EURNZD Potential Pitchfork PlayIn this update we review the recent price action in the EURNZD and identify the next high probability trading opportunity and price objectives to target.
Pitchforktrading
ES - S&P 500 - Profit P5 Is CommingWonderful how the Count 0-5 works out.
At P4, price should reach the U-MLH. But instead it turned south, leaving a void up to the U-MLH, which in a Pitchfork-Trader term is a "Hagopian".
The Rule Of Dr. Hagopian: Price will move more in the opposite direction than from where it came.
In this case, price came from the CL (Centerline). And therefore price moves beyond the CL, which it did.
Another beauty how the rules of a Pitchfork-Trader work. It's just great to know that they work with a super high probability. Not everytime, but more than enough to print $ §8-)
OK, now what?
Well, when price went below the CL again, it zoomed through. After a Zoom we expect a pullback. And it did. Another rule that worked out.
After the pullback, price got rejected. And there it lies in front of us, the final target P5.
This P5 of course can be much lower than in this screenshot projects it. However, after price reaches P5, prepare for P0 (zero).
P0 again?
Yep! After a P5 the full Swing/Pivot process has played out, and we start from new, just in the opposite direction. It's kinda printing money like the FED - just without lying and megalomania (also known as delusion).
I hope this makes you curious to trade with Pitchforks. They're just a tool. But when used in the right context of your trading, they will be PLATIN for your profits... and nerves too §8-)
Stay save out there.
#ILoveThesePitchforksLikeSwissCheese
