Goldmine!

FX4Newbies · Jun 4, 2010, 9:47am

Hi again,

Chart with Aud-Usd attached. Got into this trade a little earlier so I decided to let it play out. Chart is included here since that was my trade. Will resume my usual Eur-Usd posts of my analysis.

Take care,

Quote:

Originally Posted by FX4Newbies

Hello traders,

Chart attached shows that our target was hit on the EudUsd. Take a look.

Closed with 116 pips on a similar move with AudUsd. See next chart.

FX4Newbies · Jun 4, 2010, 5:12pm

Please note that the 80% probability of price hitting the ML applies when the pivots selected are the immediately alternating pivots prior to the current price action. I choose to mention this here, just in case someone draws a fork with pivots miles away and does not understand how to handle price failures (the other 20% of the time that price may fail to reach the ML).

FX4Newbies · Jun 5, 2010, 3:00pm

Hello traders,

Just trying to get an idea on paper. Will watch to see what happens, especially after the G20 weekend. In no rush. Would like to make an informed decision

Left a few landmarks (labeled in light gray) so we can keep track...

Take care,

FX4Newbies · Jun 6, 2010, 8:10pm

Hello again traders,

Hope you had a wonderful weekend.

Well, the market is open. Price dropped to test the lower parallel line of the red fork. Is now in a primarily sideways mode for those who scalp.

We'll see how the Asian session performs in preparation for the London session.

Take care and follow your rules...me too!

FX4Newbies · Jun 6, 2010, 9:17pm

Price did not make ML on green fork. Also broke lower MLH. Finding support at WL2. In the target zone.

Next... London session

FX4Newbies · Jun 7, 2010, 1:47am

Just watching the market...

FX4Newbies · Jun 7, 2010, 6:06am

...or maybe I was late

? Price fell close to the area I marked...close enough for me

Where to next? P5 or Resistance?

Take care,

FX4Newbies · Jun 7, 2010, 8:42am

Seems like this area could show us something that will birth the next move. We wait for confirmation.

Jun 4, 2010, 5:12pm	#34
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Re: The Pitchfork's 80% Probability Please note that the 80% probability of price hitting the ML applies when the pivots selected are the immediately alternating pivots prior to the current price action. I choose to mention this here, just in case someone draws a fork with pivots miles away and does not understand how to handle price failures (the other 20% of the time that price may fail to reach the ML). __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 5, 2010, 3:00pm	#35
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Re: Pre-market Thoughts Hello traders, Just trying to get an idea on paper. Will watch to see what happens, especially after the G20 weekend. In no rush. Would like to make an informed decision Left a few landmarks (labeled in light gray) so we can keep track... Take care, Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 6, 2010, 8:10pm	#36
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Market Open Hello again traders, Hope you had a wonderful weekend. Well, the market is open. Price dropped to test the lower parallel line of the red fork. Is now in a primarily sideways mode for those who scalp. We'll see how the Asian session performs in preparation for the London session. Take care and follow your rules...me too! Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 6, 2010, 9:17pm	#37
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price Target In Sight Price did not make ML on green fork. Also broke lower MLH. Finding support at WL2. In the target zone. Next... London session Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 7, 2010, 1:47am	#38
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Re: Goldmine! Just watching the market... __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

Jun 7, 2010, 6:06am	#39
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Price arrived early... ...or maybe I was late ? Price fell close to the area I marked...close enough for me Where to next? P5 or Resistance? Take care, Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up. Last edited by FX4Newbies; Jun 7, 2010 at 6:32am. Reason: Image updated

Jun 7, 2010, 8:42am	#40
FX4Newbies Veteran Member Member Since Apr 2010 660 Posts	Where Rubber Meets The Road? Seems like this area could show us something that will birth the next move. We wait for confirmation. Attached Thumbnails __________________ My Pitchfork Goldmine Blog.: The market has a cheque for me. I'm just waiting for it to tell me when it will be ready, and where I need to go to pick it up.

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