Analysious
Short

Learning to draw PitchFork

FX:GBPUSD   British Pound/U.S. Dollar
56 2 0
Dear friends could somebody help me to learn this...:)
Timing is key
2 years ago
Hello Analysious,

The fork is fine, the 50% levels are additional perspectives which can be helpful but if your starting out with Andrew's it's best to learn how to interpret a standard fork for clues to where price is headed. A few simple clues.
1 The current bottom has had a sizeable correction and has taken out 2 minor tops, and is back to the upper quartile of the fork and is now challenging the upper parallel for the 4th time. How much time has it spent below the Median Line?
2. The last attempt to the median line ( Current Bottom ) failed to reach. If this is a true failure there is a high probability the market will reverse further than it did travelling to the ML.....Get the drift. Failures are sometimes more important and profitable than touches of the ML and it's parallels.

I have attached my chart on this play, the next few bars will tell me if it's game on!

Sincerely,

TIK


GBPUSD 240 Idea - Explosive move to the upside?
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Analysious Timing is key
2 years ago
Thanks Tik... I appreciate your Input
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