puts it, he has been "in the money multiple times". But, it is his understanding of why something needs to be done and when,and what to look for, where, that is making the difference.
So, I want to encourage all of the traders out there who may be trying to grab pieces of information here and there on the net without a proper foundation, be careful. Some of you have been at it for years, and there are traders I have taught that opened their account this year (and some last year) and are making money: from signals and on their own. And these were real newbies....never saw a platform.
Can't stress this enough: please be sure you have a solid foundation. It just takes one trade to do major damage to your account.
Take care,
FX4Newbies
P.S. Did not get any feedback about someone damaging their account. Just felt the need to discuss the importance of a good foundation.
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Climbing The Rungs
Hello again,
My apologies...thought I had posted this morning. It has been a hectic week.
EU seems to be gingerly climbing. Notice the potential of resistance overhead. News out in a couple of hours as well. Trade what you see.
FX4Newbies
Target Hit!!! +27 Pips on TS 19: Nzd-Usd
Target Hit!!! +27 Pips on TS 19: Nzd-Usd. Just closed a trade from a signal that was sent. Signal Chart and Target Chart are available on the blog under the Signals category.
FX4Newbies
Not Another Wash And Rinse Morning...I Hope
Hello Traders,
Price rolled some yesterday then made a push north. Actually landed within the L-MLH of the larger green fork. Notice long tail on green candle before current red candle...hope we are not in for a laundry trading day.
Take care,
FX4Newbies
P.S. Don't let the market hang you out to dry.
+213 Pips...For The Month Thus Far
Just taking inventory...+213 Pips on the signals sent thus far for the month. Chart and signal details on the blog under the Signals category.
Take care,
FX4Newbies
Weekly Chart Wrap-Ups On The Blog
Just letting you know that the weekly wrap-ups are now posted on the blog. If you have not yet taken the poll, please consider doing so...just one question.
Thanks,
FX4Newbies
Selling Off Again?
Good Morning traders,
Chart shows how price behaved since the market opened yesterday. Price moved up to the first green WL and is falling at the time of this post. Will have to take this one as it comes.
Take care,
FX4Newbies
Price has been making lower highs...and lower lows. Lower lows more pronounced on M15. Trade what you see. News to come.
FX4Newbies
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