Andrews Pitchfork (Median Line)

nice ML. dax in a nutshell. dr schiff also

Went short last night on USDCAD on h1 w/ test of ML. Price reacted with few bars then reversed and took out my stop loss set to breakeven @ 100% of risk.

USDJPY setting up for a potential move to downside. There is some nice supply coming in on test of PF. Well see how it plays out. One of the things I've been struggling with it entries. What are your methods?

Hi Anton,

I draw my pitchfork on the daily chart and look for entries on the h4 charts. As such I would be looking for a long position o the USDJPY pair.

Srry I should have been more clear, what I'm curious is about it what gives ypu a signal when price approaches the ML for test.

DAX same fork on H4

Anton,

Look for reversal candles close to the ML

Sitkhi,

Kudos, that was a decent projection on AUDUSD for a retrace, then down to ML. There was more too it, as the chart shows, but overall, you suggested a strong AU peak could be in play, and that the downfork could be helpful. (See how the black PF did hold at a touch, but it was taken out before a bigger fall; very hard to have predicted that aspect of the chart!).

You will recall that you were challenged that there was no reason to draw a downward pitchfork. I completely disagree! One should always draw both up and down forks using major pivots, AND, one should keep in mind the higher timeframes. Another user noted how the AU has been going down since 2011. Have we just had a 2-3 month uptrend (W1 retrace?) that is now over? Will price find new lows, or hold the Jan bottom?

Another reason to draw opposite direction forks is that even in a strong trend that will continue, drawing a pitchfork at an area on consolidation can often give very good entries to join the trend in progress. Watch for them at the ML, which after it bounces there, may blow through the UML (if up, or LML if down) to continue the trend. (IN FACT, it is very possible this uptrend will continue, and you have to say it has hit the magenta ML for a good bounce, and that *would* have been enough for a long entry, then split the trade to take some profit, and let the other part ride (long) or BE if price falls). (Furthermore, the black PF uses my preferred pivots at the extreme High/Low/High, and price may yet continue to black PF before... bouncing and/or blowing through it).

Always draw up and down pitchforks. It can help you overcome excessive bias when you see good reasons for either way, then dive into details to decide. (I haven't mastered bad bias yet; still working on it).



Your blue channel had some good hits, but my pivots don't match as well as yours. Since you didn't zoom out, can you show your channel pivots? Here's mine from an H4. Note, we have broken a little below the lower channel line. If momentum picks up, watch out below.


I'm not especially good at longer term projections. I always want to see exactly how price approaches a line, and get a feeling for what may happen. So, I don't know whether this recent AU peak will hold or not, but I did see some interesting evidence that it held at a significant high, to the very pip. (I've no further comment on why, but it's not forks; I'm going to see if I can write an indicator to spot such things in advance, but, alas, I've no time to write code these days).

Suppose it holds, for a fairly big down move. The blue PF may hold, because the 3rd pivot had some excellent intra-fork resonance. However, the black fork has perhaps stronger resonance, and it *may* draw price to it. I'm not predicting it, but if price reaches it, I'd suggest it will react to the black LML. If I'm further lucky, or perhaps wrong about the timing, I suggest reactions (should price reach it) around 0.62280 and/or 0.61822. (I'm just playing with projections here).
(Fyi, I have some strictly private indicators in use here, but they measure PF resonance, aka "Hunt for C").

gbpusd. .. nice headstander

added a grey schiff. (cfd)

Droppin some mad science of yall n**gas.

Once price has tested the ML, a come for retest of upper perrellel in down sloping PF I no loge a high probability set up and effecting state of the upper parallel is greatly diminished. Trades should be avoided at a comeback.

The ML however is still effective and can be used as a form of retest after zoom or passing through.

Ones the lower parallel has been tested a comeback for a retest of ML in down sloping PF is no longer a high probability setup and should be avoided for taking short trades.

Ml can be used as a form of retest following the passing through to the upside in a downs loping PF after price either 1) failed to teach the lower patella or 2) has tested the parallel and now reversed the price flow.

Often price will break below the ML and the associated demand zone which is characterized as a PF pivot #3 (Swing Low) on a downsloping PF and then either consolidate or quickly reverse back above the ML and PF pivot #3 (Swing Low) signaling a probable range breakout failure also known as a the wash. At this point a new PF can be drawn if an opposing minir swing high is taken out for a corner trade upon retest if newly drawn PF.

Here is the thing, when price tests and ML and reverses a pull back to Upper parellel should not be treated as a signal to sell because the main impulse swing on which the original ml was anchored is the traded swing. The pullback is a new swing and if we were to trade the second impulse swing to the down low, we will need to see a qualification for drawing a new down slope to trade the newly forming impulse swing. Just came to this realization after forcing then upper parellel to act as a signal after a pull back. Marked with red are original impulse swing, reaction from the ML is corrective swing. Pull back to parellel is not a signal to go short , so we wait to see a chamge in behavior prior prior to anchoring a new PF and shorting on retest.

One more thing hit me today in ragards to validity of upper parellel once the ML has been tested. So... since we typically trade a retest of parelel, the upper parallel measures the anchored swing which we expect to run out of directional energy when it reaches the ML. If that is so and the PF is no longer of high probability to take a 2nd retest of upper parallel once ml is tested the retracement from test if ML can be concider ed a pull backback and the the next logical point where it may run out of directional energy is the warning line from which we can aim to short. Srry for typos hard to poat on phone.

in ddition, if price has not tested the parallel instead move directly to the ML or the farthes parallel on other side of ML then the anchored parallel is still in play and so it the ML for the short side.

Gbp/Nzd 4hr

Plz explain logic for this buy.

Splain?
Well, it's a buy, perhaps late, but with good r/r based on fork.
Will be monitoring it closely.