Timing is key
Short

GU(W) Apposing forks, same conclusion!

FX:GBPUSD   British Pound/U.S. Dollar
707 22 13
Hello all,

This chart shows a longer term view of where the GU is headed. The "Zoom" weekly bar tells me there is more downside to this move as it not only takes out the downward green median line but also confirms a price failure of the upward blue fork lower parallel. In light of this information and the high probability of reaching the minimum target of 1.48124. I will be looking for shorting opportunities on the lower time frames and will attempt to post them as they present.

Please note: If the market where to jump above the downward green median line I will go flat until I can determine direction.

Sincerely,

TIK
Zeheart
2 years ago
snapshot


Hi, looking at the 1H TF... I am looking into a retracement of upmove prior continuing the overall down move... which my idea is in sync with ur post here.. which my upmove is a retest of ML of your chart... =)
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isomorph Zeheart
2 years ago
it's absolutely amazing you can see anything on your chart. it's so busy with lines everywhere.
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isomorph
2 years ago
hi TIK, i've been experimenting with the PF and started to notice a few patterns. it seems pretty amazing to me atm how it helps extract from all the visual noise trend direction. fascinating. but you need to know what you're doing, which i don't yet. i'll keep practicing. curious to see where it leads me. here's a GJ H1 chart:


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isomorph isomorph
2 years ago
where did my chart go? trying again.... ah damn it! i didn't press the 'insert' button before. more coffee for me. ;)

snapshot
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Timing is key isomorph
2 years ago
Nice chart, however I try not to use the 50% divisions to avoid confusion as I find the BIG turns or continuation points are Median Lines and Parallels & the warning lines. well done. I spotted a "Very" Important line from your chart can you see the TRIPLE BOTTOM! This is very significant especially at the Topping formation as when this line breaks and confirms down it is likely to "Repeat to the downside" the distance from the horizontal ( Triple Bottom) to the peak. I have attached a chart that also shows how forks can be used to confirm your more traditional TA patterns like H&S's.
Sincerely,
TIK
snapshot
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Timing is key Timing is key
2 years ago
I forgot to add regarding GJ, we are currently at 38.2% fib retracement from the Peak/Head to the neckline & a 61.8 Fib retracement from the right shoulder to the neckline:)
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isomorph Timing is key
2 years ago
1 last thing... i tried to trade this down move just using the PF (not my method). maybe i did read the chart wrong, but the entry point was horrible. had i used my method, i would have been in from very near the top where price spiked. so i don't know how you go about it.

or perhaps would you have waited to get confirmation of a failure to break above the LML, seen the 2 spikes and decided that was a bull failure thus short?
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isomorph Timing is key
2 years ago
thanks. :) there's 1 thing though... how do you decide where the reaction line is going to be?
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Timing is key isomorph
2 years ago
You begin with a good centreline, one with multiple tests is ideal like this triple bottom. From the centreline we have the furthest action point as the peak or Head of this H&S pattern. We then project as above so below equidistant parallel by just cloning in tradingview and dragging it down so the centreline overlaps and Wala! You have the reaction line target.
Thanks
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isomorph Timing is key
2 years ago
i'm sorry but i don't get it. when you drag it down, how do you know you should stop at 177.50?
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Timing is key Timing is key
2 years ago
Note: centreline/neckline/Multi-pivot line/horizontal triple bottom line are ALL the same line, just making it as clear as possible.
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isomorph Timing is key
2 years ago
yes, i understand that. what i don't understand is how do you determine the price level where you should drag and drop that cloned line? because looking at the chart, there seems there is nothing at 177.50, no special support of any kind. oh wait! do you mean that the distance from the head to the neckline is your measurement and you move the line down by that same distance?
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isomorph Timing is key
2 years ago
ok yes. i see now. sorry, too late here and too sleepy. it's the measured projection for a H&S. alright. listen, thanks a lot for indulging me.
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Timing is key isomorph
2 years ago
Yes exactly, understand it must be late. Most of my work goes beyond the pitchfork and into what is termed action/reaction theory,.....made famous by the late Dr Alan Andrews & Roger Babson......Their application to the markets originated from Sir Issac Newton's basic premise " For every action there is an equal and opposite reaction! Just making sure you don't think I made this stuff up:) keep well & happy trading.
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isomorph Timing is key
2 years ago
LOL cheers
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Timing is key
2 years ago
Heading towards minimum target beautifully, Notice the powerful move after it snapped back to the median line temporarily after the initial zoom bar.... this happens on a regular basis and is a great place to enter the move.
Sincerely,
TIK
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Timing is key Timing is key
2 years ago
Minimum Target Reached!
+2 Reply
IvanLabrie PRO
2 years ago
Excellent, I like your focus on the big range bar there...zoom bar.
I don't think we will see a move lower before going up again.
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Timing is key IvanLabrie
2 years ago
That's a tell pointing to lower prices, when Andrews was trading commodities in the 70's the market would GAP through the median line but because the speed and liquidity of forex that rarely happens these days. Notice how the market nearly 100% of the time SNAP back to the ML either touching it or leaving a gap before continuing down. Excellent for trade entries as it lowers risk. We will see how much more we have to go. Thanks Ivan
+1 Reply
Timing is key
a year ago
Touchdown my friends! Notice what I said in yellow about the retest.....Happens more often than not! ( As per Allan Andrews )
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IvanLabrie PRO Timing is key
a year ago
Man, you're a machine!
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Timing is key IvanLabrie
a year ago
Thanks mate, just following the methodology.
+1 Reply
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