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-   -   Powerful is the Fork (https://www.forexfactory.com/showthread.php?t=972146)

Winston Reed Jan 1, 2020 12:55pm | Post# 1

I've started and trashed many threads mostly out of boredom. This one may be no different but I'll give it another go.

This thread is about trading using Median Lines or Andrew's Pitchforks. Some call them "forks" for short.

Everyone interested in Forks is welcome to post their ideas, methods, strategies and experiences with Forks. Everyone is invited to comment about my charts or anyone else's charts as this is an interactive forum. Comments may agree or disagree. This is a free speech thread.

I will not be giving any step-by-step guide on how I trade using forks. I can steer you towards helpful information if you are just beginning with forks. However you will need to pm me in this regard.

All my trade posts will be live with real money. My trading posts will occur in one of the following ways:
1. Set-up with potential trade articulated but no pending order.
2. Same as 1. but with pending order clearly shown.
3. Entered trade posted either immediately or within as short of time as possible after trade entry.

I will not show hind-sight trades.

Rules:
1. This thread is about trading so please post a chart with an explanation.
2. This thread is about trading using pitchforks so please use pitchforks on your charts.

Winston Reed Jan 1, 2020 1:10pm | Post# 2

1 Attachment(s)
EURUSD 60 minute.
Possible sell to the red rectangle or wait at the red rectangle for possible buy. Needs to develop more before placing orders.
Click to Enlarge

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Winston Reed Jan 1, 2020 1:31pm | Post# 3

1 Attachment(s)
GBPUSD 60 min
Sells may be possible but needs to develop. Buying at the purple rectangle would be a consideration but the red rectangle offers much better R:R.
Click to Enlarge

Name: Screen Shot 2020-01-01 at 11.29.29 AM.png
Size: 328 KB

Winston Reed Jan 1, 2020 2:31pm | Post# 4

1 Attachment(s)
This might look a bit messy but I like the sell from the upper red rectangles and wait to see how price reacts at the lower rectangles.
Click to Enlarge

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Sossos Jan 2, 2020 7:40am | Post# 5

GBPUSD 60 min Sells may be possible but needs to develop. Buying at the purple rectangle would be a consideration but the red rectangle offers much better R:R. {image}
I noticed on your drawing of the median lines that your c points are all non verified. Did price make a previous median line at the highs on each of the charts?

Winston Reed Jan 2, 2020 7:54am | Post# 6

1 Attachment(s)
{quote} I noticed on your drawing of the median lines that your c points are all non verified. Did price make a previous median line at the highs on each of the charts?
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Good question. In the above chart price reached the median line after "C" so I'm assuming you would consider "C" verified.

I see things in process. A new high confirms a swing low or a new low confirms a swing high. Once this happens I will often draw a potential median line where "C" is not "verified". This is because I see the potential for price to make it back to the median line and will often trade with that in mind.

I do trade completed forks but once they complete I begin to view them more as channels.

Winston Reed Jan 2, 2020 7:57am | Post# 7

{quote} {image} Good question. In the above chart price reached the median line after "C" so I'm assuming you would consider "C" verified. I see things in process. A new high confirms a swing low or a new low confirms a swing high. Once this happens I will often draw a potential median line where "C" is not "verified". This is because I see the potential for price to make it back to the median line and will often trade with that in mind. I do trade completed forks but once they complete I begin to view them more as channels.
One other thing. I use the "last swing back" or LSB concept as a major part of my trading so in essence I tend to look for overall potential trend reversals.

Winston Reed Jan 2, 2020 8:07am | Post# 8

2 Attachment(s)
This what I see most fork traders looking for. Perhaps looking for trades at the lines. Nothing wrong with that.
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Although I see the lines I look more at the price action for trades whether at the lines or not. PA at gaps, tails, etc. When price reverses effort I get interested.
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Winston Reed Jan 2, 2020 1:18pm | Post# 9

1 Attachment(s)
This might look a bit messy but I like the sell from the upper red rectangles and wait to see how price reacts at the lower rectangles. {image}
First trade of 2020!
EURGBP 60 min. SELL.
Intial SL high and out of the way for now. Target will likely be at the lower orange parallel.
Depending on PA may add.
Click to Enlarge

Name: Screen Shot 2020-01-02 at 11.16.00 AM.png
Size: 451 KB

Winston Reed Jan 2, 2020 1:26pm | Post# 10

1 Attachment(s)
GBPUSD 60 min Sells may be possible but needs to develop. Buying at the purple rectangle would be a consideration but the red rectangle offers much better R:R. {image}
GBPUSD 60min.
Pending BUY as shown.
Click to Enlarge

Name: Screen Shot 2020-01-02 at 11.25.09 AM.png
Size: 378 KB

fxtyrant Jan 2, 2020 1:35pm | Post# 11

EURUSD 60 minute. Possible sell to the red rectangle or wait at the red rectangle for possible buy. Needs to develop more before placing orders. {image}
very good call on the sell eurusd buddy. in fact theres more to drop... im expecting to revisit 1.10

Winston Reed Jan 2, 2020 4:51pm | Post# 12

1 Attachment(s)
{quote} very good call on the sell eurusd buddy. in fact theres more to drop... im expecting to revisit 1.10
Thanks FX. I did not get in where I wanted to sell but I like how that engulfing took out the 2 bar tail so I've got a limit sell with a target at least to the red rectangle down there. I'd love it to go to 1.10!!!

Click to Enlarge

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Winston Reed Jan 2, 2020 4:56pm | Post# 13

1 Attachment(s)
AUDJPY 60min.
This looks interesting for a sell if it retraces to the red rectangle. However this could be a wash and rinse in process and so it could keep going up.

Click to Enlarge

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Winston Reed Jan 2, 2020 5:00pm | Post# 14

I made some mistakes in the last 2 posts so please reread them as they didn't make sense before. Sorry.

Winston Reed Jan 2, 2020 5:05pm | Post# 15

1 Attachment(s)
GBPJPY 60 min
Missed this one. May get a chance to buy again. Will keep a close eye.
Click to Enlarge

Name: Screen Shot 2020-01-02 at 3.03.49 PM.png
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Winston Reed Jan 3, 2020 12:45pm | Post# 16

1 Attachment(s)
{quote} First trade of 2020! EURGBP 60 min. SELL. Intial SL high and out of the way for now. Target will likely be at the lower orange parallel. Depending on PA may add. {image}
Update: EURGBP 60 min SELL
Chart reorganized. So far against me. Will hold through the weekend.
Click to Enlarge

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Size: 457 KB

Winston Reed Jan 3, 2020 12:49pm | Post# 17

1 Attachment(s)
{quote} GBPUSD 60min. Pending BUY as shown. {image}
Update GBPUSD 60 min pending BUY
Filled overnight. Slightly against me. Will hold over weekend also
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Winston Reed Jan 3, 2020 12:57pm | Post# 18

1 Attachment(s)
GBPJPY 60 min Missed this one. May get a chance to buy again. Will keep a close eye. {image}
Update missed GBPJPY 60min BUY
Glad I missed it!!! Now looking like a sell. Will revisit on Monday.
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Winston Reed Jan 5, 2020 11:17am | Post# 19

1 Attachment(s)
AUDUSD60min.
Looks interesting.
Click to Enlarge

Name: Screen Shot 2020-01-05 at 9.16.15 AM.png
Size: 375 KB

Winston Reed Jan 5, 2020 11:19am | Post# 20

1 Attachment(s)
USDJPY60min
Possible sell at the red rectangle.
Click to Enlarge

Name: Screen Shot 2020-01-05 at 9.18.02 AM.png
Size: 374 KB


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