Goldmine!

This is a discussion on Goldmine! within the Trading Journals forums, part of the Reception category; Hello Traders, Attached is a chart with my thoughts for now. We'll see how the market goes forward. Be careful ...

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Old Jun 16, 2010, 1:22am   #81
 
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My Thoughts For The Asian Session

FX4Newbies started this thread Hello Traders,

Attached is a chart with my thoughts for now. We'll see how the market goes forward.

Be careful and watchful.
Attached Thumbnails
asiansession2.jpg  
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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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Old Jun 16, 2010, 1:26am   #82
 
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Asian Session...Another View

FX4Newbies started this thread Chart attached.
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asiansession2anotherview.jpg  
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Old Jun 16, 2010, 3:34am   #83
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Re: Goldmine!

Very interesting reading and watching. I''ve never used pitchforks but I'm always open to something new.

Well done.

Peter
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Old Jun 16, 2010, 3:43am   #84
 
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Re: Pitchforks

FX4Newbies started this thread Hi Wackypete2,

Glad you found the Pitchfork interesting. The beauty of it is that it has a scientific basis...Newton's Third Law. Also, there is a built-in mathematical relationship between the pivots that make up the fork. Keep watching. Maybe it is something that can compliment what you already have. It is a simple tool to use, you just have to understand some other concepts around it.

Have a good trading session whenever next you trade.

Take care and thanks for the comment.

FX4Newbies

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Originally Posted by wackypete2 View Post
Very interesting reading and watching. I''ve never used pitchforks but I'm always open to something new.

Well done.

Peter
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Old Jun 16, 2010, 5:45am   #85
 
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Re: My Thoughts For The Asian Session

I know this is your thread, and if in the future you don't want me to share my thoughts here, let me know, and I will be more than happy to oblige your wishes.
I find it fascinating that 2 distinct methodologies bear about the same result. My MP is 1.2307, and it just hit it perfectly. I believe, that as you suggested, it is on its way UP from here. I am still looking at the weekly tenken at 1.2698 as a viable target. 1.2402--1.2421 looks like nice targets for today.

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Hello Traders,

Attached is a chart with my thoughts for now. We'll see how the market goes forward.

Be careful and watchful.
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Old Jun 16, 2010, 10:13am   #86
 
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Point Of Decision

FX4Newbies started this thread Hello Traders,

Just a continuation of the earlier chart...what price does in and around the green L-MLH will be pivotal.

Take care,
Attached Thumbnails
pointofdecision.jpg  
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Old Jun 16, 2010, 10:32am   #87
 
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Re: My Thoughts For The Asian Session

FX4Newbies started this thread Hello 4xpipcounter,

In trading it is always good to see how systems compare and to have confirmation in a variety of ways about price action. What I use here, along with my method of entry works. What you use, the Ichimoku and your other systems work...and there are many others I am sure. I too am interested in seeing the comparison myself. Next week Lord's willing, I'll jump in .

Thanks for sharing. Will send PM.

Quote:
Originally Posted by 4xpipcounter View Post
I know this is your thread, and if in the future you don't want me to share my thoughts here, let me know, and I will be more than happy to oblige your wishes.
I find it fascinating that 2 distinct methodologies bear about the same result. My MP is 1.2307, and it just hit it perfectly. I believe, that as you suggested, it is on its way UP from here. I am still looking at the weekly tenken at 1.2698 as a viable target. 1.2402--1.2421 looks like nice targets for today.
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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 16, 2010 at 11:03am.
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Old Jun 16, 2010, 11:50am   #88
 
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Re:Asian Session Fine Tuned

FX4Newbies started this thread Hello Traders,

Decided to add another fork, a black one as price appears to be having a challenge deciding. The new fork shows a sideways move with a slightly upward bias...in that case I will be waiting for confirmation of direction.

Be very careful.

Quote:
Originally Posted by FX4Newbies View Post
Hello Traders,

Just a continuation of the earlier chart...what price does in and around the green L-MLH will be pivotal.

Take care,
Attached Thumbnails
asiansession2finetuning.jpg  
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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 16, 2010 at 12:16pm.
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Old Jun 16, 2010, 1:22pm   #89
 
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Re: US Open and The Triangle

FX4Newbies started this thread Good Morning Traders,

Price has been battling for the last four hours or so. If it does not go south but bounces around, there could be a battle in the region of the triangle. For those of you who trade continuation chart patterns like symmetrical triangles, pennants etc., maybe now you have an inside look as to why they form. When you begin to understand "the why", trading becomes much easier and not so mysterious!

Enjoy.
Attached Thumbnails
usopen-thetriangle.jpg  
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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 16, 2010 at 1:43pm. Reason: spelling
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Old Jun 16, 2010, 6:23pm   #90
 
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Traded After News...Grabbed A Few Pips

FX4Newbies started this thread Hello again,

This morning I let the news play out then jumped in with a buy for a quick scalping trade...a few pips. Anyway, pay special attention to how the price reacted at the L-MLH of the green fork, where I had the ???.

Once price formed that new low, I introduced a new blue fork. Price went straight to that ML, which was my exit because I expected a pull back there. I expect to be erasing some of these lines for the Asian session...decided to keep them here so those downloading these charts can follow the process.

Take care,
Attached Thumbnails
tradedafternews.jpg  
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