Trading the Andrews Pitchfork with Max - page 8

[Max Brown]

Max Brown #:

GBPJPY TRADING SCENARIO FOR WEEK BEGINNING THE 8TH JANUARY 2023.

A. If the price breaks above 160.18 then extends to 160.68 before retracing back to 160.00.  

• enter long at 160.20
• SL @ 158.40
• PT1 @  162.50
• PT2 @  163.53
• PT3 @  166.25
• PT4 @  169.17

B. If the price doesn't break above 160.18 wait for the retrace to 158.95.  If a rejection wick forms at that location: 

• place a buy stop 10 pips above the H1 high.
• SL @ 158.40
• PT1 @  162.50
• PT2 @  163.53
• PT3 @  166.25
• PT4 @  169.17

C. If the price forms no rejection wick at 158.95 then proceeds to zoom through 158.74 to 158.33 followed by a D1 close below 158.74: 

• place a sell limit at 158.85
• SL @ 160
• PT @  155.40

GBPJPY

[Max Brown]

US30  FOR WB 16122023

NASDAQ/USTECH FOR WB 16122023

 

US500 FOR WB 16122023

or

AUDCAD - for WB 16012023

AUDCHF  - for WB 16012023

AUDJPY  - for WB 16012023

AUDNZD  - for WB 16012023  

GBPJPY - for WB 16012023

XAUUSD   - for WB 16012023

[Max Brown]

AUDJPY - Trade active:

AUDNZD - Trade active:

[Muhammad Syamil Bin Abdullah]

My view on Nasdaq 1 hr chart, it seem like index quote will be reversing after failed to close above the pitchfork upper line.

[Max Brown]

Muhammad Syamil Bin Abdullah #:

My view on Nasdaq 1 hr chart, it seem like index quote will be reversing after failed to close above the pitchfork upper line.

I see several scenarios:

[Max Brown]

Max Brown #:

AUDJPY - Trade active:

AUDNZD - Trade active:

The following two images aren't on display on post https://www.mql5.com/en/forum/312663/page8#comment_44387612 (I'm not sure why!!! )

NASDAQ100

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DOW