Indices Technical Analysis with Andrew Pitchfork Median Line

  • July 17, 2017

Buy Gold (Based on Bullish Pitchfork Technical Analysis on 26 Nov 2015 at 12:00)

  • Table of Specifications

    • Trading Pattern: Bearish Andrew’s Pitchforks
    • Signal Type: 4th Model
    • Trend Direction: Bearish
    • Symbol: XAUUSD (Gold)
    • Entry Price: 1072.630
    • Take Profits: 1075.336 and 1078.041
    • Take Profits (pips): 27 and 54 pips
    • Stop Loss: 1069.924
    • Stop Loss (pips): 27 pips
    • Starting Time of Formation: 24 Nov 2015 at 15:00
    • Pitchfork Type*: Bearish (50%-Pitchfork drawed)
    • Time to completion(TTC): 8 Candles
    • Number of Candlesticks on complete pattern: 44 Candles
    • Time-Frame: Hourly
    • Time: 12:00 (Based on FXPro server)
    • Date: 26 Nov 2015
    • Expiration: 8 candles
    • Strength: 75

Description of Pitchfork

Starting point of given Andrew Pitchfork pattern is on 1081.1 on 24 Nov 2015 at 15:00 As trend continued its downward direction toward bottom, 2nd spot formed on 1067.76 at 17:00 Eventually 3rd point appeared on 1074.85 at 05:00 After given pattern is formed by determining these 3 points, Trigger line can be specified by connecting 1st and 3rd points.

Price moved toward Median line, and after it touched Median line it bounced toward top hence Buy signal is generated on 1072.03 at 12:00

Considering that

  • Stochastic line entered Oversold area and it crossed level 20 toward Top on Stochastic Value 11

the Buy signal is generated with Entry Price 1072.630 and two Take Profit prices 1075.336 and 1078.041 while Stop Loss is 1069.924.


Buy Gold (Based on Bullish Pitchfork Technical Analysis on 26 Nov 2015 at 12:00)

Description of given pattern

  • Price of 1st point of given Bearish Andrew Pitchfork: 1081.1
  • Price of 2nd point of given Bearish Andrew Pitchfork: 1067.76
  • Price of 3rd point of given Bearish Andrew Pitchfork: 1074.85
  • Price of take off !!! 😀 (lower line): 1072.03

From two provided Take Profit prices, the most appropriate one can be selected by applying Risk/Capital management principles, trend line and other confirmations.


Buy US Dollar Japans Yen (Based on Bullish Pitchfork Technical Analysis on 22 May 2015 at 07:30)

  • Table of Specifications

    • Trading Pattern: Bearish Andrew’s Pitchforks
    • Signal Type: 4th Model
    • Trend Direction: Bearish
    • Symbol: USDJPY (US Dollar Japans Yen)
    • Entry Price: 120.782
    • Take Profits: 120.851 and 120.920
    • Take Profits (pips): 7 and 14 pips
    • Stop Loss: 120.713
    • Stop Loss (pips): 7 pips
    • Starting Time of Formation: 21 May 2015 at 06:30
    • Pitchfork Type*: Bearish (50%-Pitchfork drawed)
    • Time to completion(TTC): 8 Candles
    • Number of Candlesticks on complete pattern: 101 Candles
    • Time-Frame: 15-Minute
    • Time: 07:30 (Based on FXPro server)
    • Date: 22 May 2015
    • Expiration: 8 candles
    • Strength: 73

Description of Pitchfork

Starting point of given Andrew Pitchfork pattern is on 121.2 on 21 May 2015 at 06:30 As trend continued its downward direction toward bottom, 2nd spot formed on 120.842 at 11:15 Eventually 3rd point appeared on 121.255 at 17:45 After given pattern is formed by determining these 3 points, Trigger line can be specified by connecting 1st and 3rd points.

Price moved toward Median line, and after it touched Median line it bounced toward top hence Buy signal is generated on 120.781 at 07:30

Considering that

  • While MACD line and bars are on lower phase, if MACD line passes bars toward Bottom
  • RSI line entered Oversold area and it crossed level 30 toward Top on RSI Value 24

the Buy signal is generated with Entry Price 120.782 and two Take Profit prices 120.851 and 120.920 while Stop Loss is 120.713.


Buy US Dollar Japans Yen (Based on Bullish Pitchfork Technical Analysis on 22 May 2015 at 07:30)

Description of given pattern

  • Price of 1st point of given Bearish Andrew Pitchfork: 121.2
  • Price of 2nd point of given Bearish Andrew Pitchfork: 120.842
  • Price of 3rd point of given Bearish Andrew Pitchfork: 121.255
  • Price of take off !!! 😀 (lower line): 120.781

From two provided Take Profit prices, the most appropriate one can be selected by applying Risk/Capital management principles, trend line and other confirmations.


Sell Euro US Dollar (Based on Bearish Pitchfork Technical Analysis on 04 May 2015 at 05:00)

  • Table of Specifications

    • Trading Pattern: Bullish Andrew’s Pitchforks
    • Signal Type: 4th Model
    • Trend Direction: Bullish
    • Symbol: EURUSD (Euro US Dollar)
    • Entry Price: 1.11885
    • Take Profits: 1.11796 and 1.11707
    • Take Profits (pips): 9 and 18 pips
    • Stop Loss: 1.11974
    • Stop Loss (pips): 9 pips
    • Starting Time of Formation: 01 May 2015 at 19:45
    • Pitchfork Type*: Bullish (50%-Pitchfork drawed)
    • Time to completion(TTC): 8 Candles
    • Number of Candlesticks on complete pattern: 38 Candles
    • Time-Frame: 15-Minute
    • Time: 05:00 (Based on FXPro server)
    • Date: 04 May 2015
    • Expiration: 8 candles
    • Strength: 60

Description of Pitchfork

Starting point of given Andrew Pitchfork pattern is on 1.11739 on 01 May 2015 at 19:45 As trend continued its upward direction toward top, 2nd spot formed on 1.12175 at 22:30 Eventually 3rd point appeared on 1.11757 at 03:30 After given pattern is formed by determining these 3 points, Trigger line can be specified by connecting 1st and 3rd points.

Price moved toward Median line, and after it touched Median line it bounced toward bottom hence Sell signal is generated on 1.11899 at 05:00

Considering that

  • Stochastic line entered Overbought area and it crossed level 80 toward bottom on Stochastic Value 90

the Sell signal is generated with Entry Price 1.11885 and two Take Profit prices 1.11796 and 1.11707 while Stop Loss is 1.11974.


Sell Euro US Dollar (Based on Bearish Pitchfork Technical Analysis on 04 May 2015 at 05:00)

Description of given pattern

  • Price of 1st point of given Bullish Andrew Pitchfork: 1.11739
  • Price of 2nd point of given Bullish Andrew Pitchfork: 1.12175
  • Price of 3rd point of given Bullish Andrew Pitchfork: 1.11757
  • Price of take off !!! 😀 (lower line): 1.11899

From two provided Take Profit prices, the most appropriate one can be selected by applying Risk/Capital management principles, trend line and other confirmations.

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