Update 5/142020. Starting with post #70 the thread will more reflect this update.
This thread is about trading using Median Lines (ML). MLs are also called Andrew's Pitchforks. Some call them "forks" for short.
How to draw a ML:
1. A Median Line is drawn using three alternating price pivots. Correct pivots alternate between High, Low, High or Low, High, Low. It is incorrect to use High, High, Low or Low, Low, High pivots.
2. Any three pivots meeting the described criteria can be used to draw a ML BUT in order for the ML to be useful we should choose meaningful price structure based in SWINGS to draw our MLs. Using relatively same-sized swings is a good way to begin drawing meaningful MLs.
The chart below shows swing A to B and swing C to D. They are about the same sized.
Using these swings we can now draw a ML using pivots A, B and C. Once price reaches the median line the ML is complete as shown by "D".
What do Median Lines do?
They attempt to PROJECT price based on the three pivots discussed above. The middle, upper and lower MLs are really targets of projections. Projections include:
1. A median line is complete once "D" is achieved but before "D" is achieved it is possible to project C to D before it has happened.
2. Once "D" has happened it is possible to project D to the upper median line or D to the lower median line using price action.
3. If after C is formed and price fails to reach the median line to make "D" then it is possible to project that price will move in the opposite direction.
What don't Median Lines do?
1. One should resist the temptation to use MLs like trend lines where one enters based on line touches. Some attempt to draw MLs superimposed on price in such a way that shows frequent touches on the lines believing this "frequency" will continue and can be used for trade entries. This is done at the expense of swing structure and negates the intention of MLs.
2. Even though a ML may be pointing up or down it does not necessarily mean that price is going to follow that direction.
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.
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.
This thread is about trading using Median Lines (ML). MLs are also called Andrew's Pitchforks. Some call them "forks" for short.
How to draw a ML:
1. A Median Line is drawn using three alternating price pivots. Correct pivots alternate between High, Low, High or Low, High, Low. It is incorrect to use High, High, Low or Low, Low, High pivots.
2. Any three pivots meeting the described criteria can be used to draw a ML BUT in order for the ML to be useful we should choose meaningful price structure based in SWINGS to draw our MLs. Using relatively same-sized swings is a good way to begin drawing meaningful MLs.
The chart below shows swing A to B and swing C to D. They are about the same sized.
Using these swings we can now draw a ML using pivots A, B and C. Once price reaches the median line the ML is complete as shown by "D".
What do Median Lines do?
They attempt to PROJECT price based on the three pivots discussed above. The middle, upper and lower MLs are really targets of projections. Projections include:
1. A median line is complete once "D" is achieved but before "D" is achieved it is possible to project C to D before it has happened.
2. Once "D" has happened it is possible to project D to the upper median line or D to the lower median line using price action.
3. If after C is formed and price fails to reach the median line to make "D" then it is possible to project that price will move in the opposite direction.
What don't Median Lines do?
1. One should resist the temptation to use MLs like trend lines where one enters based on line touches. Some attempt to draw MLs superimposed on price in such a way that shows frequent touches on the lines believing this "frequency" will continue and can be used for trade entries. This is done at the expense of swing structure and negates the intention of MLs.
2. Even though a ML may be pointing up or down it does not necessarily mean that price is going to follow that direction.
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.
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.
