BT''s Classroom (SPX FORKS)

[Smurfedtear]

SHZ (Daily)

[Smurfedtear]

HDY (Daily)

[Smurfedtear]

coco (Daily)

[Smurfedtear]

HND.TO (daily)

[pHiLtHy]

ES chart follow-up

ok, the forks that i laid out for today broke down...

so, here are the forks I used today...

Pink is the 1st one plotted after yesterday forks broke.

Then price broke out of the upper TL so I drew the light blue fork and also put the gold one in there... we'll see where they go Monday.

[pHiLtHy]

ES chart for tomorrow...

ok, following up on previous post, today's price action blew threw the top of both forks so here's the same 3200 tick chart with a new fork for tomorrow (large light blue). I left the other two forks on there for reference. Now the overnight trading and tomorrow's open could void all of this, but this will help me guage the market tomorrow a.m.

[pHiLtHy]

ES charts for today...

here's a zoomed out view of the 3200 tick with TLs and forks... this played out very well today.



here's a zoom "in" view so you can get a closed up of forks and fibs. You can't see it on this chart cuz it's a heiken ashi candle globex chart but i scalped a gap close trade and then then it sold off... when bounced down around 1292 I put the large fuschia fork in place. "the trade" today was the 50% pull-back off that bounce... after reaching it's fib extension target, i took profit. it then pulled back, so i added the smaller light pink fork looking for a reset and reload. note the fib tool on the smaller pink fork. price consolidated during lunch which i monitored on a 5 min. chart, it then broke out of consolidation. i was able to get a good entry off the 5 min. chart trading a tight consolidation pattern. when price broke above the upper boundry of the smaller fork, i knew that the upper boundry of the larger fork was an easy target, plus the fib extensions lined up in that area as well.

[blacktruck]

Longer term? RTEC Weekly

[CopperDollar]

BGZ 60m & Daily with trial forks...
60 minute

Daily

[orecal7]

ah, u mean this? i have a habit of putting cart before horse...

ANF - Daily Candlesticks

[blacktruck]

That SDS fork is slick......keeping an eye on that

[blacktruck]

i would look for the fifth wave higher...but first maybe a look at a daily portfolio fork( from the beginning)

[Deep]

SPX (60 min) and SDS (60 min):


SPX (60 min)
http://stockcharts.com/h-sc/ui?s=$SPX&p=60&st=2010-11-23&en=%28today%29&id=p07786852620&listNum=1&a=222325063

SDS (60 min):
http://stockcharts.com/h-sc/ui?s=SDS&p=60&st=2010-10-01&en=%28today%29&id=p31119383484&listNum=1&a=222834425

Both will attempt 200 MA

[orecal7]

Hagopian? after the failure, whatl would u look for?
ANF - 60 min Candlesticks

[orecal7]

TZA

Daily:



TZA - 60 min Candlesticks

[Smurfedtear]

Netflix NLFX (daily)


*Random*

[Smurfedtear]

Molycorp MCP (Daily)

*RANDOM*

[Smurfedtear]

DRV (Daily Chart)

Homework assignment :)

[Princess1]

http://stockcharts.com/h-sc/ui?s=FAZ&p=W&yr=1&mn=6&dy=0&id=p62980178136&a=222821986

[robertnick]

REE - Daily from Narsi

[robertnick]

LVS Daily from Narsi

[blacktruck]

Just noticed that ANW wedge may also play out on the weekly...this would be very bad and take price to 9 area..and a double touch on triangle lows..one of the things hurting ANW is the morbid condition of the dry shippers.....as reflected in the BDI...

[robertnick]

LDK - daily from Narsi

[blacktruck]

New wedge ANW

[Smurfedtear]

Thanks BT! I'll try to continue producing high quality forks! haha

[blacktruck]

Nice set of forks smurf...looks like your gap fork in green has it called...this is what you call going after the right fork...great job

[Smurfedtear]

COS (Daily Chart) Canadian Oil Sands

[blacktruck]

That is an EXCEPTIONAL video on using a fork as a short term trader and other videos you wish to post certainly have my blessing...Thx a mil Phi..I really appreciate..

[Smurfedtear]

Monthly chart for IMAX Corp

BT... I shouldnt be using monthly yet but for this one, i can cover more of its time length.

[pHiLtHy]

BT may tell me to but out here but I saw this question the other day and after today's trading I was able to do a quick video of a progression of fork applications on a 1600 tick ES chart...

Not saying this is per the methods that BT is teaching but this is how I used forks today to help manage 8 trades.

maybe this will help to see how things change as the day goes on and dynamic use of forks... and in the end, the last fork mid-line along with fib extension helped confirm my target for the last trade of the day taking profits at 1297.75

http://www.screencast.com/users/BBQ-pHiL/folders/Jing/media/b5ebe751-8c95-4cba-98ff-66910c01c518

[blacktruck]

Lets take a look at a method to try and pick off the high pivot...


statistical methods....coupled with a fork

the 1 thru 3 wave expansion is used here..

[CopperDollar]

RTEC Daily

[blacktruck]

Eventually you realize that forks tend to move.....so you get much more movement on say a 60 then a daily.


I actually have a few 60's with this fork...tonight I will stress this movement when we look at gap forks..

I have found that there is no such thing as a "bad" fork.....but some forks defend price better than others.....

[blacktruck]

thank you...we will discuss your chart in tonights class..

[Smurfedtear]

Intel Corp (Daily)

BT, here's the fork from 23.82

[CopperDollar]

BT, here's a little variation on the SPX 60. On yours you've utilized the August high/low to place your fork and this one utilizes the November high/low. Is there any rule to indicate which one has the better odds of being correct?

[blacktruck]

excellent job Smurf....as a tip...try to find the down fork which defends price action fall from 23.82...

[blacktruck]

Once you have exceeded one warning line...warning lines will be covered tonight 's class...

[Smurfedtear]

Intel Corp. (INTC) Daily Chart

[CopperDollar]

GLD 60m
At what point do you say a fork is not relevant and remove it from your chart? I'm specifically asking about the larger blue fork...

[blacktruck]

i cannot tell anything at all about this chart from your fork....so you need to get with me...

[Smurfedtear]

My 2nd POST! hnd.to (60m) Horizon Natural Gas TSX Canadian Stock

[Smurfedtear]

My first post! RTEC (60m)

[blacktruck]

Once again great fork....here is my POT weekly

[blacktruck]

Maybe you should be teaching this class...?

Nice fork Copper!!!!!!

[CopperDollar]

POT Daily w/ fork.

[blacktruck]

You probably forgot to save your POT chart file info prior to posting...no annotations on POT chart?

[blacktruck]

maybe run a upsloping fork as well and see where you magnet area are...magent areas= places where two forks criss cross..

[blacktruck]

You need to get The Elliott Wave Principle and you need to get as early an edition as you can get your hands on....perhpas a second hand bookstore...try to find one that was printed prior to 1987....and looks like it came off of a typewriter....then slowly and methodically plow through it....

i teach that course as well but you really have to be committed to get behavior out of it...I hardly ever teach it as well...it is difficult stuff...\\

but if you get behavior down it will really help your forks and vice versa....

[CopperDollar]

/ES 15m. Cleaned up some chart clutter and removed gold fork which didn't appear to be working...
http://screencast.com/t/PbxlRDbcB