Wednesday, July 1, 2009
There are three sets of Andrews' Pitchfork in the chart above. There was a breakout from the upward fork happened on Tuesday. I started a downward fork this morning.
The price is riding the top of that fork as well as the top of the fork I started from 956.23 which should contain the entire Intermediate B wave.
I've been using Andrews' Pitchfork with the Euro with great success. It seems to be working well with the SPX as well. Beow is the EUR/USD with pitchforks.
I'm still looking for Minor C, but it better happen soon. I would be happier if it were to begin with a decisive reversal. Maybe tomorrow...
Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
Posted by Robert Campbell at 14:39