Market Traders Chewin' The Fat

They look clean Stu :ok_hand:
Is that Andrews pitchfork with extra Tynes added or another indi ?
I haven’t considered it for long timeframes, I just use the standard fork on intra day only.

This is going to be a great pair to short at some point, and probably a few months down the road!

Sorry mate you got me puzzled on that one. What looks clean ?

The charts look uncluttered with just these lines present, that’s what I meant !

I agree Doc, it seems inevitable that world opinion will assume GB weakness for a period after leaving / not leaving, it’s just tricky at the moment with the knee jerk reactions to any news with brexit in the text.

Sorry mate it doesn’t refer to a post so don’t know but I’ll accept it must be clean whichever one you are referring to. You referring to Alex charts ?

EDIT @Dr_Manhattan and @robgsxr I fancy Cable around 1.60 by year end

Yep sorry Stu let me try again, they are Alex’s charts. I don’t know why but when I reply to any posts my system no longer shows the post I am referring to… It was ok for a while!

Sorry Alex, if you pick this up just wondered what fork indi that is ?

That’s a brave prediction Stu on cable! I agree we should see it back up but timing it ? I couldn’t begin to guess. What we do know is the charts will give us a clue when it starts

Ok Got ya, yes they are tidy I’m Not sure how @AlexC trades them, entry at outer edges or wait to see if it bounce first then look for entry ? Perhaps he will tell us ?
Just a guestimate mate for cable. I try and look at a monthly like an hourly and then wait for ages to see if I got lucky !
They have to keep buyers and sellers interested, if this (meaning monthly cable) was an hourly chart I wouldn’t be shorting, that’s not to say it can’t drop more but I would need to be enticed at a much higher level before starting to attack the bait.

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I’m posting pitchforks or Andrew’s median lines on the MT4 platform.
The free indicator can be found here: http://www.forexfactory.com/showthre…94#post3039794
This is the single most important statement made in Dr. Andrews’ original course:
“Median lines and Median Line Parallels: the Median Lines enable the user to be one of the few who can tell where the prices are headed, and the place they will reach about 80% of the time, and when approximately that place will be reached.”

Pitchforks can be used on any time frame. Even 144 tick charts.
TD Ameritrade platform.

Thanks for explanation Alex, I just found in my MT4 files this very indicator which I must have had for some years but never loaded which is why I only use the standard Andrews pitchfork. As you illustrate the extra lines do fine tune the indicator and I will reload the AML version.

I haven’t read the background on Dr Andrew I just simply realised I liked the standard pitchfork on my 15 minute charts.

I will do some further reading before changing the way I rely on the earlier version, so thanks again :+1:

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I have never used a 144 tick but clearly it appears there is merit in having it running on a chart to correlate reversals with other sup / res areas. I will monitor in more detail :+1:

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Scrjhlk

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Top pic, me at the start of August. Bottom pic, me at the end of October.

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Screjpoj5

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Screenshot_1

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The dividend has been announced, 1.66-cents

Here is today’s missed short on the Euro/US$ pair

Today, 12:45GMT, was rate announcement day for the ECB, followed at 13:30GMT by a statement of what has been considered and what the longer term concerns might be, followed by a question and answer session with the press.

In the question and answer session a classic from Draghi: “…and today we asked ourselves where are we, and why are we here?” :rofl:

So trading EU is dangerous when certain people are speaking, especially Draghi who usually beats Trump for unexpected surprises. When it is all over, 14:30GMT, the market has a think about what has happened and then decides where it is going next.

So this shorting opportunity. For some reason the market found the words about reduced economic output and subdued activity, and probably hitting the inflation target a way up the road … to be encouraging enough to lift the price by around 0.5%.

After a stutter at 1.1380 the price headed down again. The brush with the level at 1.1380 is obvious from the chart below, although one could argue that some bravery was needed due to the fact that Draghi had only just switched off his mic.

I missed it … I missed it because I was looking at a 5-minute chart, and I was nursing a position on UsdJpy which has been running since yesterday … nearly salvaged too :sweat_smile:

EU-short-entry-miss-20190124

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I am with you Ex on missed opportunities.
My chart shows touches to virtually the pip of lines that just sit on my charts waiting to be touched and trade off them. Like Stu, I now have these on numerous pairs and the bounce showing on the eu chart attached is now so common on all of the pairs.
After the event it always looks so f*cking obvious and yet I am still failing to trade them to their full potential.
If I just sharpened up my trigger finger I could cream enough off the market to set up my own bank :star_struck:

e-u

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I Left half of the long running, thinking it might have legs and closed out the short premature. :joy: Also had a fat finger at 1.1312 which I flattened sharpish :roll_eyes:
Can’t complain too much though !

EURUSD_2019-01-24_19-19-34

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