Goldmine!

[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

 

[FX4Newbies]

Price has been making lower highs...and lower lows. Lower lows more pronounced on M15. Trade what you see. News to come.

FX4Newbies

 

[FX4Newbies]

The Candle That Started It.

Hello Traders,

Here is my view of the EU at the moment. Red arrow shows the candle that started the fallout. Notice where it happened to be...hmm.

Drew in green "What-if" fork as price has not yet confirmed convincingly an upward burst. Let's see what price will do today, if anything.

Take care,

FX4Newbies

P.S. Tomorrow is Thanksgiving Day in the U.S. Big holiday.

 

[FX4Newbies]

Has Anyone Noticed...?

Has anyone noticed the big runs in price that seem to occur just before or after a major holiday in the U.S.? Just look at this week and the last holiday a few weeks ago? Were they by chance or scheduled (planned and timed)? Mmm...

Everything in trading is tied to life in the real world. Trading is just a mirror of it. Currencies are that mirror for those who trade FX. We need to see price action in that context. Then things can begin to make a little more trading sense. If you ignore context (current price action in relation to previous price behaviour) even in your technical analysis, you will find yourself being stopped out quite a bit. Train yourself to pay attention to the whole picture.

Take care,

FX4Newbies

P.S. Happy Thanksgiving (Turkey Day) to U.S. traders.

 

[FX4Newbies]

Re: The Candle That Started It.

Hello Traders,

Here is my view of the EU at the moment. Red arrow shows the candle that started the fallout. Notice where it happened to be...hmm.

Drew in green "What-if" fork as price has not yet confirmed convincingly an upward burst. Let's see what price will do today, if anything.

Take care,

FX4Newbies

P.S. Tomorrow is Thanksgiving Day in the U.S. Big holiday.

Well traders,

Just posting a follow-up chart. Price did not do much of anything...stayed within the green "What-If" fork (except for a quick pop once). Lots of wash and rinses around the ML.

Be very careful those of you who feel as though you "must click".

FX4Newbies

 

[FX4Newbies]

Trading Against A Computer?

Price is still trading in what I want to now call the "Holiday Fork". Wonder if someone left their trading system on autopilot and went to enjoy the holiday weekend. No problem with it...just know that if that is the case, might not be an easy way to gain some pips. Nice touches on the fork though.

FX4Newbies

 

[FX4Newbies]

Holiday Trading Over?

Well...,

We got a break to the downside. Candles even seem to have some more "meat" to them. Hit L-MLH and WL intersection. Will have to get confirmation of next direction.

FX4Newbies

 

[FX4Newbies]

Weekly Chart Wrap-Ups On The Blog

Enjoy!

Take care,

FX4Newbies

 

[FX4Newbies]

Cascading Lower?

Price has been making lower highs and lower lows. Just be prepared to do whatever price confirms that it is doing.

FX4Newbies

P.S. Sorry I missed the post yesterday. Same chart, but price was at the intersection of the two MLs around 1.3165.

 

[FX4Newbies]

Good To Be Prepared

Price has been making lower highs and lower lows. Just be prepared to do whatever price confirms that it is doing.

FX4Newbies

P.S. Sorry I missed the post yesterday. Same chart, but price was at the intersection of the two MLs around 1.3165.

Hello again traders,

Price moved down very little yesterday after chart was posted, then began to turn upward. Might continue to push. News to come though...just trade what you see as you see it. Always allow price to speak first...

Take care,

FX4Newbies

 

[FX4Newbies]

Price Trying To Climb

Hello Traders,

Price has been trying to climb. A promise of resistance above. Will see if it can push to at least that high. News to come.

FX4Newbies

 

[FX4Newbies]

Price did make it to the blue resistance line on Non-Farm Payroll news. Will have to see what changes, if any, the market will implement now.

FX4Newbies

 

[FX4Newbies]

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

 

[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

 

[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

 

[FX4Newbies]

Hello again traders,

Posting a little later than usual.

Below are two close ups of the Eur-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

 

[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

 

[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.

 

[FX4Newbies]

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.

 

[FX4Newbies]

Weekly Chart Wrap-Ups Posted

Weekly chart wrap-ups are now posted on the 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