With the market at balance at the Centerline I start my position to go long.
Two opposing forces:
1) the blue Pitchfork , which shows how price swings to the south and where the extremes and balance levels are.
2) the up-sloping A/R Channel, which does the same as the blue Pitchfork , just in another context to the upside.
As for targets, there are
a) the U-MLH of the blue Fork
b) the Centerline of the A/R Channel
c) trailing behind Structure
This was an official Scalp-Chart analysis I made a couple days ago, so everybody can follow it live and profit from it.
The first Chart gives you the idea how I saw price moving, and where the profit should be taken (80% Chance for profit).
The second chart shows you the actual price of the EUR/CHF pair.
It's just a couple ticks before the projected price target.
This is just one example how my chart analysis method works. No, not every time. But with 80% probability I would say, we are very efficient applying our money to the markets.
If you want to know more about this chart analysis method and how I even use Options-Strategies to put some meat to the bone, then register here for free.
I got a E-Mail from a stranger who "scold" me, why I don't post these trades much earlier.
He was really obset about it (...WTF?...) §8-)
So I wrote him back, very friendly, and explained that if he where taking my FREE ForkTrading BLUEPRINT Crash-Course, he would knew what happened next, after the first test of the Centerline.
However - here's a quick explanation video on GBP.USD for you.
And hey, if you're not a ForkTrading Group Member yet, subscribe right now.
You will get a lot of learning material and it took me a lot of work to create it.
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Here we are - stretched to the downside again.
I took profit on the L-MLH, trade finished.
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The zoomed CL indicates that price want's to go higher.
If you already are familiar with the rules, then you know what to expect next.
Yes, the pullback to the CL.
(In case you have not yet made it through the free ForkTrading BLUEPRINT, then feel free to give yourself a boost and learn the ForkTrading rules here. ATTENTION: Read the message FIRST!)
However - since this is still a "living" bar and price could still close below the CL, we have to be careful.
A close above, or below is completely different and both closes have their meaning.
We need to act accordingly.
My best advice here: There is no need to rush!
Price will do what it has to do and we observe.
Is there a trade cooking?
Yes there is.
But first we observe and switch to hunt mode. The ForkTrading Method will tell you when we have a high probability trade in front of our gun. So let's be patient and learn from the movement of this creature and stalk it.
I will follow up on this - stay tuned.
You learn the most if you participate and articulate your ideas.
So feel free to post your thoughts and comments to bring your inner trader to live.
Further analysis on the EURUSD:
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