Goldmine! - page 41
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View of EU....few minutes ago
Hello all,
Below are two charts showing a current view of EU. Observe how price is reacting to the lines. That will teach you alot.
Two chart views are given. The second one is a close up: a front-row seat.
Take care,
FX4Newbies
Your Front-Row Seat Is Available
Hello again,
I have gotten some responses from traders who have seen the Pitchfork in action and would like to learn more and maybe clarify some things as well. I have therefore set up a free Live Market Analysis Session to be held a week from today (and Wednesday, depending on the level of interest for that day and time). If you would like to be part of it, please sign up and be sure to indicate the time you can attend. The form is also available on the blog.
All analysis will start from a naked hourly chart (the viewers' choice, as long as it is available on my platform), so you can see the foundational process I use. The first chart I may select as I will be using it to cover particular points. You will also have the opportunity to ask questions. Be sure to have pen and paper handy to jot down some gold nuggets to help you mine your gold.
All traders are welcome...all levels. My goal here is to help traders get the basics right. Everything else can be built from there. Invite a friend.
Take care,
FX4Newbies
In Decision Land
Good Morning Traders,
Price is in decision land...in the middle of the lower half of the smaller green fork. Has been attempting a move upward but came upon resistance. Wait for a definite tell to signify the next probable move.
Take care,
FX4Newbies
Hello Traders,
Busy morning. Just getting to post.
Below are two close ups of the Euro Usd this morning. Price found support at the intersection of two Warning Lines. On the second chart, there is an additional green fork with a downward slope. The alternating three pivots selected would normally produce an upward fork, is showing a downward tendency. Might be a tell. No guarantees.
Be careful and trade what the market shows you.
FX4Newbies
What the EU did today
Price stayed within that downward green fork. Some might even call it a diamond pattern. Will have to see how it breaks out of this area.
FX4Newbies
Where It's Been..Where It Is
The chart says it all .
Will be busy preparing for the free Live Session on Monday. Will try to check in as time permits. Still room for those who would like to attend.
FX4Newbies
P.S. Price finally broke below green L-MLH.
A Trading Lesson For You
This post is a little bit of a trading lesson. The pink line represents the line of force that created the move upward. Notice price is in the middle of the move. If you choose to trade there without an incredible edge and confirmation to do so, you have just made yourself a target to someone who can move the market against you. A good place to emotionally and psychologically wear you out. Why? You have given them room to play.
So what should you do? Wait for price to go to a safer area like Support or Resistance. If you decide to trade, be sure you are a sharper trader than they are or a Ninja Scalper.
All the best,
FX4Newbies
P.S. You maysign up here for our free Live Market Session on Monday or Wednesday next week.
Trading Lesson Continued: The Outcome
Price consolidated, shown by gold box, and fell at resistance provided by U-MLH of red fork. Trading in the price area represented by the gold box could have been a stressful roll around for two or three hours while price worked its way to the potential resistance area. Safer places to enter with a sell than the gold box: at the red U-MLH not in the middle.
FX4Newbies
P.S. Reminder: Free Live Market Analysis Session next week Monday and Wednesday.Sign up here.
Weekly Chart Wrap-Ups Posted
Weekly chart wrap-ups are now posted onthe blog. If you are thinking of attending the free Live Market Analysis Session, registration for the Monday sessions will be closed at noon EST on Monday.
Take care,
FX4Newbies
Where Are We Now?
Hope you all had a good weekend. Price fell through teal fork and is testing the L-MLH: another line in the sand. Look for confirmation of the next move: don't assume.
Take care,
FX4Newbies
P.P.S. Did not realize there was a data error on earlier chart. Here is a new post...second chart