UnknownUnicorn2349278

UnknownUnicorn2349278

Opened a short here based on S/R and I plan to manage it as far down towards the centerline as possible until Friday at 5pm. In the past I have left a lot of pips on the table by avoiding entries when the price is outside the pitchfork but just like S/R lines and zones, they are imperfect and I need to rely on more than one indicator than just a pitchfork.

UnknownUnicorn2349278

I entered a short on EURUSD after reviewing the overall trend, H4, and H1 charts with RSI. I think there's a lot of room for it to run here as long as I don't get stopped out first.

UnknownUnicorn2349278

I'm watching USDJPY to test a couple S/R levels before returning towards the median line. The D RSI is not where I want it to be yet to open a long so I'll keep watching and maybe update this idea tomorrow.

UnknownUnicorn2349278

Watching for a confirmation on the H4 and H1 for a good entry. After a few losses I started to solidify my system and the confirmations I'm looking for. -Set the pitchfork on the Daily chart and Weekly RSI -Does the trade coincide with the higher time frame trend? (If no then no trade) -Is the trade returning to the median line (If no then no trade) -Will the...

UnknownUnicorn2349278

I entered a short on USDCAD after reviewing the RSI. I have a partial TP at the Median Line that will trigger auto Break Even.

UnknownUnicorn2349278

I added a Fib retracement and a reverse median line to try to plot out if the retrace will keep going to the median line of the larger pitchfork or if it will bounce back up to the top of the pitchfork.

UnknownUnicorn2349278

I see this as a confirmed pitchfork. The H4 and D RSI look promising and on the lower time frames it looks like its rejecting the resistance zone. I have a tight stop loss just in case though.

UnknownUnicorn2349278

The EURUSD pitchfork is setting up nicely. Confirmation: -D RSI looks overbought -Price is coming down from the new moon Shaky -Aligns with long term bearish trend -Tested pitchfork -Daily failed to make a higher high. I opened a short position.

UnknownUnicorn2349278

I marked a large support zone from a weekly line chart and a small resistance zone above the current price. The H4 RSI makes me want to wait for the price to test the resistance zone before a retrace back to the centerline that the D indicates is in the cards.

UnknownUnicorn2349278

Following the pitchfork down. RSI - I started putting the Daily and 4H RSI on every time frame. I think it's much clearer seeing the long term swings on the 1H and 4H time frames.

UnknownUnicorn2349278

Pretty self explanatory here. Waiting for a confirmation on the bottom of the pitchfork before placing a long and waiting for it rising to the centerline.

UnknownUnicorn2349278

This pitchfork is looking cleaner than it did last night. I think it will bounce off of resistance at 1.26733 and move to the bottom of the pitchfork. If the indicators, MACD and RSI line up I will take a long position back to the centerline. I'm going to keep looking at historical levels and might update this later. Watching a few other charts at the same time...

UnknownUnicorn2349278

I may have just drawn the pitchfork incorrectly, but if not I'd say this is a clear example of a broken pitchfork. It failed the retrace to the centerline and on the retrace it blew through the upper bound. I'm not going to trade this. If it re-enters the pitchfork in a day or two I'll reevaluate.

UnknownUnicorn2349278

I'm not as hopeful for NZDUSD. I'm waiting for it to test the lower bound of the pitchfork for confirmation before I go anywhere else with it.

UnknownUnicorn2349278

I've seen bullish and bearish calls for GBPJPY for the next week. I'm just going to watch my pitchfork. There are multiple confirmations on the lower bound but the MACD and RSI are not favorable on the 4H or D charts. I prefer a MACD flip and RSI oversold before entering a long. I will monitor GBPJPY to see if it maintains this pitchfork and if the indicators...

UnknownUnicorn2349278

Put a pitchfork on USDCAD. It started retracing back up at the 0.5 deviation so it's not the strongest pitchfork right now. I would prefer to see at least two more confirmations on the upper bound before taking a short. I placed an alert above the centerline and will be watching USDCAD for the next week.

UnknownUnicorn2349278

Easing back into things after a week and half out with COVID. Following this uptrend. I took out a short with a partial TP at the centerline.

UnknownUnicorn2349278

I was just looking at weekly and daily market structure and levels after doing some studying this weekend.