Goldmine! - page 43
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Christmas Greetings!
Just would like to wish a Merry Christmas to those of you who may be celebrating today.
Take care,
FX4Newbies
Weekly Chart Wrap-Ups Posted
The weekly chart wrap-ups are now posted on the blog for those who would like another view.
Take care,
FX4Newbies
Price Pushed Off
Good Monday Morning Traders,
Price found support and pushed off...approaching support again at the time of this post. Will see if more buyers are present to go higher...or whatever the market says.
Take care,
FX4Newbies
Trading Journal and Money Management 4 Starters
Hello traders,
I am new to this Forum and would like to share my analysis and trades. Maybe the way I see the market will help some; maybe the way you see it will help me. We'll see how it works. Most of my charts will be on the 1-hour time-frame.
I use the Pitchfork as my primary trading tool. For those of you who may not be familiar with the Pitchfork, here is a brief description:
The Pitchfork is a trading tool (not an indicator) that was developed by Dr. Alan Andrews. It is based on Newton's Third Law...for every action, there is an equal and opposite reaction. It looks very much like a tuning fork. It is constructed using 3 alternating pivots: high-low-high or low-high-low. The center or Median Line (ML) is where the price tends to be drawn to about 80% of the time. The outer lines are where price is generally expected to lose steam.
There are many rules involved in benefiting from this wonderful tool, so please do not begin trading live with it until you understand it well enough, which like everything else takes time. I have attached my most recent chart of the Eur-Usd.
Looking forward to hearing from you,
FX4NewbiesHello again Traders,
When I began this thread in June of this year, it was my intention to share my analysis using the Pitchfork as well as my trades. Well, the analysis side took on a life of its own and I did not post as many trades. For the coming year, I have decided that the best way for those interested in seeing the outcome of the trades, was for me to set up an account with MT Intelligence. The attachment will show the details.
I will also use this account as an example to help traders who may be starting with what is the usual minimum account size of about $250.00 USD. I will trade/manage this account in phases:
Phase 1: Trade 1 mini-lot, which would be about 10% of the equity. Daily Profit Target: 20 pip minimum. Once the account has doubled, we will enter Phase 2. I will begin trading this account after the New Year.
I think it will be an exciting journey...at least for me
.
Take care,
FX4Newbies
NOTE: The trades may not be published immediately after I click, but will be available for viewing some time thereafter.
An Updated View of EU
An updated view of EU.
Take care,
FX4Newbies
EU at Warning Line
Hello again,
Price at WL1 finding resistance. Needs to find support and more buyers to go higher.
Take care,
FX4Newbies
P.S. Hope you enjoyed the holidays. Weekly chart wrap-ups will be posted on the blog late tomorrow.
Weekly chart wrap-ups are now posted on the Blog.
FX4Newbies
Good Morning Traders,
Well, thus far, the EU had been showing sings of weakness. Found support at L-MLH of teal green fork. Will have to see if it can hold. Red arrow shows area to watch. Don't presume, just let the market confirm.
Take care and all the best for the New Year.
FX4Newbies
Where's EU?
EU is now battling with some resistance. FOMC Minutes later today. ML intersection above. Price still in uptrend territory. Let price confirm which way.
FX4Newbies
Price did not make the ML intersection and could not hold above blue HL marking area of resistance. From there it went south. Updated chart attached.
FX4Newbies