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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.

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