EurUsd cont

Off we go! the secret as to why i took this trade can be seen in the 5 min chart( prev post). This is in effect a retouch of the reaction line that passes from top left to bottom right. I have no doubt price will go lower but i am risking 10 to make 30-40pts. Remember its Friday afternoon and ask yourself what happens on Fridays? I am looking to see the right hand shoulder built on this formation...it could be a continuation pattern and rally above 1.4250 but i guess price will fail to reach the new centre line ( not shown).Stp to b/e @ 17.13 local time

EURUSD + EUR -$ @1.4215/ 10PT STP

For those that have never seen multiple PF's and reaction line charts.........Dr Mircea Dologa writes in his advanced book (Vol2)
" We would argue passionately that multiple Pitch Fork patterns greatly enhance the potential trading result"........ and also says "The chart might seem unbearably messy but this method is indispensable for understanding the market flow".

FTSE ( sept11) + EURUSD

Failure to pass up through these two almost horizontal reaction lines in brick red. This is the Phscological 5000.00 level and we may break below this week if price continues to struggle.

EurUsd trade:Profit objective reached

Postion increased + 2 Eur -US$

It's a big Dubbya formation

Long Eur-Usd @1.4175 ( stop1.4160 ) Obj 1.4225-35

FTSE ( sept11)

Copper (comex HG) & US T Bonds

EurUsd

EURUSD

see link to long term reaction/median line
both the the magenta pink and green lines are the same but on different reaction grid templates

Russell emini 2000 and EPU

If you look at the two MT4 charts of emini Sept S&P you will see the two charts. 30 mins and 5 mins. Look at the position of the green ML in the 30 min then look where it is in the 5min.....both positions have reactions.I have seen and noticed this bizzare price behavior in all charting platforms. Line(s) & object(s) appear to have more than one position and more than one reaction. The dotted yellow line is the trigger line form yesterday chart/fork LINK
If price does not hold here (a smidgin over the .618 Fib RT from yesterdays low 1230.25 to 1264 move) then i suggest we will go lower but i am not convinced it will be today.
PS: Anyone interested in an Esignal ( 10.6 & 11 version) Custom Pitchfork tool pls contact me for details. It is a custom EFS line script and can draw however many RL/WL's required at whatever intervals.

Emini S&P

EurUsd cont...cont

The second screen shot shows /dispels the rule that P0 should be behind P1. Look at the RL that works perfectly and this type of fork often describes perfectly the limit of a move and even more a CL failure of this fork works well to predict coming weakness. Obviously not in this case as on the back of weak US data we see the white ML ( see previous posts) has supported price and there was little appetite for price to go lower.

EurUsd cont................words of wisdom for today or my 5 centsworth::::Do not trade until you have your own system with your own rules.

Friday comes round again and I expect we will see continued Euro weakness with the next level on my list 1.4185 where lies the green CL ( not shown here but on this link)







Below we see the failure to reach the balck CL in the 4hr chart but the support offered by the blue ML ( see yesterdays post)...which way will it go..back up for a second attempt at the blue CL or down.? I do not care but once directional movement is confirmed i want a piece of it.,















UPDATE 1300 pre US opening:
Euro time Euro falls sharply. now a retouch on the white ML andthen down to the green as per my post this morning (above). Look at the short stochastic ribbons bounce downwards off the
B- line stoch in the 240 min chart (below right).