I am looking for opportunities to short to 1.1194 and long to 1.1161. Right now Pitchforks (Modified Schiff) across everytime frame except monthly is shouting "up to the North me Lord" (Too much GOTS). I'll still go short below 1.1224 though!!!
PDF in zip file. Thank you.
I've finished trading for the week. Up for the week but down for today.
Weekly Pivot 1.1213 (red line). Remember these levels and scenarios were give on Sunday.
All the auto-Pitchforks and manually drawn Pitchforks align with the weekly Pivot and it is 5 minutes before major News.
I have nothing else to write about this at the moment...this falls under esoteric and advanced Pitchfork theory which we will touch upon in the future.
The "let me come inside" game has been going on for days on the H4. If price is allowed to come inside, expect an explosion.
The price finish above the monthly Pivot (1.1201) and the weekly Pivot (1.1213) which give me an upward bias going into this week's trading.
The weekly numbers are a forecast low of 1.1172, forecast high of 1.1273 and a new weekly pivot of 1.1222.
I think the technical info' in the chart speak for themselves. However, the market does what she does. She leads we follow; being correct about trade direction is less important than riding ACTUAL price direction.
Green pips all.
And it is always nice to see the 200 period moving average confirming all of the listed points. The 200 period SMA is now acting as support:
NO GUARANTEES!! WE INTERPRET WHAT WE ARE SHOWN BASED ON TRIED AND TESTED TECHNICAL TOOLS.
Regarding the GBPJPY trade last week, I wrote "this is text book stuff" meaning the setup was perfectly aligned with theory and practice.
The EURUSD long trade is also "textbook stuff"!