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
Comments
Timing_is_key
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Touchdown my friends! Notice what I said in yellow about the retest.....Happens more often than not! ( As per Allan Andrews )
IvanLabrie
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Man, you're a machine!
Timing_is_key
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Thanks mate, just following the methodology.
IvanLabrie
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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.
Timing_is_key
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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
Timing_is_key
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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
Timing_is_key
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Minimum Target Reached!
isomorph
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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:
isomorph
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where did my chart go? trying again.... ah damn it! i didn't press the 'insert' button before. more coffee for me. ;)
Timing_is_key
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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